Newcore Gold Drilling Intersects 0.73 g/t Gold over 68.0 Metres and 1.39 g/t Gold over 24.0 metres at the Enchi Gold Project, Ghana
NEWS RELEASE
Suite 1560 - 200 Burrard Street www.newcoregold.com
Vancouver, British Columbia V6C 3L6 [email protected]
Newcore Gold Drilling Intersects 0.73 g/t Gold over 68.0 Metres and
1.39 g/t Gold over 24.0 metres at the Enchi Gold Project, Ghana
April 1, 2025 TSX-V: NCAU, OTCQX: NCAUF
Vancouver, BC – Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU,
OTCQX: NCAUF) is pleased to announce additional drill results from the 35,000 -metre drill
program underway at the Company’s 100% owned Enchi Gold Project ("Enchi" or the "Project")
in Ghana. Shallow Reverse Circulation ("RC") drilling at the Sewum Gold Deposit ( "Sewum")
intersected multiple zones of gold mineralization, with hole SWRC213 intersecting 0.73 grams
per tonne gold ("g/t Au") over 68.0 metres ("m") from 62 m, hole SWRC223 intersecting
0.74 g/t Au over 49 m from 18 m, and hole SWRC208 intersecting 1.39 g/t Au over 24.0 m from
22 m including a higher-grade interval of 6.56 g/t over 4.0 m from 26 m. Drilling continues to
prove out the continuity of gold mineralization and potential for resource growth at Enchi.
The 35,000-metre drill program underway at Enchi is focused on resource growth and infill
drilling designed to convert Inferred Resources to Indicated. The goal of the first phase of
drilling is completion of drilling required for resource conversion in advance of commissioning
a Pre -Feasibility Study later this year. The second phase of the drill program will focus on
discovery and resource growth , including drilling targeting earlier-stage exploration targets
along with drilling focused on defining the resource growth potential at depth.
Highlights from Drilling at the Sewum Gold Deposit at Enchi
• Drilling at the Checkerboard Hill area encountered multiple wide zones of gold
mineralization near-surface within both the oxide and upper sulphide horizon.
o SWRC213 intersected two gold mineralized structures : 0.70 g/t Au over 20.0 m from
12 m in the oxide zone, and a second interval of 0.73 g/t Au over 68.0 m from 62 m in
the transition/upper sulphide zone.
o SWRC208 intersected multiple gold mineralized structures in the oxide zone including
0.57 g/t Au over 17.0 m from surface, with a second interval of 1.39 g/t Au over 24.0 m
from 22 m with a higher-grade interval of 6.56 g/t Au over 4.0 m from 26 m.
• Drilling at the Sewum Extension area intersected wide zones of gold mineralization
near surface, with higher-grade intervals.
o SWRC223 intersected 0.74 g/t Au over 49.0 m from 18 m , including a higher -grade
interval of 1.57 g/t over 11.0 m from 42.0 m in the oxide/transition horizon.
o SWRC222 intersected 0.59 g/t Au over 38.0 m from surface, including a higher-grade
interval of 1.94 g/t over 7.0 m from 4.0 m in the oxide horizon.
• Drilling completed at the Extension Parallel Structure area continues to highlight the
potential for resource growth at Enchi.
o SWRC224 intersected 1.24 g/t Au over 20.0 m from 69 m within the oxide/transition
material, outside the limits of the pit that constrains the Mineral Resource Estimate.
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Luke Alexander, President and CEO of Newcore stated, " The 35,000-metre drill program
underway at Enchi continues to deliver strong results . These results from Sewum, the largest
deposit currently defined at Enchi, highlight both the positive continuity of near -surface
mineralization as well as the strong potential for future resource growth across the Project. We
are thrilled to be fully funded to continue to deliver value through the drill bit , with drilling
focused on resource growth and conversion, and high-priority exploration targets, while
concurrently continuing to advance the development of the Project with commissioning of a
Pre-Feasibility Study later this year."
This release reports results for 21 RC holes totalling 2,546 m (SWRC204 to SWRC224) targeting
the Sewum Gold Deposit, with all holes intersecting gold mineralization. A total of 13,178 m in
108 holes have been reported as part of the ongoing 2024 - 2025 drill program at Enchi.
