Newcore Gold Diamond Drilling Intersects First Visible Gold, High-Grade Gold Mineralization with 147.5 g/t Gold over 1.0 Metre and 3.22 g/t Gold over 17.0 Metres, at the Enchi Gold Project, Ghana
First Visible Gold Discovered at Enchi: Diamond Drilling Confirms High-Grade Feeder Structures at Depth
On January 21, 2026, Newcore Gold announced results from its ongoing 45,000-metre drill program at the Enchi Gold Project in Ghana. The release highlights the first visible gold ever encountered on the project in diamond drill hole KBDD100, which intersected 147.5 g/t gold over 1.0 metre at a vertical depth of approximately 300 metres. This hole is located 200 metres south of a previously reported high-grade intercept (173.75 g/t Au).
Additionally, hole KBDD102 intersected 3.22 g/t gold over 17.0 metres from 327 metres downhole, confirming a high-grade mineralized shoot within fresh rock. The company also noted the appointment of SRC Swiss Resource Capital AG for investor relations services in Europe.
This news is Material - Positive. Historically, Enchi has been viewed as a shallow, low-grade, oxide, heap-leach project (indicated grade ~0.55 g/t Au). The primary critique of such projects is often limited upside if the oxide cap is depleted. * Geological Validation: The discovery of visible gold and repeating high-grade intervals (147.5 g/t following the Jan 7th 174 g/t result) strongly validates the management's thesis that Enchi hosts high-grade feeder zones at depth, similar to neighboring mines like Chirano. * Grade Improvement: The 17.0-metre interval grading 3.22 g/t Au is arguably more significant than the narrow ultra-high-grade hit, as it demonstrates mineable widths at grades significantly higher than the current resource average. * Resource Expansion: These results are from the deepest drilling to date (300m vertical), effectively opening up a new underground resource target beneath the planned open pits. * De-risking: Finding high-grade continuity helps de-risk the transition from a pure surface play to a long-life asset with underground potential.
Newcore Gold Ltd. is a Canadian-based exploration and development company focused on Ghana. * Flagship Project: The 100% owned Enchi Gold Project covers 216 km² on the Sefwi-Bibiani Belt, hosting the same geological structures as major mines like Chirano (Asante) and Bibiani. * Development Stage: The project is advancing through a Pre-Feasibility Study (PFS). The 2024 PEA outlined a low-capital ($106M initial capex), open-pit, heap-leach operation producing ~120k oz/year. * Resources: Indicated: 743,500 oz (0.55 g/t); Inferred: 972,000 oz (0.65 g/t).