202624 releases
Newcore Gold Drilling Intersects 2.16 g/t Gold over 37.0 Metres, Including 5.10 g/t Gold over 9.0 Metres, at the Enchi Gold Project, Ghana
Newcore Gold reports diamond drill results from the Nyam Gold Deposit at its Enchi Gold Project in Ghana, including hole NBDD093 with 2.16 g/t Au over 37.0 m from 205 m, including 5.10 g/t Au over 9.0 m from 233 m. The intersections are below the pits that constrain the Mineral Reserves. The release covers four diamond drill holes totalling 1,192 m.
Drill resultsNewcore Gold Drilling Intersects 1.16 g/t Gold over 41.0 Metres, Including 2.54 g/t Gold over 13.0 Metres, at the Enchi Gold Project, Ghana
RC drilling at the Boin Gold Deposit on the Enchi Gold Project in Ghana returned 1.16 g/t gold over 41.0 m from 2 m in hole KBRC407, including 2.54 g/t over 13.0 m from 25 m, plus 0.57 g/t over 59.0 m from 119 m in KBRC373, 0.47 g/t over 55.0 m from 52 m in KBRC379, and 1.66 g/t over 8.0 m from 6 m in KBRC389. The release covers 24 RC holes totalling 3,370 m, 22 of which intersected gold mineralization, within an 80,000 m program; results are not included in the current resource estimate or June 2026 Pre-Feasibility Study.
Drill resultsNewcore Gold Drilling Intersects 2.59 g/t Gold over 69 Metres, Including 6.41 g/t Gold over 24 Metres, at the Enchi Gold Project, Ghana
Hole KBRC411 at the Boin Gold Deposit, part of the Enchi Gold Project in Ghana, returned 2.59 g/t gold over 69.0 m from 58 m, including 6.41 g/t over 24.0 m from 59 m. KBRC414 intersected 0.83 g/t over 32.0 m from 70 m, including 3.37 g/t over 6.0 m, and KBRC404 returned 0.68 g/t over 22.0 m. The release covers 7 RC holes totalling 960 m; 47,100 m in 295 holes has been reported in the 80,000 m program.
Drill resultsNewcore Gold Announces Appointment of Mr. Sulemanu Koney to its Board of Directors
Sulemanu Koney has been appointed an independent, non-executive director of Newcore Gold, effective immediately. Koney has over 35 years of corporate experience, including 25 years at the Ghana Chamber of Mines, where he was Chief Executive Officer from 2014 until retiring in 2025. In connection with the appointment, he was granted 225,000 stock options at $0.305 per share for five years, vesting one-third annually over three years, and 150,000 performance share units vesting after one year, subject to TSX Venture Exchange approval.
ManagementNewcore Gold Announces Appointment of Vice President, Projects and Annual Grant of Equity Incentive Awards
Ben Collins has been appointed Vice President, Projects effective September 7, 2026, and Mal Karwowska promoted to Senior Vice President, Corporate Development and Investor Relations effective August 21, 2026, at Newcore Gold, which is advancing the Enchi Gold Project in Ghana where an 80,000-metre drill program is underway. The company also granted 2,170,000 stock options at $0.33 per share for five years, 2,215,000 RSUs and 450,000 PSUs to employees, consultants, directors and executives.
ManagementNewcore Gold Files Pre-Feasibility Study Technical Report for the Enchi Gold Project, Ghana
The NI 43-101 technical report supporting the Pre-Feasibility Study for the Enchi Gold Project in Ghana has been filed on SEDAR+, prepared by lead consultant Lycopodium (Americas) Limited with an effective date of June 23, 2026. The PFS assesses a conventional open pit operation with milling and carbon-in-leach processing of 5.5 million tonnes per annum using contract mining, based on the March 18, 2026 Mineral Resource Estimate incorporating drilling through October 6, 2025. It excludes more than 50,000 metres of the ongoing 80,000 metre drill program.
Study resultsNewcore Gold Drilling Intersects 3.67 g/t Gold over 25.3 Metres, at the Enchi Gold Project, Ghana
Diamond drill hole NBDD088 at the Nyam Gold Deposit, part of the Enchi Gold Project in Ghana, intersected 3.67 g/t Au over 25.3 m from 307.7 m, the highest grade-thickness intercept drilled to date at Nyam. Other results include 1.26 g/t Au over 18.0 m from 300.0 m in NBDD091 and 1.18 g/t Au over 14.0 m from 186.0 m in NBDD087. The release covers 5 diamond holes totalling 1,489 m, not included in the March 18, 2026 Mineral Resource Estimate or the Pre-Feasibility Study.
Drill resultsNewcore Gold Announces Results from Annual General Meeting
Shareholders approved all resolutions at Newcore Gold's annual general meeting held July 23, 2026, setting the number of directors at six and re-electing Douglas B. Forster, Blayne Johnson, Luke Alexander, Omaya Elguindi, Ryan King and Michael Vint. The long term incentive plan was re-approved and PricewaterhouseCoopers LLP was re-appointed as auditors. A total of 150,033,640 common shares were voted, representing 48% of shares outstanding at the record date. George Salamis did not stand for re-election after serving on the board since December 2014.
CorporateNewcore Gold Drilling Intersects 3.51 g/t Gold over 21.0 Metres, Including 5.91 g/t Gold over 9.0 Metres, at the Enchi Gold Project, Ghana
Diamond drilling at the Nyam Gold Deposit at the Enchi Gold Project in Ghana returned 3.51 g/t gold over 21.0 m from 245 m in hole NBDD086, including 5.91 g/t over 9.0 m from 251 m, plus 1.61 g/t over 14.0 m from 278 m in NBDD085 and 1.40 g/t over 21.0 m from 317 m in NBDD080. The release covers 11 holes totalling 4,123 m, part of an 80,000 m program; results are not included in the March 18, 2026 resource estimate or the June 2026 Pre-Feasibility Study.