Select assay results from the 21 holes of the drill program reported in this release are below:
Table 1 - Enchi Gold Project Drill Highlights
Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)
SWRC213 Sewum 12.0 32.0 20.0 0.70
and 62.0 130.0 68.0 0.73
SWRC223 Sewum 18.0 67.0 49.0 0.74
including 42.0 53.0 11.0 1.57
SWRC208 Sewum 22.0 46.0 24.0 1.39
including 26.0 30.0 4.0 6.56
SWRC212 Sewum 0.0 81.0 81.0 0.40
SWRC217 Sewum 19.0 34.0 15.0 1.24
and 90.0 120.0 30.0 1.00
SWRC224 Sewum 69.0 89.0 20.0 1.24
SWRC222 Sewum 0.0 38.0 38.0 0.59
including 4.0 11.0 7.0 1.94
Notes:
1. See detailed table for complete results;
2. Intervals reported are hole lengths with true width estimated to be 75 - 85%; and
3. Length-weighted averages from uncut assays.
A plan map showing the drill hole locations can be viewed at:
https://newcoregold.com/site/assets/files/5904/2025_04_01-ncau-nr-enchi-plan-map-sewum.pdf
Cross sections showing drill results and highlights for holes SWRC208, SWRC211, SWRC212,
SWRC213, SWRC222, SWRC223, and SWRC224 can be viewed at:
https://newcoregold.com/site/assets/files/5904/2025_04_01-ncau-crosssections-sewum.pdf
A complete list of the drill results in this release, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5904/2025_04_01-ncau-enchi-2024-2025-drill-results.pdf
Drilling at the Sewum Gold Deposit
SWRC204 to SWRC224 (21 RC holes totalling 2,546 m) were completed at Sewum , targeting
the Checkerboard Hill and Sewum Extension areas of the deposit. Drilling targeted near-
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surface oxidized, transition as well as shallow sulphide mineralization with a goal of infill drilling
for resource conversion to improve the confidence level as well as grow the existing Mineral
Resource Estimate. RC drilling at Sewum consisted of 50-metre spaced sections with drill holes
spaced every 25 metres along the sections. The holes reported in this news release are
distributed across 10 separate sections that are spread along a strike length of 2.2 kilometres.
14 RC holes totalling 1,946 m (SWRC204 to SWRC217) tested the Ch eckerboard Hill area.
Drilling in this area focused on resource conversion with positive results. SWRC213 drilled in
the central portion of the zone intersected two gold mineralized structures : 0.70 g/t Au over
20.0 m from 12 m in the oxide zone, and a second interval of 0.73 g/t Au over 68.0 m from
62 m in the transition/upper sulphide zone. Along the same section, with drill spacing of 25
metres along the section, SWRC212 intersected 0.40 g/ t Au over 81.0 m from surface .
SWRC208 drilled 100 metres north intersected multiple gold mineralized structures in the
oxide zone including 0.57 g/t Au over 17.0 m from surface, with a second interval of 1.39 g/t
Au over 24.0 m from 22 m with a higher-grade interval of 6.56 g/t Au over 4.0 m from 26 m .
Hole SWRC217, drilled 25 metres north of SWRC208, intersected 1.24 g/t Au over 15.0 m from
19 m in the oxide horizon with a second intercept of 1.00 g/t Au over 30.0 m from 90 m in the
upper sulphide horizon.
6 RC holes totalling 447 m (SWRC218 to SWRC 223) tested the Sewum Extension area. Drilling
in this area focused on resource conversion with strong results. SWRC223 intersected 0.74 g/t
Au over 49.0 m from 18 m , including a higher-grade interval of 1.57 g/t over 11.0 m from
42.0 m in the oxide/transition horizon. Along the same section, with drill spacing of 25 metres
along the section, SWRC222 intersected 0.59 g/t Au over 38.0 m from surface, including a
higher-grade interval of 1.94 g/t over 7.0 m from 4.0 m in the oxide horizon.
1 RC hole totalling 153 m (SWRC224) tested the Sewum Extension Parallel Structure, testing
the down-dip continuity of the mineralization near the central portion of the zone. SWRC224
intersected 1.24 g/t Au over 20.0 m from 69 m within the oxide/transition material, outside the
limits of the pit that constrains the Mineral Resource Estimate. The results from this step -out
drill hole continue to highlight the potential for future resource growth at Enchi.
These drill results continue to confirm continuity along strike and down dip for the principal
structures which comprise the Sewum Gold Deposit. The width and gold grades within these
drill results are also consistent with prior wider-spaced drilling completed at Sewum.
The drill results released to date from the 2024 - 2025 drill program are from the Boin and
Sewum deposits where drilling was designed to improve the confidence level of the existing
Mineral Resource Estimate. This recent drilling was drilled in area s where the previous pit
constrained Mineral Resource Estimate was classified as Inferred. The Company anticipates
that the results of this recent drilling should allow for the conversion of a substantial portion of
mineralization within these areas to the Indicated category.
