Newcore Gold Hits High-Grade 174 g/t Intercept at Enchi Project, Ghana, Signaling Deep Resource Growth

Summary

The latest drilling campaign at the Boin Gold Deposit has yielded exceptional results, including a standout intercept of 174 g/t gold over 1.0 metre and 3.54 g/t gold over 23.0 metres. These findings are part of the first diamond drilling results from the current program, which specifically targeted deeper extensions of known mineralization. The market views these results as a validation of the Enchi Project's scalability beyond its current shallow oxide resource, aligning with a broader industry trend of high-grade discoveries in West African greenstone belts.

Potential Positives

• High-grade intercepts significantly exceed the current average resource grade, potentially improving future project economics.
• Confirmation of mineralization at depth opens the door for a substantial increase in total mineral resource estimates.
• The presence of 174 g/t gold indicates 'bonanza' grade potential, which often attracts interest from major mining companies for M&A.
• Successful diamond drilling validates the geological model, reducing exploration risk for subsequent phases.

Potential Negatives

• Deeper mineralization typically requires underground mining, which involves higher capital expenditure (CAPEX) compared to open-pit operations.
• The project remains in the exploration stage, meaning commercial production and cash flow are still several years away.
• Volatility in gold prices and regional geopolitical risks in West Africa could impact the project's long-term valuation.

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