Newcore Gold (TSXV: NCAU; US-OTC: NCAUF) expects to deliver a pre-feasibility study on its Enchi gold project in Ghana by this summer, as drilling starts to point to higher-grade potential below the shallow open-pit footprint, CEO Luke Alexander said.
The company is drilling 45,000-metres aimed first at upgrading inferred ounces and then stepping out to test deeper “feeder” structures and earlier-stage targets. Newcore’s latest results include the first reported visible gold, with more assays due as metallurgical testing progresses.
“Every additional percent of recovery can have a meaningful impact,” Alexander told The Northern Miner’s Western Editor, Henry Lazenby, at a recent industry conference.
The company is weighing whether adding a carbon-in-leach circuit could lift recoveries above the level assumed in its April 2025 preliminary economic assessment. The study outlined an open-pit, heap-leach plan with after-tax net present value of $371 million (C$595.5 million) at a $1,850-per-oz. gold and requiring initial capital of $106 million.
Watch the full interview below:
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