Drill resultsNewcore Gold Announces Robust Pre-Feasibility Study for the Enchi Gold Project, Ghana
A pre-feasibility study for the Enchi Gold Project in Ghana outlines an open pit operation with milling and CIL processing at 5.5 Mtpa, showing an after-tax NPV5% of $647 million and 45% IRR at $4,200/oz gold, and $496 million and 37% at $3,800/oz. Initial capital is $351 million, with 953,350 payable ounces over a 9.3-year mine life, averaging about 104,000 ounces annually and LOM AISC of $2,290/oz. Newcore plans to apply for a mining lease this year.
Study resultsNewcore Gold Drilling Intersects 1.37 g/t Gold over 24.0 Metres, Including 1.93 g/t Gold over 12.0 Metres, at the Enchi Gold Project, Ghana
Diamond drilling at the Sewum Gold Deposit on the Enchi Gold Project in Ghana returned 1.37 g/t Au over 24.0 m from 94.0 m in hole SWDD121, including 1.93 g/t Au over 12.0 m, plus 0.55 g/t Au over 16.5 m from 30.0 m; hole SWDD115 cut 0.74 g/t Au over 10.2 m and 9.24 g/t Au over 1.9 m from 251.4 m, including 17.36 g/t Au over 1.0 m. The results cover 6 holes totalling 2,069 m and are not in the current resource. A Pre-Feasibility Study is targeted for completion by the end of June 2026.
Drill resultsNewcore Gold Increases Drill Program to 80,000 Metres at the Enchi Gold Project, Ghana
The drill program at the Enchi Gold Project in Ghana has been expanded to 80,000 metres, following completion of a $15 million equity financing, with four rigs on site targeting resource conversion, resource growth and discovery. The program began in August 2024; the first 28,000 metres fed into an updated Mineral Resource Estimate announced March 18, 2026 that more than doubled the Indicated resource. A Pre-Feasibility Study is targeted for completion by the end of June 2026. Newcore also granted 1,340,000 restricted share units vesting over three years.
Drill resultsNewcore Gold Closes $15 Million Bought Deal Financing
A bought deal financing of 28,310,000 common shares at $0.53 per share closed for gross proceeds of $15,004,300, leaving 312,695,640 common shares outstanding, with management and the board holding 12%. Proceeds will fund exploration and development at the Enchi Gold Project in Ghana and for general corporate and working capital purposes. Haywood Securities led the syndicate, with Canaccord Genuity and SCP Resource Finance, receiving an aggregate cash fee of $876,836; insiders acquired 250,000 shares.
FinancingNewcore Gold Announces Upsized $15 Million Bought Deal Financing
An amended agreement with Haywood Securities Inc. and a syndicate of underwriters increases Newcore Gold's previously announced bought deal to 28,310,000 common shares at $0.53 per share for aggregate gross proceeds of $15,004,300. Net proceeds will fund exploration and development at the Enchi Gold Project in Ghana and general corporate and working capital purposes. Closing is expected on or about May 28, 2026, subject to TSX Venture Exchange and regulatory approvals.
FinancingNewcore Gold Announces $10 Million Bought Deal Financing
A bought-deal financing of 18,870,000 common shares at $0.53 per share for gross proceeds of $10,001,100 has been agreed with a syndicate led by Haywood Securities Inc. The underwriters hold an option for up to an additional 2,830,500 shares for up to $1,500,165 in further gross proceeds. Net proceeds will fund exploration and development at the Enchi Gold Project in Ghana and general corporate and working capital purposes, with closing expected on or about May 28, 2026.
FinancingNewcore Gold Drilling Intersects 1.23 g/t Gold over 33.0 Metres, Including 2.16 g/t Gold over 13.0 Metres, at the Enchi Gold Project, Ghana
Diamond drilling at the Boin Gold Deposit on the Enchi Gold Project in Ghana returned 1.23 g/t gold over 33.0 m from 337.0 m, including 2.16 g/t over 13.0 m, in hole KBDD107, while KBDD111 hit 1.38 g/t over 15.0 m from 193.0 m, including 5.99 g/t over 3.0 m, and KBDD109 returned 1.56 g/t over 11.1 m. The release covers 10 holes totalling 3,654 m, drilled below the pits constraining the resource estimate to a maximum vertical depth of 375 m. A pre-feasibility study is targeted for completion by the end of June 2026.
Drill resultsNewcore Gold Files Technical Report for the Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana
The NI 43-101 technical report supporting the updated mineral resource estimate for the Enchi Gold Project in Ghana has been filed on SEDAR+, prepared by DRA Americas Inc. with an effective date of October 6, 2025. Indicated resources total 83.6 million tonnes at 0.56 g/t Au for 1,502,000 ounces gold, plus inferred resources of 40.1 million tonnes at 0.49 g/t Au for 626,000 ounces, using a US$3,200 per ounce gold price. The indicated resource will underpin a Pre-Feasibility Study targeted for completion by the end of June 2026.
Resource updateNewcore Gold Drilling Intersects 1.59 g/t Gold over 15.5 Metres, Including 3.22 g/t Gold over 6.4 Metres, at the Enchi Gold Project, Ghana
Diamond drilling at the Sewum Gold Deposit on the Enchi Gold Project in Ghana returned 1.59 g/t Au over 15.5 m from 147.5 m in hole SWDD107, including 3.22 g/t Au over 6.4 m, while SWDD112 cut 1.00 g/t Au over 10.5 m from surface and 0.69 g/t Au over 41.0 m from 21.5 m. The release covers 8 holes totalling 1,685 m, all intersecting gold mineralization, from the 60,000-metre program; a Pre-Feasibility Study is targeted for completion by the end of June 2026.
