Newcore Gold Drilling Intersects 2.50 g/t Gold over 15.0 Metres and 3.00 g/t Gold over 10.0 metres at the Enchi Gold Project, Ghana Drilling Intersects Multiple Zones of Gold Mineralization at the Nyam Gold Deposit and the Pre-Resource Stage Kojina Hill Gold Target
NEWS RELEASE
Suite 1560 - 200 Burrard Street www.newcoregold.com
Vancouver, British Columbia V6C 3L6 [email protected]
Newcore Gold Drilling Intersects 2.50 g/t Gold over 15.0 Metres and
3.00 g/t Gold over 10.0 metres at the Enchi Gold Project, Ghana
Drilling Intersects Multiple Zones of Gold Mineralization at the Nyam Gold Deposit
and the Pre-Resource Stage Kojina Hill Gold Target
April 22, 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 Nyam Gold Deposit ( "Nyam")
intersected multiple zones of higher-grade gold mineralization with hole NBRC108
intersecting 2.50 grams per tonne gold ("g/t Au") over 15.0 metres ("m") from 45 m and hole
NBRC110 intersecting 3.00 g/t Au over 10.0 m from 104 m. RC drilling at the Kojina Hill Gold
Target ( "Kojina Hill"), a previously drilled target at Enchi with no defined mineral resource,
intersected multiple zones of gold mineralization including hole KJRC026 which intersected
0.67 g/t Au over 37.0 m from 69 m including a higher -grade interval of 1.05 g/t over 20.0 m
from 70 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 Nyam Gold Deposit and Kojina Hill Gold Target at Enchi
• Drilling at Nyam encountered higher-grade gold mineralization in the upper sulphide
horizon.
o NBRC108 intersected 2.50 g/t Au over 15.0 m from 45 m.
o NBRC110 intersected 3.00 g/t Au over 10.0 m from 104 m.
o NBRC114 intersected 1.68 g/t Au over 12.0 m from 78 m.
• Drilling at the earlier stage Kojina Hill Target continues to prove out the potential for
resource growth at Enchi through the addition of new resource areas on the property.
o Kojina Hill is an advanced target at Enchi that has no defined mineral resource.
o KJRC026 intersected 0.67 g/t Au over 37.0 m from 69 m, including a higher -grade
interval of 1.05 g/t over 20.0 m from 70 m.
o KJRC031 intersected higher-grade mineralization near surface with 6.80 g/t Au over
2.0 m from 5 m.
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Greg Smith, Vice President of Exploration of Newcore stated, " Drilling at Enchi continues to
prove out the growth potential across the project, with all drilling reported in this release
encountering gold mineralization. Drilling completed at Nyam, the third largest deposit
currently defined at Enchi, continues to encounter higher-grade gold mineralization within the
shallow sulphide horizon. Additional drilling completed at the earlier stage Kojina Hill Gold
target, an area that does not yet have a mineral resource estimate, highlights the potential for
future resource growth at Enchi from additional earlier-stage targets where drilling continues
to encounter shallow gold mineralization. We are excited to continue to prove out the potential
at Enchi through the drill bit, with all deposits remaining open along strike and at depth , and
numerous earlier-stage targets yet to be defined."
This release reports results for 13 RC holes totalling 1,415 m (NBRC108 to NBRC120) targeting
the Nyam Gold Deposit and 7 RC holes totalling 944 m (KJRC025 to KJRC031 ) targeting the
Kojina Hill Gold Target , with all holes intersecting gold mineralization. A total of 1 5,537 m in
128 holes have been reported as part of the ongoing 2024 - 2025 drill program at Enchi.
Select assay results from the 20 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)
NBRC108 Nyam 45.0 60.0 15.0 2.50
NBRC110 Nyam 104.0 114.0 10.0 3.00
NBRC114 Nyam 78.0 90.0 12.0 1.68
NBRC119 Nyam 2.0 8.0 6.0 0.96
and 45.0 53.0 8.0 2.36
KJRC026 Kojina Hill 69.0 106.0 37.0 0.67
including 70.0 90.0 20.0 1.05
KJRC031 Kojina Hill 5.0 7.0 2.0 6.80
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.
