Newcore Gold Announces Filing of Technical Report for The Enchi Gold Project
NEWS RELEASE
Suite 413 - 595 Burrard Street, P.O. 49167 www.newcoregold.com
Vancouver, British Columbia V7X 1J1 [email protected]
Newcore Gold Announces Filing of Technical Report
for The Enchi Gold Project
October 9, 2020 TSX-V: NCAU
Vancouver, BC – Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU) has
filed an independent National Instrument 43-101 ("NI 43-101") technical report for the updated
2020 mineral resource estimate relating to the Company’s 100% owned Enchi Gold Project in
southwestern Ghana, the results of which were announced on September 14, 2020 . The
technical report, titled "Enchi Gold Project, Resource Update, Enchi, Ghana " has an effective
date of September 11, 2020 and is available under Newcore’s profile on www.sedar.com.
Qualified Person
Mr. Gregory Smith, P.Geo, Vice President of Exploration of Newcore, is a Qualified Person as
defined by NI 43 -101, and has reviewed and approved the technical data and information
contained in this news release.
About Newcore Gold Corp.
Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold
producer 1. The Project currently hosts an Inferred Mineral Resource of 1.2 million ounces of
gold at 0.72 g/t 2. Newcore Gold offers investors a unique combination of top-tier leadership,
who are aligned with shareholders through their 39% ownership, and prime district scale
exploration opportunities. Enchi’s 216 km2 land package covers 40 kilometres of Ghana’s
prolific Bibiani Shear Zone, a gold belt which hosts several 5 million -ounce gold deposits,
including Kinross’ Chirano mine 50 kilometers to t he north. Newcore’s vision is to build a
responsive, creative and powerful gold enterprise that maximizes returns for shareholders.
On Behalf of the Board of Directors of Newcore Gold Ltd.
Luke Alexander
President, CEO & Director
For further information, please contact:
Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
www.newcoregold.com
1 Source: Production volumes for 2019 as sourced from the World Gold Council
2 Notes for Inferred Mineral Resource Estimate:
1. CIM definition standards were followed for the resource estimate.
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2. The 2020 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model
with mineralized zones defined by wireframed solids and constrained by whittle pits shell.
3. A base cut-off grade of 0.3 g/t Au was used with a capping of gold grades at 18 g/t.
4. A US$1,500/ounce gold price, open pit with heap leach operation was used to determine the cut-off grade of
0.3 g/t Au. Mining costs of US$2.27/mined tonne and G&A and Milling costs of US$9.84/milled tonne. The
Inferred Mineral Resource Estimate is pit constrained.
5. A density of 2.45 g/cm3 was applied. Numbers may not add due to rounding.
6. Mineral Resources that are not mineral reserves do not have economic viability.
7. These numbers are from the independent technical report titled "Enchi Gold Project, Resource Update, Enchi,
Ghana", with an effective date of September 11, 2020, prepared by Todd McCracken, P. Geo. in accordance
with National Instrument 43 -101 Standards of Disclosure for Mineral Project and is available un der Newcore’s
SEDAR profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain forward -looking statements, Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words or phrases such as "expects" or does
not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating
that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be
achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking
statements are subject to a variety of risks and uncertainties which could cause actual events or results to
materially differ from those reflected in the forward-looking statements.
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except
for the statements of historical fact contained herein, the information presented constitutes "forward -
looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements including but not limited to those with respect to the price of gold, potential
mineralization, reserve and resource determination, exploration results, and future plans and objectives
of the Company involve known and unknown risks, uncertainties and other factors wh ich may cause the
actual results, performance or achievement of the Company to be materially different from any future
results, performance or achievements expressed or implied by such forward -looking statements. There
can be no assurance that such stateme nts will prove to be accurate as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.