Drill resultsNewcore Gold Announces Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana
An updated NI 43-101 mineral resource estimate for the Enchi Gold Project in Ghana, prepared by DRA Global with an effective date of October 6, 2025, reports an Indicated resource of 83.6 million tonnes at 0.56 g/t Au for 1,502,000 ounces gold and an Inferred resource of 40.1 million tonnes at 0.49 g/t Au for 626,000 ounces, using a US$3,200 per ounce constraining pit. The Indicated resource, more than double the 2023 estimate, will form the basis for a Pre-Feasibility Study targeted for completion by end of June 2026.
Resource updateNewcore Gold Increases Drill Program to 60,000 Metres at the Enchi Gold Project, Ghana
The drill program at the Enchi Gold Project in Ghana has been increased to 60,000 metres, with three rigs active on site, funded in part by approximately $10 million in proceeds from warrants exercised prior to their February 27, 2026 expiry. The program, which began in August 2024, is in its second phase, targeting mineralization below 200 vertical metres and resource growth along strike. A Pre-Feasibility Study is targeted for completion by the end of June 2026.
Drill resultsNewcore Gold Announces Proceeds of $10.3 Million from Warrant Exercises
Total proceeds of approximately $10.3 million were received from the exercise of 20,548,000 common share purchase warrants that expired on February 27, 2026. The warrants had an exercise price of $0.50 and were issued on February 27, 2025 following a private placement. Following the exercise and expiry, share capital consists of 284,385,640 common shares, 9,000,000 stock options and 6,742,665 RSUs and PSUs. Funds are directed to the Enchi Gold Project in Ghana, including a Pre-Feasibility Study targeted by the end of June 2026 and a 45,000-metre drill program.
FinancingNewcore Gold Commissions Pre-Feasibility Study for its Enchi Gold Project, Ghana
A Pre-Feasibility Study has been commissioned for the Enchi Gold Project in Ghana, targeted for completion by the end of H1 2026, with Lycopodium Minerals Canada as lead consultant, supported by Fuse Advisors, Knight Piesold and DRA Global. The PFS will assume open pit mining with standard milling and carbon-in-leach processing after CIL testwork returned recoveries of 89.4% to 97.7%, versus 75% to 85% previously assumed for heap leach. It incorporates roughly 30,000 metres of additional drilling plus metallurgical, hydrogeological, geotechnical and environmental work from 2024 and 2025.
Study resultsNewcore Gold Diamond Drilling Intersects First Visible Gold, High-Grade Gold Mineralization with 147.5 g/t Gold over 1.0 Metre and 3.22 g/t Gold over 17.0 Metres, at the Enchi Gold Project, Ghana
Diamond drilling at the Boin Gold Deposit on the Enchi Gold Project in Ghana returned 147.5 g/t gold over 1.0 metre from 310 m in hole KBDD100, the first visible gold encountered by drilling on the Project, and 3.22 g/t Au over 17.0 m from 327 m plus 1.70 g/t Au over 25.5 m from 285 m in KBDD102. The release covers six holes totalling 1,930 m, all intersecting gold, to a maximum vertical depth of 312 metres. Newcore also engaged SRC Swiss Resource Capital AG for European investor relations at 5,000 CHF per month for one year from January 2026.
Drill resultsNewcore Gold Diamond Drilling Intersects High-Grade Gold Mineralization with 174 g/t Gold over 1.0 Metre and 3.54 g/t Gold over 23.0 Metres, at the Enchi Gold Project, Ghana
Diamond drilling at the Boin Gold Deposit on the Enchi Gold Project in Ghana returned 173.75 g/t gold over 1.0 metre from 264 m in hole KBDD098, and 3.54 g/t Au over 23.0 m from 253 m, including 6.92 g/t Au over 8.0 m, in KBDD097. KBDD088 cut 2.03 g/t Au over 16.5 m from 190 m. The release covers 5 holes totalling 1,699 m; 31,189 m in 242 holes have been reported from the 45,000-metre program, which supports a Pre-Feasibility Study in H1 2026.
Drill results
202519 releases
Newcore Gold Drilling Intersects 3.16 g/t Gold over 3.0 Metres from 62 Metres and 0.78 g/t Gold over 16.0 Metres from 16 Metres, at the Enchi Gold Project, Ghana
Shallow reverse circulation drilling at the Boin Gold Deposit on the Enchi Gold Project in Ghana returned 3.16 g/t gold over 3.0 metres from 62 metres in KBRC370 and 0.78 g/t gold over 16.0 metres from 16 metres in KBRC368, including 8.17 g/t over 1.0 metre. The release covers 6 RC holes totalling 550 m, completing the first phase of RC drilling, with 29,490 m in 237 holes reported to date. Diamond drilling is underway, with first assays expected in January 2026 and a Pre-Feasibility Study targeted for completion by end of H1 2026.
Drill resultsNewcore Gold Drilling Intersects 1.08 g/t Gold over 22.0 Metres and 1.29 g/t Gold over 15.0 Metres, at the Enchi Gold Project, Ghana
Reverse circulation drilling at the Kwakyekrom Gold Deposit on the Enchi Gold Project in Ghana returned 1.08 g/t Au over 22.0 m from 112 m, including 2.78 g/t Au over 7.0 m from 126 m, in hole KKRC099, and 1.29 g/t Au over 15.0 m from 88 m in KKRC085A, both outside the current pit-constrained resource. The release covers 24 RC holes totalling 3,843 m, all of which intersected gold mineralization. The 45,000-metre program is now in its second phase, with a Pre-Feasibility Study targeted for H1 2026.
Drill resultsNewcore Gold Increases Drill Program to 45,000 Metres at the Enchi Gold Project, Ghana
The 2024–2025 drill program at the 100%-owned Enchi Gold Project in Ghana has been increased to 45,000 metres, with the company holding approximately $10 million in cash after warrants expired September 26, 2025. A total of 25,097 metres in 207 RC holes has been reported, with 98.5% of holes intersecting gold; results include 2.25 g/t Au over 56.0 m from 96 m at Boin and 1.85 g/t Au over 62.0 m from 1 m at Sewum. A Pre-Feasibility Study is to be commissioned in Q4 2025.
