PDAC video: Newcore Gold expands drill program for Enchi resource upgrade, CEO says

Published: 2025-04-14 17:00 Author: Northern Miner Staff

Source: MINING.COM (Original Article)

AI Analysis & Insights

Newcore Gold Expands Drilling at Enchi Project to Boost Resource Valuation, CEO Reveals

Summary: Newcore Gold has ramped up its drilling program to 35,000 meters at the Enchi gold project in Ghana, aiming to upgrade resources and enhance valuation, as stated by CEO Luke Alexander.

Introduction

Newcore Gold (TSXV: NCAU; OTCQX: NCAUF) is intensifying its exploration efforts at the Enchi gold project in Ghana, with CEO Luke Alexander announcing an expanded drilling program of 35,000 meters. In a recent video interview at the Prospectors and Developers Association of Canada (PDAC) event, Alexander highlighted the potential for significant resource growth and valuation uplift.

Drilling Expansion and Resource Potential

The company is targeting high-grade feeder zones at depth, which Alexander believes could substantially increase the size of greenstone-hosted deposits like Enchi. The current resource estimate from January 2023 stands at 41.7 million indicated tonnes grading 0.55 grams per tonne for 743,500 ounces of gold, and 46.6 million inferred tonnes at 0.65 grams per tonne for 972,000 ounces. Recent drilling results, including intercepts of 1 meter at 204 grams gold and 60 meters at 1.85 grams gold from surface, underscore the project's high-grade potential.

Financial Backing and Project Economics

Following a C$15-million financing round in February, supported by institutional investors, Newcore is well-positioned to advance its objectives. A 2024 preliminary economic assessment (PEA) projects an after-tax net present value of $371 million (at a 5% discount rate) and a 58% internal rate of return at a gold price of $1,850 per ounce. The envisioned low-capex, open-pit, heap-leach operation could produce 1.1 million ounces over nine years. The company aims to complete a prefeasibility study by mid-2026.

Editorial Analysis

While Newcore's aggressive drilling program and promising intercepts are encouraging, investors should remain cautious. The reliance on high-grade zones at depth introduces geological and operational risks, as such zones can be inconsistent or costly to extract. Additionally, the PEA's optimistic projections are based on a gold price of $1,850 per ounce, which may not hold in volatile markets. That said, the project's low-capex model and strong IRR suggest a compelling case if execution aligns with expectations.

Conclusion:

Newcore Gold's expanded drilling at Enchi signals a strategic push to enhance resource valuation ahead of a mid-2026 prefeasibility study. While early results and economic projections are promising, the inherent risks of exploration and market fluctuations warrant careful monitoring. The coming months will be critical in determining whether Enchi can deliver on its potential as a significant gold asset.

Newcore Gold 扩大恩奇项目钻探计划以提升资源估值，CEO 透露

摘要: Newcore Gold 宣布将其在加纳恩奇金矿项目的钻探计划增加至 35,000 米，旨在提升资源量和估值，CEO Luke Alexander 表示。

引言

Newcore Gold (TSXV: NCAU; OTCQX: NCAUF) 正在加纳恩奇金矿项目上加大勘探力度，CEO Luke Alexander 宣布钻探计划扩大至 35,000 米。在最近于加拿大勘探者与开发者协会 (PDAC) 年度活动上的视频采访中，Alexander 强调了资源增长和估值提升的巨大潜力。

钻探扩展与资源潜力

公司正专注于深部高品位供矿带，Alexander 认为这类绿岩型矿床的规模可能因此显著扩大。2023 年 1 月的最新资源估算显示，恩奇项目拥有 4170 万吨指示资源，品位 0.55 克/吨，含金 743,500 盎司；以及 4660 万吨推断资源，品位 0.65 克/吨，含金 972,000 盎司。近期钻探结果，包括 1 米品位 204 克金和自地表起 60 米品位 1.85 克金的截距，凸显了该项目的高品位潜力。

资金支持与项目经济性

在 2 月份完成 1500 万加元的融资后，得到机构投资者的支持，Newcore 有能力推进其目标。2024 年的初步经济评估 (PEA) 预测，以 5% 折现率计算，税后净现值为 3.71 亿美元，以金价 1850 美元/盎司计，内部收益率为 58%。该项目计划采用低资本支出的露天堆浸工艺，预计在 9 年内生产 110 万盎司黄金。公司计划在 2026 年中期完成预可行性研究。

编辑分析

尽管 Newcore 的积极钻探计划和令人振奋的截距结果令人鼓舞，但投资者仍需保持谨慎。依赖深部高品位矿带带来了地质和运营风险，因为此类矿带可能不稳定或开采成本高昂。此外，PEA 的乐观预测基于金价 1850 美元/盎司，在波动性较大的市场中可能无法持续。不过，该项目的低资本支出模式和强劲的内部收益率表明，如果执行顺利，其前景仍具吸引力。

结论:

Newcore Gold 在恩奇项目的钻探扩展表明其在 2026 年中期预可行性研究前提升资源估值的战略意图。虽然早期结果和经济预测令人看好，但勘探风险和市场波动仍需密切关注。未来几个月将至关重要，以确定恩奇是否能实现其作为重要黄金资产的潜力。