Plan maps showing the drill hole locations can be viewed at:
https://newcoregold.com/site/assets/files/5908/2025_04_22-ncau-nr-enchi-plan-maps.pdf
Cross sections showing drill results and highlights for holes NBRC108, NBRC109 and KJRC026
can be viewed at:
https://newcoregold.com/site/assets/files/5908/2025_04_22-ncau-crosssections-nyam-kojinahill.pdf
A complete list of the drill results in this release, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5908/2025_04_22-ncau-enchi-2024-2025-drill-results.pdf
Drilling at the Nyam Gold Deposit
NBRC108 to NBRC120 (13 RC holes totalling 1,415 m) were completed at Nyam, targeting the
south, central and northern portions of the deposit . Drilling targeted near-surface oxidized,
transition as well as shallow sulphide mineralization with a goal of infill drilling for resource
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conversion to improve the confidence level as well as grow the existing Mineral Resource
Estimate. RC drilling at Nyam 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 1.2 kilometres.
6 RC holes totalling 681 m (NBRC108 to NBRC111, NBRC119, NBRC120) were drilled on the
southern portion of the structure at Nyam. NBRC108 intersected 2.50 g/t Au over 15.0 m from
45 m in the upper sulphide horizon. NBRC110, located 100 metres to the north, intersected
3.00 g/t Au over 10.0 m from 104 m and 0.50 g/t Au over 18.0 m from 126 m. NBRC119, located
50 metres to the south of NBRC108, intersected 2.36 g/t Au over 8.0 m from 45 m in the
sulphide mineralization, as well as 0.96 g/t Au over 6.0 m from 2 m and 0.32 g/t Au over 7.0 m
from 12 m in the oxide mineralization.
3 RC holes totalling 284 m (NBRC112 to NBRC114) tested the central portion of the structure
at Nyam. These holes were drilled 800 metres to the north of NBRC110. NBRC114 intersected
1.68 g/t Au over 12.0 m from 78 m in the upper sulphide mineralization.
4 RC holes totalling 450 m (NBRC115 to NBRC118) were drilled on the northern portion of the
structure at Nyam . NBRC117 intersected 0.51 g/t Au over 31.0 m from 47 m in the upper
sulphide mineralization. NBRC118, located 50 metres further north, intersected 0.64 g/t Au
over 19.0 m from 53 m and 1.12 g/t Au over 5.0 m from 80 m in the upper sulphides. NBRC116,
drilled 100 metres south of NBRC117, intersected 0.46 g/t Au over 22.0 m from 86 m in the
upper sulphide mineralization and 1.00 g/t Au over 7.0 m from 41 m in the oxidized material.
This drilling continues to confirm continuity along strike and down dip for the principal
structures which comprise the Nyam Gold Deposit. The width and gold grades within these
drill results are consistent with prior wider-spaced drilling completed at Nyam. The Company
anticipates that these results, along with drill results previously released from the 2024 - 2025
drill program completed at the Boin and Sewum deposits, should improve the confidence level
of the existing Mineral Resource Estimate. This rec ent drilling was drilled in areas where the
previous pit constrained Mineral Resource Estimate was classified as Inferred. The results of
this recent drilling should allow for conversion of a substantial portion of mineralization within
these areas to the Indicated category.
Drilling at the Kojina Hill Gold Target
KJRC025 to KJRC031 (7 RC holes totalling 944 m) were completed at the Kojina Hill gold
target. Kojina Hill is a n advanced target at Enchi with no defined mineral resource. Drilling
targeted near -surface oxidized, transition as well as shallow sulphide mineralization and
followed-up on prior trenching and wide spaced drilling completed on the target (14 RC holes
totalling 2,588 m drilled as part of the 2020 - 2023 drill program) . RC drilling at Kojina Hill
tested a series of targets across several separate sections that are spread along a strike length
of 1.5 kilometres.
Drilling targeted the northern, central and southern portions of the Kojina Hill Gold Target.