Drill resultsNewcore Gold Announces Proceeds of $3.8 Million from Warrant Exercises
Proceeds of approximately $3.8 million were received from the exercise of 9,558,578 common share purchase warrants at $0.40 that expired September 26, 2025, leaving a cash balance of roughly $10.1 million. Funds will support a 35,000-metre drill program and development work toward a Pre-Feasibility Study in H1 2026 at the Enchi Gold Project in Ghana. Shares outstanding total 262,986,096, with 20,423,000 warrants at $0.50 remaining, expiring February 27, 2026.
FinancingNewcore Gold Drilling Intersects 184 g/t Gold over 1.0 Metre and 3.06 g/t Gold over 13.0 Metres, at the Enchi Gold Project, Ghana
Reverse circulation drilling at the Kojina Hill target on the Enchi Gold Project in Ghana returned 184 g/t gold over 1.0 metre from 126 m in hole KJRC033, within a 24-metre mineralized zone, and 3.06 g/t gold over 13.0 m from surface in KJRC034, including 8.09 g/t over 3.0 m. Results cover 7 RC holes totalling 970 m, all of which intersected gold mineralization; Kojina Hill has no defined mineral resource. A 35,000-metre drill program is underway ahead of a Pre-Feasibility Study later this year.
Drill resultsNewcore Gold Announces Annual Grant of Equity Incentive Awards
Annual equity incentive awards totalling 2,815,000 stock options, 1,880,000 restricted share units and 525,000 performance share units have been granted to employees, consultants, directors and executives of Newcore Gold. The stock options carry an exercise price of $0.64 per share for a five-year term. The awards are subject to regulatory approval and vesting provisions under the company's long-term incentive plan. Newcore is advancing the Enchi Gold Project in Ghana.
CorporateNewcore Gold Announces Results from Annual General Meeting
Shareholders approved all resolutions at Newcore Gold's Annual General Meeting held July 17, 2025, including setting the board at seven directors and re-electing Douglas B. Forster, Blayne Johnson, Luke Alexander, Omaya Elguindi, Ryan King, George Salamis and Michael Vint. The long term incentive plan was re-approved and PricewaterhouseCoopers LLP was re-appointed as auditors. A total of 122,797,979 common shares were voted, representing 48.38% of shares issued and outstanding at the record date.
CorporateNewcore Gold Drilling Intersects 0.89 g/t Gold over 33.0 Metres and 3.98 g/t Gold over 6.0 Metres, at the Enchi Gold Project, Ghana
Reverse circulation drilling at the Sewum deposit on the Enchi Gold Project in Ghana returned 0.89 g/t gold over 33.0 metres from 1 m in hole SWRC258 and 3.98 g/t gold over 6.0 metres from 2 m in SWRC269, including 22.62 g/t over 1.0 m. Other intercepts included 0.51 g/t over 40.0 m, 0.56 g/t over 41.0 m and 0.51 g/t over 41.0 m. Results cover 47 RC holes totalling 4,493 m, part of a 35,000-metre program ahead of a Pre-Feasibility Study.
Drill resultsNewcore Gold Drilling Intersects 4.41 g/t Gold over 24.0 Metres, including 9.08 g/t Gold over 10.0 Metres, at the Enchi Gold Project, Ghana
Drilling at the Boin Gold Deposit on the Enchi Gold Project in Ghana returned 4.41 g/t gold over 24.0 m from 126 m in hole KBRC357, including 9.08 g/t over 10.0 m, and 1.58 g/t over 52.0 m from 75 m in KBRC360, including 3.04 g/t over 16.0 m. The release reports 11 RC holes totalling 2,042 m, part of a 35,000-metre program; 19,634 m in 153 holes have been reported to date. A resource update and Pre-Feasibility Study are targeted for H1 2026.
Drill resultsNewcore Gold Drilling Intersects 2.25 g/t Gold over 56.0 Metres from 96 Metres and 1.16 g/t Gold over 72.0 Metres from 104 Metres at the Enchi Gold Project, Ghana
RC drilling at the Boin deposit on the Enchi Gold Project in Ghana returned 2.25 g/t gold over 56.0 metres from 96 metres in KBRC352, including 3.83 g/t over 15.0 metres, and 1.16 g/t over 72.0 metres from 104 metres in KBRC344, including 3.06 g/t over 10.0 metres. Other results included 2.13 g/t over 29.0 metres from 26 metres and 2.15 g/t over 24.0 metres from surface. The release covers 14 holes totalling 2,055 metres within a 35,000-metre program aimed at resource conversion ahead of a Pre-Feasibility Study later this year.
Drill resultsNewcore Gold Drilling Intersects 2.50 g/t Gold over 15.0 Metres and 3.00 g/t Gold over 10.0 metres at the Enchi Gold Project, Ghana
Drilling at the Enchi Gold Project in Ghana returned 2.50 g/t gold over 15.0 metres from 45 m in hole NBRC108 and 3.00 g/t gold over 10.0 metres from 104 m in NBRC110 at the Nyam Gold Deposit, plus 1.68 g/t over 12.0 metres in NBRC114. At the Kojina Hill target, which has no defined mineral resource, KJRC026 cut 0.67 g/t over 37.0 metres, including 1.05 g/t over 20.0 metres, and KJRC031 returned 6.80 g/t over 2.0 metres from 5 m. Results cover 20 RC holes from the ongoing 35,000-metre program.
Drill resultsNewcore Gold Drilling Intersects 0.73 g/t Gold over 68.0 Metres and 1.39 g/t Gold over 24.0 metres at the Enchi Gold Project, Ghana
Reverse circulation drilling at the Sewum Gold Deposit on the Enchi Gold Project in Ghana returned 0.73 g/t gold over 68.0 metres from 62 m in hole SWRC213, 0.74 g/t over 49.0 m from 18 m in SWRC223, and 1.39 g/t over 24.0 m from 22 m in SWRC208, including 6.56 g/t over 4.0 m. The release covers 21 RC holes totalling 2,546 m, part of a 35,000-metre program aimed at resource conversion ahead of a Pre-Feasibility Study later this year.
