Newcore Gold’s (TSX-V: NCAU; US-OTC: NCAUF) latest results at its Enchi project in southwestern Ghana have returned results as high as 6 metres grading 3.98 grams gold per tonne.
That intercept in the Sewum deposit, from 2 metres depth in hole SWRC269 of the Ridge zone, included 1 metre at 22.62 grams gold from 7 metres depth, the company reported Wednesday. Another highlight, hole SWRC258, cut 33 metres grading 0.89 gram gold from 1 metre depth.
“We emphasize the shallow nature of mineralization at Sewum, as today’s headline assays begin just 1 metres below surface, as the regional geology remains highly accommodating for the extension of mineralization well below the currently defined threshold,” Haywood Capital Markets analyst Marcus Giannini said in a note.
The results continue to confirm the continuity of mineralization at Sewum, the largest deposit on the Enchi project, Newcore President and CEO Luke Alexander said in a release.
“The drilling…targeted shallow mineralization in the oxide and transition horizon, within a maximum vertical depth of 120 metres, which is amenable to open pit mining and heap leach processing.”
The intercepts at Sewum follow similarly strong results reported in May in the adjacent Boin deposit at Enchi, where Newcore is conducting a 35,000-metre drill program aimed at converting inferred resources to indicated. The first stage of drilling is to precede a pre-feasibility study planned for next year.
Shallow mineralization
Other noteworthy intercepts in the Ridge zone included 30 metres grading 0.61 gram gold from 2 metres depth in hole SWRC247; 40 metres at 0.51 gram gold from 2 metres depth in hole SWRC259; and 41 metres grading 0.51 gram gold from 27 metres depth in hole SWRC260, including 6 metres grading 1.66 grams.
Sewum is the largest among five deposits that make up Enchi, all of which are open along strike and to depth.
Sewum hosts 20.9 million indicated tonnes grading 0.48 gram gold for 323,300 oz., and 21.8 million inferred tonnes at 0.53 gram gold for 373,100 contained ounces, according to a preliminary economic assessment for Enchi released last year.
Newcore has drilled 24,127 metres across 200 holes so far in the 2024-2025 program at Enchi, with almost all hitting gold mineralization, the company said.
Company shares fell 3.1% to 62¢ apiece on Wednesday morning in Toronto, giving it a market capitalization of $159.9 million. Its stock has traded in a 12-month range of 27¢ to 73¢.
Be the first to comment on "Newcore logs shallow, high-grade hits in Ghana"