Newcore Gold Upsizes Drill Program At Enchi After Raising $11.5 Million In Financing

Newcore Gold Ltd. (TSXV: NCAU) announced this morning that it is increasing the 2020-2021 drill program at its Enchi gold project in Ghana. The company said this move follows the recent completion of its $11.5 million equity financing and the “success achieved to date with drilling” at the property.

“We are excited to be in a strong financial position to continue to unlock the district-scale opportunity at our Enchi Gold Project, with Newcore well-funded to continue to drill the project into 2022,” Newcore Gold Vice President of Exploration Greg Smith said in a statement.

The mining firm previously released the results of the preliminary economic assessment on Enchi reflecting inferred mineral resource of 70.4 million tonnes grading 0.62 g/t gold containing 1.4 million ounces.

The company also shared drill results from its Boin and Sewum gold deposits with highlight assays of 4.16 g/t gold over 5.0 metres and 0.63 g/t gold over 77.0 metres.

Newcore Gold last traded at $0.57 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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