KJRC026 was drilled in the central portion of the target and intersected a wide zone of
mineralization of 0.67 g/t Au over 37.0 m from 69 m , including 1.05 g/t Au over 20.0 m from
70 m in the oxidized transition horizon. KJRC031, drilled 700 metres to the south of KJRC026
in the southern portion of the target area, intersected multiple gold mineralized structures
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including 6.80 g/t Au over 2.0 m from 5 m and 0.69 g/t Au over 8.0 m from 50 m in the oxidized
transition material, and 0.49 g/t Au over 21.0 m from 115 m in the upper sulphides.
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
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.
Nyam Gold Zone
Nyam is one of the five deposits which comprise the Mineral Resource Estimate at Enchi
(Indicated Mineral Resource of 7.8 million tonnes grading 0.65 g/t Au containing 162,000
ounces and Inferred Mineral Resource of 2.7 million tonnes grading 1.21 g/t Au c ontaining
104,700 ounces). Nyam is located 15 kilometres east of the town of Enchi, with nearby roads
and power and further access provided by a series of drill roads. An airborne geophysical
anomaly coincident with the Nyam Gold Deposit shows a complex se ries of linear high
conductivity trends, reflective of the multiple sub -parallel gold -bearing structures. To date,
approximately 25% of the gold-in-soil anomaly is untested by drilling, with the average vertical
depth of all holes drilled to date at Nyam down to 90 metres. Previous drilling at the Nyam
Gold Deposit has been successful in outlining higher -grade gold mineralization below the
projected level of the open pits highlighted by NBDD048 with 4.51 g/t Au over 13.0 m from
236 m and NBDD052 with 3.21 g/t Au over 15.0 m from 321 m. Gold mineralization remains
open to depth.
Kojina Hill Gold Target
The Kojina Hill Gold Target is an advanced target at Enchi with no currently defined mineral
resource estimate. Prior drilling at Kojina Hill consists of 14 RC holes totalling 2,588 metres that
were completed as part of the 2020 - 2023 drill program. Kojina Hill is located 10 kilometres
south of the town of Enchi, with nearby roads and power and further access provided by a
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series of drill roads. Kojina Hill is related to a structure sub -parallel to the Nyam Shear Zone
and the zone is located 1.5 kilometres west of the Nyam Gold Deposit. The Kojina Hill Target
is defined on surface by a two-kilometre-long and one-kilometre-wide gold-in-soil anomaly of
which less than 50% has been tested to date.
Drill Hole Locations
Table 2 - Enchi Gold Project Drill Hole Location Details
Hole ID UTM East UTM North Elevation Azimuth ° Dip ° Length (m)
NBRC108 530218 637234 98 300 -60 108
NBRC109 530243 637218 99 300 -60 138
NBRC110 530293 637299 100 300 -60 147
NBRC111 530260 637325 97 300 -60 84
NBRC112 530610 637824 104 300 -60 80
NBRC113 530604 637746 116 300 -60 108
NBRC114 530615 637788 110 300 -60 96
NBRC115 530792 638222 103 300 -60 108
NBRC116 530768 638196 107 300 -60 120
NBRC117 530816 638271 99 300 -60 102
NBRC118 530837 638302 99 300 -55 120
NBRC119 530170 637212 96 300 -60 60
NBRC120 530209 637190 95 300 -60 144
KJRC025 529138 637394 98 120 -55 100
KJRC026 528814 637355 105 120 -55 130
KJRC027 528806 637083 186 120 -55 180
KJRC028 528833 636835 173 120 -55 150
KJRC029 528579 636781 118 120 -55 132
KJRC030 528475 636835 126 120 -55 108
KJRC031 528423 636863 117 120 -55 144
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.
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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 c ontrol procedures
include the systematic insertion of blanks, standards and duplicates 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.
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
- 7 -
negative variations) of such words and phrases, 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
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, taxation,
controls, regulations and political or economic developments; risks and hazards associated with the
business of mineral exploration, development and mining (including environmental haz ards, 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.
Map Area
2024 - 2025 Drill Program | Enchi Gold Project
Nyam, Ghana (As of April 2025)
500 m
Previous Drill Holes
Legend
Drill Hole
Assays Announced
April 22, 2025
Pit Shell
Outline
NBRC120
NBRC119 NBRC109
NBRC108
NBRC110
NBRC111
NBRC112
NBRC114
NBRC113
NBRC118
NBRC116
NBRC115
NBRC117