Drill resultsNewcore Gold Increases Drill Program to 35,000 Metres and Intersects 1.28 g/t Gold over 63.0 Metres at the Enchi Gold Project, Ghana
The 2024–2025 drill program at the Enchi Gold Project in Ghana has been expanded to 35,000 metres following completion of a $15 million equity financing, with a Pre-Feasibility Study to be commissioned in the second half of 2025. Reverse circulation drilling at the Boin deposit returned 1.28 g/t gold over 63.0 m from 9 m in KBRC328 and 2.18 g/t over 23.0 m from 6 m in KBRC335, including 5.58 g/t over 8.0 m. Results cover 23 holes totalling 2,252 m, 21 of which intersected gold mineralization.
Drill resultsNewcore Gold Announces Closing of $15 Million Private Placement Financing
A private placement of 41,096,000 units at $0.365 per unit closed for gross proceeds of $15,000,040, each unit comprising one common share and one-half warrant exercisable at $0.50 until February 27, 2026. Proceeds will fund exploration and development at the Enchi Gold Project in Ghana and general corporate and working capital purposes. The Company now has 250,293,285 shares outstanding, with management and directors holding 15%; agents received a $750,002 cash commission, and securities are subject to a hold period ending June 28, 2025.
FinancingNewcore Gold Recognized as a 2025 TSX Venture 50 Company
Newcore Gold has been named one of the top 50 performing companies of 2024 on the TSX Venture Exchange, from over 1,600 TSXV issuers, in the 2025 TSX Venture 50 ranking. The ranking equally weights market capitalization growth, share price appreciation and Canadian consolidated trading value during 2024; the company cited share price appreciation of 121% in 2024. Newcore is advancing its 248 km² Enchi Gold Project in Ghana.
CorporateNewcore Gold Announces Upsize of Private Placement Financing to $15 Million
A previously announced private placement has been increased from $12 million to $15 million, with up to 41,096,000 units offered at $0.365 per unit for gross proceeds of up to $15,000,040. Each unit includes one common share and one-half warrant exercisable at $0.50 for 12 months after closing. Proceeds will fund exploration and development at the 100%-owned Enchi Gold Project in Ghana and general corporate and working capital purposes, with closing expected on or about February 27, 2025.
FinancingNewcore Gold Announces $12 Million Brokered Private Placement Financing
A brokered private placement of up to 32,877,000 units at $0.365 per unit for gross proceeds of up to $12,000,105 has been agreed with Paradigm Capital Inc. as lead agent and sole bookrunner. Each unit includes one common share and one-half warrant exercisable at $0.50 for 12 months after closing. Proceeds will fund exploration and development at the 100%-owned Enchi Gold Project in Ghana and general corporate and working capital purposes, with closing expected on or about February 27, 2025.
FinancingNewcore Gold Drilling Intersects 1.85 g/t Gold over 62.0 Metres and 0.75 g/t Gold over 68.0 Metres at the Enchi Gold Project, Ghana
Drilling at the Sewum Gold Deposit on the Enchi Gold Project in Ghana returned 1.85 g/t gold over 62.0 metres from 1 m in hole SWRC194, including 8.36 g/t Au over 10.0 m from 13 m, plus a second intercept of 0.75 g/t Au over 68.0 m from 99 m. Other holes returned 2.39 g/t Au over 13.0 m (SWRC202) and 1.07 g/t Au over 27.0 m (SWRC201). Results cover 33 RC holes totalling 2,922 m, 32 of which intersected gold, within a 10,000-metre program.
Drill resultsNewcore Gold Drilling Intersects 0.97 g/t Gold over 96.0 Metres and 1.06 g/t Gold over 81.0 Metres at the Enchi Gold Project, Ghana
Reverse circulation drilling at the Boin Gold Deposit on the Enchi Gold Project in Ghana returned 0.97 g/t gold over 96.0 metres from 100 m in hole KBRC316, including 2.05 g/t over 10.0 m, and 1.06 g/t over 81.0 m from 127 m in KBRC313, including 2.50 g/t over 17.0 m. Results cover 10 RC holes totalling 2,060 m across a one-kilometre strike length, part of a 10,000-metre resource conversion and growth program; 5,458 m in 31 holes have been reported to date.
Drill results
202413 releases
Newcore Gold Announces 93.0% Gold Recoveries in Column Testwork for the Sewum and Boin Deposits at the Enchi Gold Project, Ghana
Seven column leach tests on oxide material from the Sewum (five samples) and Boin (two samples) deposits at the Enchi Gold Project in Ghana returned an average gold recovery of 93.0%, with a range of 82.6% to 97.2%, after 90 to 120 days. Samples averaged 0.56 g/t Au, ranging from 0.32 to 0.84 g/t Au, with cyanide consumption averaging 1.63 kg/t and 0.98 kg/t hydrated lime. Further testwork on oxide, transition and sulphide material is underway, alongside a 10,000-metre RC drill program.
Study resultsNewcore Gold Drilling Intersects 204 g/t Gold over 1.0 Metre and 3.36 g/t Gold over 28.0 Metres at the Enchi Gold Project, Ghana
RC drilling at the Boin Gold Deposit on the Enchi Gold Project in Ghana returned 204.27 g/t gold over 1.0 metre from 59 m in hole KBRC301, the highest-grade interval to date at Enchi, and 3.36 g/t gold over 28.0 metres from 120 m in KBRC307A, including 37.58 g/t over 2.0 m. Results cover 10 RC holes totalling 1,808 m, all of which intersected gold mineralization, part of a 10,000-metre program; assays are pending for a further 2,060 metres in 10 holes.
