Newcore Gold Reports Significant Drill Findings at Enchi

Exciting Developments in Newcore Gold's Drilling Program

Newcore Gold Ltd. is thrilled to share noteworthy results from its ongoing drill program at the Enchi Gold Project. The focus is on enhancing resource growth while confirming gold mineralization continuity. During this extensive 10,000-metre drill program, the company has been diligently exploring its fully owned Enchi property in Ghana. Recent reverse circulation drilling at the Boin Gold Deposit revealed impressive grades, with significant intersections including 0.97 grams per tonne (g/t) gold over 96.0 metres and 1.06 g/t gold over 81.0 metres, showcasing the potential of this promising project.

Highlights from the Boin Gold Deposit

The drill program at Enchi continues to yield remarkable results. The latest findings include:

• Hole KBRC316: Intersected high-grade mineralization with 0.97 g/t gold over 96.0 metres, particularly notable from 100 metres down, including an impressive 2.05 g/t gold over 10.0 metres at 163 metres depth.
• Hole KBRC313: This hole confirmed broader intervals of 1.06 g/t gold over 81.0 metres starting from 127 metres down, along with a higher-grade section of 2.50 g/t gold over 17.0 metres from 132 metres.
• Hole KBRC314: Reported 0.86 g/t gold over 62.0 metres, featuring a peak of 2.24 g/t gold over 9.0 metres at 210 metres.
• Further results from Hole KBRC317: Presented intervals of 0.70 g/t gold over 73.0 metres and a notable 1.52 g/t gold over 7.0 metres from 192 metres down.

Luke Alexander, President and CEO of Newcore Gold, emphasized the importance of these results, asserting, "The results from our drilling program at Enchi substantiate the continuity and potential for higher-grade gold mineralization at the Boin Gold Deposit. Each intersection reinforces our strategy to bolster confidence in our existing resources, an essential step for progressing towards a Pre-Feasibility Study for Enchi's development."

Objectives of the 2024-2025 Drill Program

This drill program aims not only to verify and expand existing resources but also to transition Inferred Resources to Indicated status. Every hole drilled thus far has intersected gold mineralization, underscoring the project’s resource growth potential and the sustained viability of gold exploration at Enchi.

This production report highlights results from 10 reverse circulation drill holes, totalling 2,060 metres, targeting the Boin Gold Deposit. As of now, the ongoing program has accounted for 5,458 metres across 31 drill holes, with the promise of further groundbreaking discoveries as drilling continues across all targeted areas.

Impacts on Future Resource Estimation

The consistency of these results from the Boin Gold Deposit is particularly promising and will likely lead to updates in the Mineral Resource Estimate for the Enchi Gold Project. With such a substantial area remaining untested, ongoing drilling aims to unlock further potential resources at Enchi.

Broader Enchi Gold Project Developments

The Enchi Gold Project hosts an impressive Mineral Resource Estimate of 41.7 million tonnes grading 0.55 g/t gold, containing approximately 743,500 ounces of gold. The ambitious drilling campaign is a critical aspect of Newcore Gold's mission to validate and expand the known resources, thereby enhancing the project's overall valuation and appeal to investors.

Additionally, ongoing work across the Enchi property includes metallurgical testwork, environmental assessments, and soil sampling, all aimed at underpinning Newcore’s strategy to leverage district-scale exploration opportunities effectively.

Conclusion and Future Plans

Newcore Gold’s commitment to maximizing shareholder returns through strategic development and exploration is evident in its proactive drilling campaign at Enchi. The company’s focus on advancing its projects while refining its resource estimates positions it well within the dynamic gold mining industry in Ghana. Enthusiasts and investors alike eagerly await further advancements as new drilling results become available.

Frequently Asked Questions

What are the recent drill results at the Boin Gold Deposit?

The latest results include significant intersections such as 0.97 g/t gold over 96 metres and 1.06 g/t gold over 81 metres, showcasing the potential for high-grade mineralization.

What is the goal of the 2024-2025 drill program?

The program aims to convert Inferred Resources to Indicated, while also confirming the continuity of gold mineralization at the Enchi Gold Project.

Who is leading Newcore Gold?

Luke Alexander serves as the President and CEO, guiding the company through its exploration and development activities.

What is the estimated Mineral Resource at Enchi?

The Enchi Gold Project is estimated to contain 41.7 million tonnes grading 0.55 g/t gold, which amounts to about 743,500 ounces of gold.

How is Newcore Gold ensuring quality in drilling and sampling?

Newcore employs best practice standards, including analytical quality assurance procedures and independent drilling firms to maintain the integrity of all exploration activities.

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