Newcore Gold Drilling Intersects 1.57 g/t Gold Over 40.0 Metres, including 5.40 g/t Gold Over 9.0 Metres, at the Enchi Gold Project, Ghana

Rhea-AI Summary

Newcore Gold Ltd. (NCAUF) announced significant drill results from the Nyam Gold Deposit at its Enchi Gold Project in Ghana. Highlights include intersections of 1.57 g/t Au over 40.0 m and 5.40 g/t Au over 9.0 m, extending mineralization to a vertical depth of 200 m and a strike length of 1.8 km. All 24 holes drilled intersected gold mineralization, indicating potential for resource growth. The company has completed 34,625 metres of its planned 58,000 metre drill program, with results from 40% of the drilling released to date.

Positive

• All 24 holes drilled intersected gold mineralization.
• Mineralization extended to a vertical depth of 200 metres and a strike length of 1.8 km.
• High-grade results include 5.40 g/t Au over 9.0 m and 5.78 g/t Au over 7.0 m.
• Strong potential for resource growth indicated by results from deeper drilling.

Negative

• None.

Results from Drilling on the Nyam Gold Deposit, Including the Deepest Holes Drilled to Date, Extend Mineralization Along Strike and at Depth

VANCOUVER, British Columbia, March 22, 2021 (GLOBE NEWSWIRE) --  Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) is pleased to announce additional drill results from the 58,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project ("Enchi" or the "Project") in Ghana. Drilling has intersected 1.57 grams per tonne gold ("g/t Au") over 40.0 metres ("m") from 179 m, including 5.40 g/t Au over 9.0 m from 185 m, and 1.94 g/t Au over 25.0 m from 222 m, including 5.78 g/t Au over 7.0 m from 227 m, at the Nyam Gold Deposit ("Nyam"). All holes intersected gold mineralization outside of the current National Instrument 43-101 ("NI 43-101") resource, extending the mineralization both at depth and along strike with mineralization remaining open in all directions. These results also include the deepest intersections of mineralization drilled to date at Nyam, with mineralization now defined to a vertical depth of 200 metres and the strike length of the mineralization extended to 1.8 kilometres.

Highlights from Drilling at Nyam

• Drilling below the current resource at Nyam has intersected wide zones of mineralization, including high-grade core structures:
  • Hole NBRC045 intersected 1.57 g/t Au over 40.0 m from 179 m to 219 m, including 5.40 g/t Au over 9.0 m from 185 m to 194 m (sulphide zone).
  • Hole NBRC047 intersected 1.94 g/t Au over 25.0 m from 222 m to 247 m, including 5.78 g/t Au over 7.0 m from 227 m to 234 m (sulphide zone).
• Drilling continues to intersect strong gold mineralization along strike to the south and beyond the limits of the existing resource:
  • Hole NBRC027 intersected 2.83 g/t Au over 6.0 m from 3 m to 9 m (oxide zone).
  • Hole NBRC024 intersected 1.34 g/t Au over 27.0 m from 57 m to 84 m (sulphide zone), as well as a second zone with 3.45 g/t Au over 9.0 m from 93 m to 102 m (sulphide zone).
  • Hole NBRC025 intersected 0.84 g/t Au over 32.0 m from 92 m to 124 m (sulphide zone).
  • Hole NBRC031 intersected 1.28 g/t Au over 11.0 m from 177 m to 188 m (sulphide zone).
• Additional wide intercepts encountered within the near surface oxide zone:
  • Hole NBRC044 intersected 1.17 g/t Au over 26.0 m from 41 m to 67 m (oxide zone).
  • Hole NBRC039 intersected 0.50 g/t Au over 22.0 m from 7 m to 29 m (oxide zone).
  • Hole NBRC034 intersected 0.59 g/t Au over 14.0 m from surface to 14 m (oxide zone).

Luke Alexander, President & CEO of Newcore stated, "We are excited by these results from Nyam, with all 24 holes drilled intersecting gold mineralization and highlighting the potential for resource growth on this area of the Enchi Gold Project. Not only did these results include some of the deepest intersections to date, reaching a vertical depth of 200 metres, but these results also extend the drill tested mineralization along strike both to the south and north of the deposit area. The strike length at Nyam has now been extended to 1.8 kilometres, with drilling to date testing less than 50% of the four-kilometre-long gold-in-soil anomaly that outlines the Nyam target. With results released for only approximately 40% of the 58,000 metre drill program underway at Enchi, we look forward to continuing to highlight the Project’s potential as we continue to release results over the next several months."

