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
Newcore Gold's Enchi Project maintains development trajectory as drill results affirm continuity, setting stage for key 2026 milestones.
On December 16, 2025, Newcore Gold Ltd. announced further drill results from its 45,000-metre drill program at the Enchi Gold Project in Ghana. Key intercepts at the Boin Gold Deposit include 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. The company reported that 29,490 metres across 237 holes have been completed to date in the program, with 98.7% of holes intersecting gold mineralization.
The news release indicated that the first phase of Reverse Circulation (RC) drilling, focused on resource conversion, is now complete. Technical work for the Pre-Feasibility Study (PFS) is being finalized, with commissioning targeted for early 2026 and completion by the end of H1 2026. This timeline remains on track. Concurrently, the drill program has transitioned to a second phase, utilizing diamond drilling to target high-grade potential at depth for exploration and resource growth. The initial results from this deeper drilling are anticipated in early 2026.
The latest drill results from the Boin Gold Deposit are positive, demonstrating continued gold mineralization within the Enchi project. The grades reported (e.g., 0.78 g/t over 16m) are generally consistent with the project's overall indicated resource grade of 0.55 g/t Au (from the Preliminary Economic Assessment - PEA), contributing positively to resource continuity and potential conversion. However, these specific intercepts do not represent a significant jump in grade or scale compared to some previously reported high-grade but narrow intersections (e.g., 184 g/t Au over 1.0m reported on 2025-09-04).
The news confirms the completion of the first phase of RC drilling and, more importantly, reiterates that the Pre-Feasibility Study (PFS) remains on track for commissioning in early 2026 and completion by H1 2026. This consistency with previously stated timelines (e.g., commissioning Q4 2025/later this year, completion 2026 in news from October 2025, May 2025, July 2025, September 2025) provides some predictability and reduces uncertainty regarding the project's advancement schedule. This adherence to schedule is a routine positive for a development-stage company.
The transition to diamond drilling for deeper, high-grade targets is a crucial, anticipated step in defining the project's long-term potential. Management has consistently highlighted the potential for deeper, higher-grade mineralization as a key value driver. The market will now await the results from this second phase of drilling, expected in early 2026, as a more significant catalyst for potential re-rating based on higher-grade resource expansion.
Overall, this release is an incremental positive update. It confirms operational execution and adherence to the development roadmap but does not present new information that would fundamentally alter the investment thesis beyond current expectations.
Newcore Gold Ltd. is a Canadian gold exploration and development company. Its core asset is the 100%-owned Enchi Gold Project in Ghana, West Africa, located within the prospective Sefwi-Bibiani gold belt. The project is strategically positioned in a region known for multi-million-ounce gold deposits.
The Enchi project, as outlined in its Preliminary Economic Assessment (PEA, effective April 24, 2024), envisions a low-capital, open-pit, heap-leach operation. Key metrics from the PEA (at a base case gold price of US$1,850/oz) include: - Indicated Mineral Resource: 41.7 million tonnes grading 0.55 g/t Au, containing 743,500 ounces of gold. - Inferred Mineral Resource: 46.6 million tonnes grading 0.65 g/t Au, containing 972,000 ounces of gold. - Underground Inferred Mineral Resource: 1.7 million tonnes grading 2.42 g/t Au, containing 135,900 ounces of gold. - Life-of-Mine (LOM) Production: 1.1 million ounces over 9 years. - Average Annual Production: 121,839 ounces of gold per year. - Initial Capital Expenditure: US$106 million. - All-in Sustaining Costs (AISC): US$1,018 per ounce of gold (LOM average).
Newcore Gold is currently executing a 45,000-metre drill program focused on resource growth, infill drilling to convert Inferred Resources to Indicated, and exploring deeper, higher-grade targets to unlock the district-scale potential of the property. The company is advancing the project towards a Pre-Feasibility Study (PFS) expected in H1 2026.