Newcore Gold Increases Drill Program to 45,000 Metres at the Enchi Gold Project, Ghana

Core Insights - Newcore Gold Ltd. has successfully completed drilling at its Enchi Gold Project in Ghana, leading to an increase in the 2024-2025 drill program to 45,000 metres due to a strong cash position of approximately $10 million [1][4] - The first phase of the drill program focused on resource growth and infill drilling to convert Inferred Resources to Indicated, while the second phase will target discovery and resource growth at depth [2][15] - Significant gold mineralization has been encountered, with notable high-grade intervals reported, indicating strong continuity and potential for resource growth [5][6] Drilling Program Details - The ongoing drill program has reported a total of 25,097 metres in 207 Reverse Circulation holes, with 98.5% of holes intersecting gold mineralization [6] - The first phase of drilling was primarily focused on shallow mineralization to an average vertical depth of 100 metres, while the second phase will include diamond drilling targeting higher-grade potential at depth [4][15] - Key results from the drilling include intersections such as 2.25 g/t Au over 56.0 m and 204.27 g/t Au over 1.0 m, highlighting the presence of wide zones of gold mineralization [5][7] Resource Estimates - The Enchi Gold Project currently hosts an Indicated Mineral Resource of 41.7 million tonnes grading 0.55 g/t Au containing 743,500 ounces of gold and an Inferred Mineral Resource of 46.6 million tonnes grading 0.65 g/t Au containing 972,000 ounces [21] - The Sewum Gold Zone has an Indicated Mineral Resource of 20.9 million tonnes grading 0.48 g/t Au containing 323,300 ounces and an Inferred Mineral Resource of 21.8 million tonnes grading 0.53 g/t Au containing 373,100 ounces [17] - The Boin Gold Zone has an Indicated Mineral Resource of 13.0 million tonnes grading 0.62 g/t Au containing 258,200 ounces and an Inferred Mineral Resource of 15.9 million tonnes grading 0.68 g/t Au containing 349,600 ounces [18] Future Plans - The company is working towards completing the technical work required for a Pre-Feasibility Study in 2026, alongside the ongoing drilling program [4][15] - Development work in support of the Pre-Feasibility Study includes metallurgical testwork, hydrogeological testing, geotechnical work, and environmental assessments [16] - The drilling program aims to outline resource growth along strike at existing deposits and to define new resource areas, particularly at the Kojina Hill target, which currently has no defined mineral resource [15][20]