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Newcore Gold Ltd. has launched a 10,000-metre drill programme at its Enchi Gold Project in Ghana, focusing on infill and resource expansion drilling, an official statement said.
The programme, funded by the exercise of warrants totalling approximately $3.3mn aims to enhance the confidence level of the existing mineral resource estimate and outline resource growth across various zones.
“We are excited to continue to advance the development of the Enchi Gold Project while defining the multi-million-ounce potential of the project through the drill bit,” stated Luke Alexander, president and CEO of Newcore.
“This next phase of drilling will focus on advancing the confidence level of the existing resources at Enchi, an important next step of development work in advance of commissioning a pre-feasibility study for the project,” he added.
The drill programme includes 10,000 metres of reverse circulation (RC) drilling, targeting near-surface oxide and shallow sulphide mineralization, the statement added.
The primary goal is infill drilling for resource conversion, especially at the Sewum and Boin deposits, to prepare for a pre-feasibility study. Additionally, the programme will target resource expansion in areas where mineralisation remains open along strike and at depth.
“The warrant proceeds of approximately $3.3mn will fully fund this next phase of development work at Enchi, an important next step in de-risking the project with the completion of important infill drilling alongside additional metallurgical testwork,” Alexander added.
Enchi, spanning 248 km2 along a prolific gold belt in Ghana, is still largely underexplored, with more than 20 pre-resource targets identified. Future drilling will also focus on these early-stage targets to identify new discoveries and continue to define the district’s potential.
Newcore’s exploration and development work at Enchi also includes metallurgical testwork, trenching of high-priority surface anomalies, and greenfields work on the recently acquired Omanpe Licence. The project has already seen over 93,000 metres drilled, resulting in new discoveries and the completion of a Preliminary Economic Assessment Study, which confirmed the project’s robust economics.
Source: Daily Mail GH
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