Newcore Gold Files Technical Report for Enchi Gold Project

Newcore Gold Ltd. has filed a technical report supporting its updated Preliminary Economic Assessment (PEA) for the Enchi Gold Project in Ghana. Prepared under NI 43-101 standards, the document outlines a development strategy centered on an open-pit, heap-leach operation with an annual throughput of 8.1 million tonnes.

Based on a gold price of $1,850 per ounce, the assessment suggests a life-of-mine production of 1.1 million ounces over nine years. Initial capital requirements are estimated at $106 million, with a payback period of 1.6 years. The study incorporates drilling data and metallurgical testing completed since 2021, providing a refined outlook on the project's economic potential.

Industry analysts note that the project sits on a 248-square-kilometer property within a historically active gold belt. Newcore has identified over 20 exploration targets that remain largely untested, suggesting long-term growth potential beyond the current resource estimate.

As is standard for a PEA, the results include inferred mineral resources that are considered geologically speculative. The company cautions that there is no certainty the projected economic outcomes will be realized, as mineral resources do not yet constitute proven reserves.