Newcore Gold Drilling Intersects 3.67 g/t Gold over 25.3 Metres, at the Enchi Gold Project, Ghana
Newcore’s Nyam deposit recorded its highest grade-thickness intersection to date, marking a routine step-out within a broken stock environment.
Newcore Gold Ltd. (NCAU) has released assay results from five diamond drill holes totaling 1,489 meters at the Nyam deposit within its Enchi Gold Project in Ghana. The program targeted the area below the current pit-constrained mineral reserves, with the most significant intercept coming from hole NBDD088, which returned 3.67 g/t Au over 25.3 meters starting at 307.7 meters downhole.
The company noted that this represents the highest grade-thickness zone encountered to date at Nyam, and that all five holes intersected gold grades above the 0.64 g/t reserve grade. Other notable intercepts included 1.26 g/t Au over 18.0 meters in hole NBDD091, 1.18 g/t Au over 14.0 meters in hole NBDD087, and 0.72 g/t Au over 22.4 meters in hole NBDD090.
- Hole NBDD088: 3.67 g/t Au over 25.3 m from 307.7 m downhole
- Hole NBDD091: 1.26 g/t Au over 18.0 m
- Hole NBDD087: 1.18 g/t Au over 14.0 m
- Hole NBDD090: 0.72 g/t Au over 22.4 m
True widths were not disclosed, and no compositing cutoff was stated.
Newcore Gold Ltd. (NCAU) reported drilling results that fall outside the scope of its June 2026 Preliminary Feasibility Study (PFS). The PFS economics rely on open-pit reserves extending to depths of approximately 60–220 meters. The intercept from hole NBDD088 is located below the Nyam pit and is likely too deep to support open-pit economics unless pit designs are significantly extended. These results suggest potential for an underground resource, which could enhance long-term project value, though the discovery is far from the resource definition stage.
Following the release of the PFS on June 24, the company’s stock declined from approximately $0.50 to $0.30, reflecting market disappointment with the project’s high all-in sustaining costs (AISC) and short mine life. At the explorer stage, a strong step-out result is considered routine. Without verification of true width and continuity, the finding does not qualify as a material positive event.
Newcore Gold Ltd. (NCAU) is a junior explorer and developer focused on its 100%-owned Enchi Gold Project in Ghana, which covers 248 km² along the Bibiani Shear Zone. A Preliminary Feasibility Study (PFS) released in June 2026 outlined a 9.3-year open-pit mine producing approximately 104,000 ounces per year at a lifetime all-in sustaining cost (LOM AISC) of US$2,290/oz. The study calculated an after-tax NPV5% of US$496 million at a gold price of $3,800/oz.
Total Probable Reserves stand at 1.06 million ounces (51.3 million tonnes at 0.64 g/t), with Indicated Resources of 1.50 million ounces and Inferred Resources of 0.63 million ounces. The company is currently actively drilling an 80 km program.
Newcore Gold has 312.7 million shares outstanding, with options and RSUs totaling approximately 18.6 million. The company holds a cash position of approximately C$18.8 million, while management and board ownership stands at approximately 12%.