Drilling Continues To Prove Continuity Of Gold Mineralization At Enchi Project

VANCOUVER – Newcore Gold Ltd. reported that drilling continues to prove out the continuity of gold mineralization and potential for resource growth at Enchi. The first phase of the drill program at Enchi Gold Project was focused on resource growth and infill drilling designed to convert Inferred Resources to Indicated, targeting near-surface oxide and shallow fresh mineralization. This first phase of drilling is an important step for resource conversion required in advance of commissioning a Pre-Feasibility Study in Q4 2025. The 45,000 metre drill program underway is now in its second phase, focused on discovery and resource growth including drilling targeting earlier-stage exploration targets, drilling along strike at existing deposits, and drilling focused on defining the resource growth potential from the higher-grade structures at depth.

Drilling has encountered wide zones of gold mineralization within both the oxidized and fresh mineralization, with higher-grade intervals. Boin: KBRC352 intersected 2.25 g/t Au over 56.0 m from 96 m, including a higher-grade interval of 3.83 g/t Au over 15.0 m from 122 m. Boin: KBRC288 intersected 1.96 g/t Au over 62.0 m from 139 m, including 2.31 g/t Au over 25.0 m from 139 m, and 2.23 g/t Au over 28.0 m from 171 m. Sewum: SWRC194 intersected 1.85 g/t Au over 62.0 m from 1 m, with a higher-grade interval of 8.36 g/t Au over 10.0 m from 13 m. 

Intervals of high-grade gold continue to be encountered, with some of the highest gold grade intervals to date intersected at Enchi. Boin: KBRC301 intersected 204.27 g/t Au over 1.0 m from 59 m (true width unknown), with a contiguous zone of 1.46 g/t Au over 2.0 m from 60 m. Kojina Hill: KJRC033 intersected 184 g/t Au over 1.0 m from 126 m (true width unknown), within a 24-metre contiguous zone of gold mineralization (from 124 m to 148 m, true width unknown) which also included 0.75 g/t Au over 2.0 m from 124 m, 1.08 g/t Au over 7.0 m from 127 m and 0.57 g/t Au over 10.0 m from 138 m.

Mineralization encountered outside of the current limits of the pit constrained Mineral Resource Estimate, highlighting the potential for future resource growth. Boin: KBRC294 intersected 0.94 g/t Au over 54.0 m from 150 m, including 2.11 g/t Au over 7.0 m from 151 m, and 2.08 g/t Au over 11.0 m from 170 m. The mineralization at the end of the hole was intersected outside the limits of the pit that constrains the current Mineral Resource Estimate, with this hole also ending in mineralization. Sewum: SWRC224 intersected 1.24 g/t Au over 20.0 m from 69 m, outside the limits of the pit that constrains the Mineral Resource Estimate.

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. Kojina Hill is an advanced target at Enchi that has no defined mineral resource.

Luke Alexander, President and CEO, said, “We are thrilled to be well funded to continue to unlock the district scale potential of our Enchi Gold Project in Ghana through the drill bit. With most drilling to date at Enchi targeting shallow mineralization to an average vertical depth of 100 metres, we believe we have only just begun to define the larger scale potential of the Project when compared to other multi-million-ounce gold mines, including Asante’s Chirano and Bibiani mines as well as Newmont’s Ahafo mine, which are located along the Sefwi-Bibiani belt. We are excited to be shifting to this next phase of drilling which will include diamond drilling targeting the higher-grade potential at depth. Newcore has a busy year ahead, in tandem with the drilling underway we continue to work towards completing the technical work required to advance Enchi to a Pre-Feasibility Study in 2026.”