Drill resultsNewcore Gold Announces Appointment of Alan Pangbourne as Strategic Advisor
Alan Pangbourne has been appointed Strategic Advisor to Newcore Gold, bringing more than 35 years of mining sector experience, including roles as President and CEO of Guyana Goldfields until its 2020 sale to Zijin Mining, COO of SSR Mining, and VP Projects South America at Kinross. He currently serves as a Non-Executive Director of OceanaGold and Chesapeake Gold. Newcore is advancing its 248 km² Enchi Gold Project in Ghana toward a pre-feasibility study, with drilling underway.
ManagementNewcore Gold Drilling Intersects 0.94 g/t Gold over 54.0 Metres, Including 2.08 g/t Gold over 11.0 Metres at the Enchi Gold Project, Ghana
RC drilling at the Boin Gold Deposit, part of the Enchi Gold Project in Ghana, returned 0.94 g/t Au over 54.0 m from 150 m in hole KBRC294, including 2.11 g/t Au over 7.0 m and 2.08 g/t Au over 11.0 m, plus 3.24 g/t Au over 6.0 m from 107 m. Other holes returned 1.44 g/t Au over 25.0 m, 1.25 g/t Au over 24.0 m and 0.53 g/t Au over 61.0 m. Results cover 5 holes totalling 784 m within a 10,000-metre RC program now underway.
Drill resultsNewcore Gold Drilling Intersects 1.96 g/t Gold over 62.0 Metres, Including 2.23 g/t Gold over 28.0 Metres at the Enchi Gold Project, Ghana
Reverse circulation drilling at the Boin Gold Deposit, part of the Enchi Gold Project in Ghana, returned 1.96 g/t gold over 62.0 metres from 139 m in hole KBRC288, including 2.31 g/t over 25.0 m and 2.23 g/t over 28.0 m from 171 m, the latter outside the limits of the pit constraining the current resource. Results cover 6 holes totalling 806 m (KBRC288–KBRC293), all of which intersected gold mineralization. The holes are the first from a 10,000-metre RC program underway at Enchi.
Drill resultsNewcore Gold Announces Closing of $5.5 Million Private Placement Financings
Two non-brokered private placements have closed for combined gross proceeds of $5,543,975, comprising 18,965,518 units at $0.29 under a listed issuer financing exemption offering for $5,500,000 and 151,638 units at $0.29 for $43,975. Each unit includes one common share and one-half warrant exercisable at $0.40 until September 26, 2025. Proceeds will fund exploration and development at the 100%-owned Enchi Gold Project in Ghana and general working capital. Fees of $119,110.25 were paid to third parties; insiders participated.
FinancingNewcore Gold Announces Upsize of Private Placement Financing
The non-brokered private placement announced September 5, 2024 has been upsized to up to $5,500,000 from $5,000,000, through up to 18,965,518 units at $0.29 per unit, each unit comprising one common share and one-half warrant exercisable at $0.40 for 12 months after closing. Proceeds will fund exploration and development at the 100%-owned Enchi Gold Project in Ghana and general corporate and working capital purposes. Closing is scheduled on or about September 26, 2024, subject to TSX Venture Exchange approval.
FinancingNewcore Gold Announces $5 Million Private Placement Financing
A non-brokered private placement will raise up to $5,000,000 through the sale of up to 17,241,380 units at $0.29 per unit, each unit comprising one common share and one-half warrant exercisable at $0.40 for 12 months after closing. Proceeds are intended for exploration and development at the 100%-owned Enchi Gold Project in Ghana and general corporate and working capital purposes. The offering, made under the Listed Issuer Financing Exemption, is scheduled to close on or about September 26, 2024, subject to TSX Venture Exchange approval.
FinancingNewcore Gold Announces Proceeds of $3.3 Million from Warrant Exercise
Proceeds of approximately $3.3 million were received from the exercise of 16,666,666 common share purchase warrants that expired on June 28, 2024, at an exercise price of $0.20; the warrants were issued on June 28, 2023 under a non-brokered private placement. Newcore Gold now has a cash balance of approximately $4.7 million and is funded for the 10,000-metre drill program announced June 26, 2024 at its Enchi Gold Project in Ghana. Shares outstanding total 189,460,129, with no warrants remaining.
FinancingNewcore Gold Announces Start of 10,000 Metre Drill Program at the Enchi Gold Project, Ghana
A 10,000-metre reverse circulation drill program has started at the 100%-owned Enchi Gold Project in Ghana, focused on infill drilling for resource conversion at the Sewum and Boin deposits plus resource expansion at select targets. The program is funded by approximately $3.3 million from the exercise of warrants expiring June 28, 2024, with about 16.2 million of 16.6 million $0.20 warrants exercised as of June 25, 2024 for roughly $3.2 million. A drill rig is expected on site within the next month.
Drill resultsNewcore Gold Files Technical Report for the Updated Preliminary Economic Assessment for the Enchi Gold Project, Ghana
The NI 43-101 technical report supporting the updated Preliminary Economic Assessment for the 100%-owned Enchi Gold Project in Ghana has been filed on SEDAR+, with an effective date of April 24, 2024. The PEA outlines an open pit, heap leach operation processing 8.1 mtpa, with initial capital of $106 million, average annual production of 121,839 ounces and 1.1 million ounces recovered over a 9-year life. At $1,850/oz gold, after-tax NPV5% is $371 million with a 58% IRR and 1.6-year payback.
Study resultsNewcore Gold Announces Positive Updated Preliminary Economic Assessment for the Enchi Gold Project, Ghana
An updated PEA for the 100%-owned Enchi Gold Project in Ghana outlines an after-tax NPV5% of $371 million and 58% after-tax IRR at $1,850/oz gold, with initial capital costs of $106 million and a 1.6-year after-tax payback. The open pit, heap leach operation would process 8.1 mtpa, averaging 121,839 ounces of gold annually and recovering 1.1 million ounces over a 9-year life at a mined grade of 0.60 g/t Au, 81.8% recovery and AISC of $1,018/oz. The technical report will be filed within 45 days.
