Newcore Gold Achieves Impressive 93% Gold Recoveries in Testing

Highlights on Recent Column Testwork by Newcore Gold

VANCOUVER — Newcore Gold Ltd. (TSX-V: NCAU, OTCQX: NCAUF) is unveiling exciting findings from its ongoing metallurgical testwork at the Enchi Gold Project. The recent column tests, which were conducted across five composite samples from the Sewum Gold Deposit and two from the Boin Gold Deposit, revealed an average gold recovery of 93.0%. This achievement underscores the potential of the project to reliably extract gold through heap leaching methods.

Details of the Metallurgical Testing Program

The metallurgical testing initiative at the Enchi Gold Project has been significant in validating the project's future development. Currently, Newcore Gold is undertaking a comprehensive 10,000-metre reverse circulation drilling program aimed at resource growth and enhancing the existing Mineral Resource Estimate. Progress includes additional testing that covers geological, environmental, and hydrogeological assessments to further solidify the project's potential.

Overall Performance of Column Tests

The column tests performed seven samples, with gold recoveries ranging from 82.6% to 97.2%. The successful extraction rates confirm that the project possesses favorable characteristics for bulk processing and indicates a promising avenue for economical gold recovery techniques.

Understanding Recovery Parameters for Enchi

Sampling was performed on oxide mineralization from diverse trenches dug within both the Boin and Sewum deposits. The average gold grades were computed to be 0.56 grams per tonne across the tested samples, which further enhances understanding of recovery parameters and reinforces assay consistency.

Low Reagent Consumption and Ongoing Testwork

Interestingly, the tests also signaled modest reagent consumption, averaging 1.63 kilograms of cyanide per tonne of material. This low consumption is a positive indicator of cost efficiency for future operations. Furthermore, ongoing metallurgical evaluations are expected to pinpoint optimized gold recovery methods from different mineralization types, including transitional and sulphide materials.

Next Steps in Development

In advancing this initiative, Newcore Gold plans further column testing in its quest to enhance recovery rates from various ore types. The results thus far substantiate the potential for heap leaching while also validating the engineering approaches outlined in the Preliminary Economic Assessment.

Recognition of Metallurgical Testing Findings

The successful results derived from this testing are instrumental not just in terms of resource recovery, but they bolster confidence in the future exploration ventures at Enchi. The findings align with predictions from previous assessments and highlight the oxide recovery features that the project is known for.

Future Exploration and Resource Growth Strategy

For 2024, Newcore Gold envisions an ambitious work program, including further drilling activities designed to shed light on the extensive resource potential surrounding both the Sewum and Boin deposits. With the metallurgical testing validating the project's robust characteristics, more targeted exploration will aid in outlining new mineralized zones that remain open at depth and laterally.

Comprehensive Resource Assessment

Latest estimates suggest an Indicated Mineral Resource of 41.7 million tonnes grading 0.55 grams per tonne of gold, containing approximately 743,500 ounces. Inferred resources stand at about 46.6 million tonnes grading 0.65 grams per tonne, translating to roughly 972,000 ounces. These substantial estimates reaffirm the viability of ongoing development projects at Enchi.

Commitment to Industry Best Practices

Newcore Gold's rigorous exploration and assessment efforts are underscored by a commitment to best industry practices. The company collaborates with independent drilling firms ensuring that all activities meet the most stringent operational and analytical standards.

Frequently Asked Questions

What are the recent results from Newcore Gold’s metallurgical tests?

The recent column tests have shown successful average gold recoveries of 93% from the Sewum and Boin deposits.

How many samples were tested in the recent column testwork?

A total of seven composite samples were tested—five from Sewum and two from Boin.

What is the significance of the testwork results for Newcore Gold?

The successful recoveries and low reagent consumption signify cost-effective extraction methods, validating the project’s potential for heap leaching.

What is the future work program for the Enchi Gold Project?

Newcore Gold plans a 10,000-metre reverse circulation drill program aimed at further resource growth and enhancing the mineral resource estimate.

What is the current mineral resource estimate for the Enchi Gold Project?

The project currently has an Indicated resource of 41.7 million tonnes grading 0.55 g/t gold and an Inferred resource of 46.6 million tonnes at 0.65 g/t gold.

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