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Newcore Gold Ltd. reports exploration and development updates for its 100% owned Enchi Gold Project in Ghana. Company news centers on diamond drilling at deposits including Boin and Sewum, gold mineralization in oxide-transition and fresh rock horizons, and the potential for resource growth at depth. Updates also cover NI 43-101 mineral resource estimates, technical reports, pre-feasibility study work, metallurgical testing, hydrogeology, geotechnical and environmental programs, and capital actions such as warrant exercises that fund project advancement.
Newcore Gold (OTCQX:NCAUF) released a Pre-Feasibility Study for the Enchi gold project in Ghana, outlining a 5.5 Mtpa open pit, milling and CIL operation.
The base case at $3,800/oz gold shows after-tax NPV5% of $496 million, 37% IRR, 1.6-year payback, 9.3-year mine life and 953,350 ounces of payable gold (104,162 oz average annually; 136,709 oz peak in year 2). Initial capital is $351 million, with LOM AISC estimated at $2,290/oz and first three years’ AISC at $1,967/oz. According to Newcore, an 80,000 metre drill program and 2026 high-grade intercepts are not yet included in the PFS, suggesting potential for future resource and mine-life growth.
Newcore Gold (TSX-V:NCAU, OTCQX:NCAUF) reported new diamond drilling results from the Sewum deposit at the Enchi Gold Project in Ghana. Highlights include 1.37 g/t gold over 24.0 m, including 1.93 g/t over 12.0 m in hole SWDD121, and 9.24 g/t over 1.9 m including 17.36 g/t over 1.0 m in SWDD115.
The results, from 6 holes totaling 2,069 m, occur below existing pit-constrained resources and are not yet included in the March 18, 2026 Mineral Resource Estimate for Enchi, which stands at 1.50 million ounces indicated and 0.63 million ounces inferred.
Newcore Gold (OTCQX:NCAUF) expanded its Enchi Gold Project drill program in Ghana to 80,000 metres, supported by a completed $15 million equity financing. Four drill rigs are active, targeting resource conversion, resource growth and new discoveries.
The first 28,000 metres more than doubled Enchi’s Indicated Mineral Resource, with all deposits remaining open along strike and at depth. A Pre-Feasibility Study is targeted for completion by end of June 2026. Newcore also granted 1,340,000 RSUs vesting over three years.
Newcore Gold (OTCQX:NCAUF) reported diamond drill results at the Boin deposit, Enchi, Ghana, including 1.23 g/t Au over 33.0 m (KBDD107) and 1.38 g/t Au over 15.0 m (KBDD111), with a high-grade 5.99 g/t Au over 3.0 m interval. Ten DD holes (3,654 m) tested three deep high-grade shoots; drilling reached a maximum vertical depth of 375 m.
Enchi host resources: Indicated 83.6 Mt @ 0.56 g/t Au (1,502,000 oz) and Inferred 40.1 Mt @ 0.49 g/t Au (626,000 oz). A 60,000 m program and a PFS targeted by end-June 2026 continue.
Newcore Gold (OTCQX: NCAUF) filed a NI 43-101 technical report for an updated Mineral Resource Estimate at the Enchi Gold Project, Ghana, effective October 6, 2025. The update reports an Indicated Resource of 83.6 Mt @ 0.56 g/t (1,502,000 oz) and Inferred 40.1 Mt @ 0.49 g/t (626,000 oz), pit-constrained at US$3,200/oz. The Indicated resource will underpin a Pre-Feasibility Study targeted for completion by end of June 2026. A 60,000 metre drill program continues; ~12,500 metres completed post-resource are not included.
Newcore Gold (OTCQX:NCAUF) reported diamond drilling results at the Sewum deposit, Enchi, Ghana, including 1.59 g/t Au over 15.5 m (incl. 3.22 g/t over 6.4 m) and 0.69 g/t Au over 41.0 m. The 60,000 m program is ongoing; Sewum remains open along strike and at depth. A Pre-Feasibility Study is targeted for completion by end-June 2026.
Enchi hosts an Indicated MRE of 83.6 Mt @ 0.56 g/t Au (1.502M oz) and Inferred 40.1 Mt @ 0.49 g/t Au (626k oz).
Newcore Gold (OTCQX:NCAUF) announced an updated NI 43-101 Mineral Resource for the Enchi Gold Project, effective October 6, 2025. The update reports Indicated 1,502,000 oz at 0.56 g/t Au (83.6 Mt) and Inferred 626,000 oz at 0.49 g/t Au (40.1 Mt).
The Resource uses a US$3,200/oz pit shell; the Indicated resource will underpin a Pre-Feasibility Study targeted for completion by end-June 2026.
Newcore Gold (OTCQX:NCAUF) increased its Enchi drill program to 60,000 metres with three drill rigs active after receiving approximately $10 million from warrant exercises. The program began in August 2024 and has shifted to a second phase targeting mineralization below 200 metres.
A Pre-Feasibility Study is underway and targeted for completion by the end of June 2026; ongoing technical work includes metallurgical, hydrogeological, geotechnical and environmental studies.
Newcore Gold (OTCQX:NCAUF) received approximately $10.3 million from the exercise of 20,548,000 warrants that expired February 27, 2026. The company says proceeds plus existing cash will fund advancement and de-risking of the Enchi Gold Project toward a Pre-Feasibility Study by end-June 2026.
Following exercises, share capital totals 284,385,640 common shares with 9,000,000 options and 6,742,665 RSUs/PSUs outstanding.
Newcore Gold (OTCQX: NCAUF) has commissioned a Pre-Feasibility Study (PFS) for the Enchi Gold Project in Ghana, targeting completion by end of H1 2026. The PFS follows a 2024 PEA and incorporates ~30,000m of additional drilling, extensive metallurgical testwork, geotechnical, hydrogeological and environmental studies. Recent tests show CIL recoveries of 89.4%–97.7%, prompting a shift to a mill and carbon-in-leach flowsheet despite higher processing infrastructure costs.