Study resultsNewcore Gold Announces Addition of Omanpe Prospecting License and Completion of an Updated Environmental and Social Baseline Study at the Enchi Gold Project, Ghana
The Omanpe prospecting licence, covering 32.12 km2 about five kilometres east of the Sewum Gold Deposit, has been added to the Enchi Gold Project in Ghana, increasing its size to 248 km2; field work there is expected to begin in Q1 2024. An updated Environmental and Social Baseline Study, completed in late 2023 by Abbakus Geosocial Consult Limited, concluded there are no existing issues related to water, soil, noise or air quality for the proposed development. An updated PEA remains on track for H1 2024.
Corporate
202310 releases
Newcore Gold Announces Average Gold Recovery of 91.9% from Bulk-Scale Pilot Heap Tests at the Enchi Gold Project, Ghana
Two bulk-scale pilot heap tests on 15-tonne composite oxide samples from the Sewum and Boin deposits at the Enchi Gold Project in Ghana returned an average gold recovery of 91.9% after 60 days of leaching, with 93.5% at Sewum (head grade 0.81 g/t Au) and 90.3% at Boin (1.09 g/t Au). Reagent consumption averaged 0.74 kg/t cyanide, 8 kg/t cement and 2.28 kg/t lime. Results will be incorporated into an updated PEA targeted for H1 2024.
Study resultsNewcore Gold Commissions Updated Preliminary Economic Assessment Study for the Enchi Gold Project, Ghana
An updated NI 43-101 Preliminary Economic Assessment has been commissioned for the 100%-owned Enchi Gold Project in Ghana, with Lycopodium leading process plant and infrastructure work, Micon International providing mine design and environmental services, and SEMS Exploration handling mineral resource assessment. Results are targeted for the end of H1 2024. The study will incorporate the 2023 Mineral Resource Estimate of 41.7 million tonnes at 0.55 g/t Au (743,500 ounces Indicated) and 46.6 million tonnes at 0.65 g/t Au (972,000 ounces Inferred), updated costs and metallurgical testwork since the 2021 study.
Study resultsNewcore Gold Announces 91.7% Gold Recoveries in Column Testwork for the Sewum and Boin Deposits at the Enchi Gold Project, Ghana
Five column leach tests on oxide composite samples from the Sewum and Boin deposits at the Enchi Gold Project in Ghana returned an average gold recovery of 91.7%, with a range of 88.4% to 95.6% after 60 to 90 days. Cyanide consumption averaged 1.1 kg/t with 1.3 kg/t hydrated lime added to maintain pH above 10.5, and bond work indices averaged 9.58 KWh/t. Additional column tests, a pilot heap bench-scale test in Q4 2023 and sulphide testing are underway, with results to be incorporated into a PEA update scheduled for H1 2024.
Study resultsNewcore Gold Announces Appointment of Vice President, Projects
Branden Fraser, P.Eng., has been appointed Vice President, Projects, effective September 8, 2023, and was granted 300,000 stock options at $0.12 per share for a five-year term, subject to regulatory approval and vesting provisions. Newcore Gold has also begun engaging an independent engineering firm to prepare an updated NI 43-101 Preliminary Economic Assessment for its 100%-owned Enchi Gold Project in Ghana, incorporating the updated Mineral Resource Estimate announced earlier this year and subsequent metallurgical testwork.
ManagementNewcore Gold Announces Annual Grant of Equity Incentive Award
1,540,000 stock options and 531,000 restricted share units have been granted to employees, directors and executives of Newcore Gold as its annual equity incentive awards. The options carry an exercise price of $0.20 per share and a five-year term. The awards are subject to regulatory approval and vesting provisions under the Company's long-term incentive plan. Newcore is advancing the Enchi Gold Project in Ghana.
CorporateNewcore Gold Drilling Intersects 3.28 g/t Gold over 11.0 Metres, Including 6.57 g/t Gold over 4.0 Metres at the Enchi Gold Project, Ghana
Diamond drilling at the Nyam deposit on the Enchi Gold Project in Ghana returned 1.58 g/t gold over 26.3 m in hole NBDD063, including 3.28 g/t over 11.0 m and 6.57 g/t over 4.0 m, while NBDD064 returned 1.16 g/t over 36.4 m, including 2.03 g/t over 17.4 m. Results cover five holes totalling 2,155 m (NBDD060–NBDD064), all of which intersected gold mineralization. Metallurgical bottle roll tests on 14 sulphide composites from Nyam averaged 91.7% gold recovery, ranging from 82.7% to 98.0%.
Drill resultsNewcore Gold Announces Director Resignation
Edward Farrauto has resigned as a director of Newcore Gold, effective immediately, to focus on other professional commitments. He had served on the board since January 18, 2010. Newcore Gold is advancing its Enchi Gold Project in Ghana, a 216 km² land package covering 40 kilometres of the Bibiani Shear Zone.
ManagementNewcore Gold Announces Closing of $5 Million Private Placement Financing
A non-brokered private placement closed with the issuance of 33,333,332 units at $0.15 per unit for gross proceeds of $4,999,999.80, each unit comprising one common share and one-half warrant exercisable at $0.20 until June 28, 2024. Proceeds will fund exploration and development at the 100%-owned Enchi Gold Project in Ghana and general corporate and working capital purposes. The Company paid $25,125 to arm's-length third parties for introducing subscribers, and insiders participated, holding approximately 21% post-financing.
FinancingNewcore Gold Files Technical Report for the Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana
A NI 43-101 technical report supporting the updated mineral resource estimate for the 100%-owned Enchi Gold Project in Ghana has been filed on SEDAR, prepared by BBA E&C Inc. with an effective date of January 25, 2023 and using a US$1,650 per ounce gold price. The resource, first reported March 7, 2023, includes an inaugural Indicated Mineral Resource of 743,500 ounces of gold at 0.55 g/t and an Inferred Mineral Resource of 972,000 ounces at 0.65 g/t.