2024 - 2025 Enchi Work Program
A 35,000-metre drill program is underway at Enchi, targeting near -surface oxide and shallow
sulphide mineralization with a primary goal of infill drilling for resource conversion to improve
the confidence level of the existing Mineral Resource Estimate. Mo st of the infill drilling is
allocated to the two largest deposits at Enchi, Boin and Sewum. Improving the confidence level
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of the Mineral Resource Estimate at Enchi is a key component of the development work
required to be completed in advance of commissioning a Pre-Feasibility Study for the Project.
A subset of the drill program will also focus on outlining resource growth, with all deposit areas
and pre -resource targets at Enchi remaining open along strike and at depth, providing for
future resource growth across the district-scale property.
Additional exploration and development work is on -going at Enchi, including metallurgical
testwork, trenching, hydrogeological testing, geotechnical work, environmental work and soil
sampling. Drone topographic surveys have been completed , expanding on previously
completed work, at the Kwakyekrom and Tokosea deposit areas to provide detailed
topographic information required to improve the confidence level of each deposit’s Mineral
Resource Estimate. Additionally, the drone survey was completed across the proposed heap
leach facility area to contribute additional data for future detailed engineering studies. An
airborne magnetic survey tested grass roots targets related to a series of gold-in-soil anomalies
and gold mineralization identified in trenching. Soil sampling is also currently being completed
on the Omanpe and Abotia licenses with a goal of further defining early -stage targets across
Enchi for future trenching and drilling.
Sewum Gold Zone
Sewum is one of the five deposits which comprise the Mineral Resource Estimate at Enchi
(Sewum has an Indicated Mineral Resource of 20.9 million tonnes grading 0.48 g/t Au
containing 323,300 ounces and Inferred Mineral Resource of 21.8 million tonnes gradi ng
0.53 g/t Au containing 373,100 ounces). Sewum is located 15 kilometres south of the town of
Enchi, with nearby roads and power and further access provided by a series of drill roads.
Sewum is outlined on surface by a greater than six -kilometre-long and one to two-kilometre-
wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Sewum Gold
Deposit defines a series of sub parallel and intersecting structures. To date, approximately 50%
of the gold-in-soil anomaly at Sewum is untested by drilling, with the average vertical depth of
all holes drilled to date at Sewum only down to 75 metres.
Drill Hole Locations
Table 2 - Enchi Gold Project Drill Hole Location Details
Hole ID UTM East UTM North Elevation Azimuth ° Dip ° Length (m)
SWRC204 521330 627665 167 120 -55 132
SWRC205 521297 627683 173 120 -55 168
SWRC206 521365 627644 166 120 -55 120
SWRC207 521412 627878 138 120 -55 84
SWRC208 521365 627824 148 120 -55 98
SWRC209 521412 627851 139 120 -55 62
SWRC210 521254 627701 174 120 -55 204
SWRC211 521385 627701 174 120 -55 126
SWRC212 521285 627757 172 120 -55 221
SWRC213 521325 627734 173 120 -55 132
SWRC214 521262 627906 150 120 -55 177
SWRC215 521312 627885 153 120 -55 182
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Hole ID UTM East UTM North Elevation Azimuth ° Dip ° Length (m)
SWRC216 521391 627817 100 120 -55 120
SWRC217 521376 627840 141 120 -55 120
SWRC218 519995 625747 137 120 -55 70
SWRC219 520013 625771 139 120 -55 62
SWRC220 520061 625801 140 120 -55 60
SWRC221 520043 625823 134 120 -55 95
SWRC222 520456 626210 154 120 -55 60
SWRC223 520431 626220 147 120 -55 100
SWRC224 520673 626116 154 120 -55 153
Enchi Gold Project Mineral Resource Estimate
The Enchi Gold Project hosts an Indicated Mineral Resource of 41.7 million tonnes grading
0.55 g/t Au containing 743,500 ounces gold and an Inferred Mineral Resource of 46.6 million
tonnes grading 0.65 g/t Au containing 972,000 ounces (see Newcore news release date d
March 7, 2023). Mineral resource estimation practices are in accordance with CIM Estimation
of Mineral Resource and Mineral Reserve Best Practice Guidelines (November 29, 2019) and
follow CIM Definition Standards for Mineral Resources and Mineral Reserves (May 10, 2014),
that are incorporated by reference into National Instrument 43-101 ("NI 43-101"). The Mineral
Resource Estimate is from the technical report titled "Mineral Resource Estimate for the Enchi
Gold Project" with an effective date of January 25, 2023, which was prepared for Newcore by
Todd McCracken, P. Geo, of BBA E&C Inc. and Simon Meadows Smith, P. Geo, of SEMS
Exploration Services Ltd. in accordance with NI 43-101 - Standards of Disclosure for Mineral
Projects, and is available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Todd
McCracken and Simon Meadows Smith are independent qualified persons ("QP") as defined
by NI 43-101.
