Northwire Canada EditionTuesday, July 28, 2026
Sign inSubscribe
Northwire
⌕
BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0% SCD 0.170 +1.5% SRC 1.75 −2.8% FOXT 0.155 +0.0% TG 0.180 −2.7% NOBL 0.100 −4.8% MGG 0.300 +0.0% HMR 0.540 +0.0% NRC 0.960 −4.0% SIG 0.920 +0.0% LMR 0.120 +60.0% BHS 0.045 −10.0% EGR 0.025 +0.0% RIO 2.59 −4.1% GEN 0.070 +0.0% MAI 4.39 −2.0% RYR 0.175 +0.0% SCD 0.170 +1.5% SRC 1.75 −2.8% FOXT 0.155 +0.0% TG 0.180 −2.7% NOBL 0.100 −4.8% MGG 0.300 +0.0% HMR 0.540 +0.0% NRC 0.960 −4.0% SIG 0.920 +0.0% LMR 0.120 +60.0%
Resource Estimate Material +

Newcore Gold Announces Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana

Newcore doubles indicated resource as Enchi transitions from heap leach to high-recovery milling

By The Northwire Desk — AI Analysis Mar 18, 2026 · 06:00 NCAU · 0.63 Newcore Gold Ltd.
Executive Summary

The most recent news (March 18, 2026) announces a significant Mineral Resource Estimate (MRE) update for the Enchi Gold Project. Key highlights include: - Indicated Mineral Resource more than doubled to 1,502,000 ounces of gold (83.6 million tonnes at 0.56 g/t Au). - Inferred Mineral Resource stands at 626,000 ounces of gold (40.1 million tonnes at 0.49 g/t Au). - The resource is pit-constrained across four deposits (Sewum, Boin, Nyam, Kwakyekrom), all of which remain open along strike and at depth. - This update incorporates results from a massive 60,000-meter drill program and serves as the foundation for the upcoming Pre-Feasibility Study (PFS).

Material Impact

The news is Material - Positive for several reasons: - De-risking through Conversion: Doubling the Indicated category significantly increases the geological confidence required for the upcoming PFS. This is a critical step for project financing and development. - Strategic Pivot: Previous studies (2024 PEA) focused on a low-grade heap leach model. Recent metallurgical tests (Feb 2025) and this MRE update support a shift to a standard milling/CIL flowsheet with much higher recoveries (89.4% to 97.7%), which captures more value in a high gold price environment. - Scale: Crossing the 1.5-million-ounce Indicated threshold establishes Enchi as a project of significant scale in the Sefwi-Bibiani belt, home to major mines like Ahafo and Chirano. - Funding: The company successfully leveraged warrant exercises to raise over C$14M in late 2025 and early 2026, ensuring the 60,000m drill program and PFS are fully funded without immediate dilutive equity raises.

NCAU · Price
Company Overview

Newcore Gold is focused on the 100%-owned Enchi Gold Project in Ghana. The project covers 216 km² along the Sefwi-Bibiani gold belt. Historically viewed as a near-surface, oxide-hosted heap leach project, recent exploration has identified high-grade "shoots" (e.g., 147.5 g/t Au over 1.0m) and visible gold at depth, prompting a shift toward a larger-scale milling operation.

Read the original news release →

More from Newcore Gold Ltd.

Jun 30, 2026 · 06:02

Newcore’s high-grade Nyam drill results failed to halt the Enchi selloff following a PFS revealing a $351m capex requirement.

Drill Results Jun 24, 2026 · 06:02

Newcore Gold’s Enchi PFS confirms robust economics despite structural headwinds as the company faces development capital requirements looming over the project.

Technical Study Jun 16, 2026 · 06:02

Newcore Gold advances drilling at its Enchi project as the pre-feasibility study deadline approaches and shares consolidate near multi-month lows.

Drill Results Jun 02, 2026 · 06:02

Newcore Gold Increases Drill Program to 80,000 Metres at the Enchi Gold Project, Ghana

Drill Results May 28, 2026 · 08:25

Newcore Gold Closes Financing to Fuel PFS Push Amidst Dilution Concerns

Financings May 14, 2026 · 16:15

Newcore Gold Secures Funding for Enchi PFS Amidst Dilution and Optimistic Price Assumptions

Financings