Resource updateNewcore Gold Announces Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana
An updated NI 43-101 mineral resource estimate for the Enchi Gold Project in Ghana, effective January 25, 2023, outlines an inaugural Indicated resource of 743,500 ounces of gold at 0.55 g/t (41,736,000 tonnes) and an Inferred resource of 972,000 ounces at 0.65 g/t (46,556,000 tonnes), reported using a constraining pit at US$1,650 per ounce gold. It includes a first underground Inferred resource of 135,900 ounces at 2.42 g/t and an initial Tokosea Inferred resource of 46,900 ounces at 0.75 g/t. Prepared by BBA E&C Inc., it incorporates about 34,000 metres of drilling; roughly 38,000 metres is not included.
Resource update
202210 releases
Newcore Gold Provides an Update on Work Programs and Exploration Activities Underway at the Enchi Gold Project, Ghana
An updated Mineral Resource Estimate for the Enchi Gold Project in Ghana is scheduled for release in January 2023, incorporating roughly 40,000 metres of the 90,000 metre drill program completed mid-2022 plus drone topographic surveys, with part of the resource expected to move to the Indicated category. Diamond drilling is underway at the Nyam deposit targeting high-grade sulphide mineralization, with results anticipated in Q1 2023. Trenching returned 0.73 g/t Au over 22.0 m at Nkwanta and 0.65 g/t Au over 24.0 m at Agyeikrom. The company held $5 million in cash and short-term investments at the end of Q3 2022.
CorporateNewcore Gold Announces 92.4% Gold Recoveries in Column Testwork for the Sewum and Boin Deposits at the Enchi Gold Project, Ghana
Three column leach tests on composite samples from the Sewum and Boin deposits at the Enchi Gold Project in Ghana returned an average gold recovery of 92.4% over 90 days, with a range of 89.0% to 98.6%. Cyanide consumption averaged 0.63 kg/t with 1.4 kg/t hydrated lime addition, and slumping averaged 9.1%. Further optimization column tests, a field bench-scale test, and testing of sulphide mineralization in 2023 are planned.
Study resultsNewcore Gold Announces Start of Drill Program at the Enchi Gold Project, Ghana
A 5,000 metre discovery and resource expansion drill program has begun at the 100%-owned Enchi Gold Project in Ghana, using both diamond and reverse circulation drilling. Diamond drilling will target higher-grade sulphide mineralization at depth, which has been defined to a vertical depth of 300 metres, while RC drilling targets near-surface oxide and shallow sulphide mineralization. The program is funded following a $5 million brokered equity financing closed July 12, 2022; an updated Mineral Resource Estimate is expected by the end of 2022.
Drill resultsNewcore Gold Completes 90,000 Metre Drill Program, Significantly Expanding the Mineralized Footprint at the Enchi Gold Project, Ghana
A 90,000 metre drill program at the Enchi Gold Project in Ghana has been completed, totalling 575 holes for 92,583 metres across four deposits and earlier-stage targets. Results include 95.16 g/t Au over 2.0 m from 109 m in hole KBRC250 at Boin, 4.51 g/t Au over 13.0 m from 236 m in NBDD048 at Nyam, and 1.98 g/t Au over 25.0 m from 3.0 m at Sewum Extension. An updated Mineral Resource Estimate is expected by the end of 2022, with further drilling planned for late Q3 2022.
Drill resultsNewcore Gold Completes C$5 Million Bought Deal Financing
A bought deal public offering closed with 16,700,000 common shares issued at $0.30 per share for aggregate gross proceeds of approximately $5.0 million, leaving 138.1 million shares outstanding and management and the board holding a 24% equity interest. Proceeds will fund exploration and development at the Enchi Gold Project in southwest Ghana plus working capital and general corporate purposes. Stifel GMP acted as lead underwriter and sole bookrunner; insiders bought 283,327 shares.
FinancingNewcore Gold Announces C$5 Million Bought Deal Financing
A bought deal agreement with a syndicate of underwriters led by Stifel GMP will see 16,700,000 common shares sold at $0.30 per share for gross proceeds of $5,010,000. Net proceeds are intended to fund exploration and development at the Enchi Gold Project in Ghana, plus working capital and general corporate purposes. Closing is scheduled on or about July 12, 2022, subject to TSX Venture Exchange and securities regulatory approvals.
FinancingNewcore Gold Drilling Intersects 1.29 g/t Gold over 13.0 Metres and 1.64 g/t Gold over 10.0 Metres at the Enchi Gold Project, Ghana
Reverse circulation drilling at the Tokosea target on the Enchi Gold Project in Ghana returned 1.29 g/t gold over 13.0 m from 42 m plus 0.48 g/t over 32.0 m from 106 m in TORC057, 1.64 g/t over 10.0 m from 158 m in TORC081, 2.11 g/t over 7.0 m from 71 m in TORC077, and 1.34 g/t over 8.0 m from 10 m in TORC063. The release covers 26 holes totalling 3,501 m, with 20 intersecting gold mineralization, part of a 90,000 m program.
Drill resultsNewcore Gold Drilling Confirms and Expands New Discovery, Intersects 1.80 g/t Gold over 27.0 Metres and 1.67 g/t Gold over 17.0 Metres at the Enchi Gold Project, Ghana
Reverse circulation drilling at the Tokosea target on the Enchi Gold Project in Ghana returned 1.80 g/t gold over 27.0 metres from 30 m, including 4.13 g/t over 3.0 m, and 1.67 g/t gold over 17.0 metres from 131 m, including 18.17 g/t over 1.0 m. Results cover 30 holes totalling 3,889 m (TORC027–TORC056), of which 24 intersected gold mineralization, extending the drill-tested central structure to a four-kilometre strike length. Enchi hosts an Inferred Resource of 70.4 million tonnes at 0.62 g/t gold for 1.41 million ounces.
Drill results