PDAC video: Newcore Gold expands drill program for Enchi resource upgrade, CEO says

Newcore Gold (TSXV: NCAU; OTCQX: NCAUF) has increased its drilling to 35,000 metres at the Enchi gold project in Ghana, CEO Luke Alexander says in a video interview.Upgraded and expanded resources could lift the company’s valuation, Alexander said, as the company works to finish a prefeasibility study by mid-2026.“Where a lot of these greenstone-hosted deposits really grow in size is as you start to find these high-grade feeder zones at depth,” Alexander said last month at the Prospectors and Developers Association of Canada’s annual event.Backed by institutional investors after a C$15-million financing in February, Newcore aims to upgrade and grow the Jan. 2023 resource. Enchi holds 41.7 million indicated tonnes grading 0.55 gram gold per tonne for 743,500 contained oz. and 46.6 million inferred tonnes at 0.65 gram gold for 972,000 ounces.A 2024 preliminary economic assessment outlined a $371-million after-tax net present value (at a 5% discount) and a 58% internal rate of return at $1,850 per oz. gold, based on a low-capex, open-pit, heap-leach operation producing 1.1 million oz. over nine years. Noteworthy recent drill intercepts include 1 metre at 204 grams gold and 60 metres at 1.85 grams gold from surface.Watch the full conversation with The Northern Miner’s western editor, Henry Lazenby.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com