Enchi gold project in Ghana on track
The Enchi gold project in Ghana is on track and producing more encouraging results from Newcore Gold’s drilling programme.
The company made the announcement and reported results for 42 drill holes, which totaled 4,890.5m. The programme included 28 reverse circulation holes at the Sewum gold deposit and an additional 14 diamond drilling holes at the Eradi gold target. Of the 42 holes, 39 intersected gold mineralisation.
Growth potential
The results included one hole intersecting 1.98g/t gold over 25m from 3m, and a second zone of 0.58g/t gold over 22m from 48m. A second hole drilled on a sub-parallel structure intersected 5.84g/t gold over 6m from 2m, which included 26.82g/t gold over 1m from 2m. Both used reverse circulation drilling at the southern end of the Sewum gold deposit, which intersected near surface oxidised gold mineralisation. Newcore’s president and chief executive officer Luke Alexander said the company continued to encounter high-grade gold results across the project.
“This highlights the resource growth potential at Enchi, which is situated on a prolific gold belt that hosts numerous multi-million-ounce gold mines,” he said.
The Enchi Gold Project currently hosts an Inferred Mineral Resource of 1.4 million ounces1 of gold in a district hosting several 5 million-ounce gold deposits. This 216 km2 land package covers 40 kilometers of Ghana’s prolific Bibiani Shear Zone. Newcore Gold is the sole owner of the project. On February 15, Newcore Gold traded on the TSX at C$0.47/share, which was 5% lower on the day. Its shares have plunged from a high of $0.73 in November last year.