Newcore Gold Best Practice
Newcore is committed to best practice standards for all exploration, sampling and drilling
activities. Drilling was completed by an independent drilling firm using industry standard RC
and Diamond Drill equipment. Analytical quality assurance and quality control procedures
include the systematic insertion of blanks, standards and duplic ates into the sample strings.
Samples are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa,
Ghana for 50 gram gold fire assay.
Qualified Person
Mr. Gregory Smith, P. Geo, Vice President of Exploration at 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. Mr. Smith has verified the technical and scientific data disclosed
herein and has conducted appropriate verification on the underlying data including
confirmation of the drillhole data files against the original drillhole logs and assay certificates.
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About Newcore Gold Ltd.
Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold
producer (1). Newcore Gold offers investors a unique combination of top -tier leadership, who
are aligned with shareholders through their 15% equity ownership, and prime district scale
exploration opportunities. Enchi’s 248 km 2 land package covers 40 kilometres of Ghana’s
prolific Bibiani Shear Zone, a gold belt which hosts several multi-million-ounce gold deposits,
including the Chirano mine 50 kilomet res to the north. Newcore’s vision is to build a
responsive, creative and powerful gold enterprise that maximizes returns for shareholders.
(1) Source: Production volumes for 2023 as sourced from the World Gold Council.
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
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 includes statements that contain "forward -looking information" within the meaning of
the applicable Canadian securities legislation ("forward -looking statements"). All statements, other than
statements of historical fact, are forward -looking statements and are based on expectations, estimates
and projections as at the date of this news release. Any statement that involves discussion with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions, future even ts or
performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including
negative variations) of such words and phras es, or state 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. In this news release, forward -looking statements relate, among
other things, to: statements about the estimation of mineral resources; results of preliminary economic
assessments; completion of a pre-feasibility study; results of metallurgical testwork; results of our ongoing
drill campaign; results of drilling, magnitude or quality of mineral deposits; anticipated advancement of
mineral properties or programs; and future exploration prospects.
These forward-looking statements, and any assumptions upon which they are based, are made in good
faith and reflect our current judgment regarding the direction of our business. The assumptions
underlying the forward -looking statements are based on informa tion currently available to Newcore.
Although the forward -looking statements contained in this news release are based upon what
management of Newcore believes, or believed at the time, to be reasonable assumptions, Newcore
cannot assure its shareholders that actual results will be consistent with such forward-looking statements,
as there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-
looking information also involves known and unknown risks, uncertainties an d other factors which may
cause the actual results, performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by the forward -looking
information. Such factors include, am ong others: risks related to the speculative nature of Newcore’s
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business; Newcore’s formative stage of development; Newcore’s financial position; possible variations in
mineralization, grade or recovery rates; actual results of current exploration activities; fluctuations in
general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward
prices of gold and other commodities; fluctuations in c urrency markets (such as the Canadian dollar to
United States dollar exchange rate); change in national and local government, legislation, tax ation,
controls, regulations and political or economic developments; risks and hazards associated with the
business of mineral exploration, development and mining (including environmental hazards, unusual or
unexpected geological formations); the presence of laws and regulations that may impose restrictions on
mining; employee relations; relationships with and claims by local communities; the speculative nature
of mineral exploration and development (including the risks of obtaining necessary licenses, permits and
approvals from government authorities); and title to properties.
Forward-looking statements contained herein are made as of the date of this news release and Newcore
disclaims any obligation to update any forward -looking statements, whether as a result of new
information, future events or results, except as may be required by applicable securities laws. There can
be no assurance that forward -looking information will pr ove 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 information.
500 m
Previous Drill Holes
Legend
Drill Hole
Prior 2024 - 2025 Assays Not in
Mineral Resource Estimate
Drill Hole
Assays Announced
April 1, 2025
2024 - 2025 Drill Program | Enchi Gold Project
Sewum, Ghana (As of April 2025)
SEWUM
EXTENSION
RIDGE
ZONE
Map Area
Pit Shell
Outline
SWRC218
SWRC219 SWRC220
SWRC221
SWRC222
SWRC204
SWRC205
SWRC202
SWRC201
SWRC200
SWRC199
SWRC196
SWRC197SWRC198
SWRC171
SWRC172
SWRC174
SWRC173
SWRC180
SWRC193
SWRC177
SWRC176
SWRC175
SWRC178
SWRC179
SWRC224
SWRC223
EXTENSION
PARALLEL
STRUCTURE
CHECKERBOARD
HILLSWRC210
SWRC214
SWRC215
SWRC207
SWRC209
SWRC216
SWRC217
SWRC195
SWRC194
SWRC206
SWRC211
SWRC212
SWRC213
SWRC208