Greg Smith, Vice President of Exploration of Newcore stated, "Results from the Nyam Gold Deposit continue to expand the limits of the drill tested mineralization outside of the existing resource. Results from Nyam have consistently returned some of the higher grades on the Project, with these results continuing that trend and two of the holes intersecting mineralized intervals greater than 5 g/t Au. It is these higher grades that we will continue to target as the drilling advances to testing deeper portions of the gold systems on the Enchi Gold Project."

This news release reports results for 24 RC holes (4,212 m) targeting the Nyam Gold Deposit. All holes intersected gold mineralization, with drilling extending the drill tested mineralization along strike both to the north and south, and extending the strike length of the Nyam target to 1.8 kilometres. These results also include the deepest intersections of mineralization drilled to date at Nyam.

In the central portion of the deposit, a series of deeper holes testing mineralization down dip from previous drilling intersected wide zones of mineralization, including high-grade core structures. Hole NBRC045 intersected 1.57 g/t Au over 40.0 m from 179 m, including 5.40 g/t Au over 9.0 m from 185 m. Hole NBRC047, collared 50 metres to the north, intersected 1.94 g/t Au over 25.0 m from 222 m, including 5.78 g/t Au over 7.0 m from 227 m. These intercepts in the sulphide zone are the deepest drilling completed at Nyam to date, with the high-grade interval in hole NBRC047 (5.78 g/t Au over 7.0 m) occurring approximately 200 metres vertically below surface.

Eight holes (NBRC024 to NBRC031) were completed south of the southern limit of the current resource, targeting the area where drilling in 2020 intersected 1.38 g/t Au over 45 m (NBRC017). All eight holes intersected gold mineralization. Hole NBRC024 intersected 1.34 g/t Au over 27.0 m from 57 m and then a second zone of 3.45 g/t Au over 9.0 m from 93 m (both in the sulphide zone); hole NBRC025 intersected 0.84 g/t Au over 32.0 m from 92 m (sulphide zone); and hole NBRC031 intersected 1.28 g/t Au over 11.0 m from 177 m (sulphides). Drilling on this southern extension also tested the gold mineralization in the near surface oxide portion with NBRC027 intersecting 2.83 g/t Au over 6.0 m from 3 m, and NBRC024 intersecting 0.67 g/t Au over 4.0 m from 22 m. These holes in the south have extended the drill tested portion of the mineralization approximately 75 metres down dip and 100 metres along strike to the south, extending the strike length of Nyam to 1.8 kilometres.

Drilling also returned further wide intercepts within the near surface oxide zone at Nyam, including hole NBRC044, drilled in the central portion of the structure and targeting previously untested near surface mineralization, intersected 1.17 g/t Au over 26.0 m from 41 m. Hole NBRC034, collared 200 metres north of NBRC044, intersected 0.59 g/t Au over 14.0 m from surface.

A series of eight additional holes (NBRC036 to NBRC043) tested the northern extension of Nyam, with all holes returning gold mineralized intercepts. Hole NBRC039, stepping out 100 metres north of previous drilling, intersected 0.50 g/t Au over 22.0 m from 7 m in oxides. Hole NBRC040, a 25-metre step-back on the same section as NBRC039, intersected 1.05 g/t Au over 7.0 m from 76 m in sulphides. Hole NBRC042A, which also tested the northern extension, intersected 0.62 g/t Au over 13.0 m from 24 m in oxides.

Select assay results from the 24 holes of the drill program reported in this release are below:

Table 1 - Enchi Gold Project Drill Highlights

Hole ID	Zone/Deposit	From (m)	To (m)	Length (m)	Au (g/t)
CENTRAL HOLES - SULPHIDE (deeper holes testing mineralization down dip from prior drilling)
NBRC045	Nyam	179.0	219.0	40.0	1.57
including		185.0	194.0	9.0	5.40
NBRC046	Nyam	124.0	147.0	23.0	0.60
NBRC047	Nyam	222.0	247.0	25.0	1.94
including		227.0	234.0	7.0	5.78
CENTRAL HOLES - OXIDE (targeting previously untested near surface oxide mineralization)
NBRC034	Nyam	0.0	14.0	14.0	0.59
NBRC044	Nyam	41.0	67.0	26.0	1.17
SOUTHERN HOLES (tested south of the southern limit of the current resource)
NBRC024	Nyam	57.0	84.0	27.0	1.34
and		93.0	102.0	9.0	3.45
NBRC025	Nyam	92.0	124.0	32.0	0.84
NBRC026	Nyam	105.0	109.0	4.0	2.39
NBRC027	Nyam	3.0	9.0	6.0	2.83
NBRC030	Nyam	69.0	85.0	16.0	1.17
NBRC031	Nyam	177.0	188.0	11.0	1.28
NORTHERN HOLES (tested the northern extension)
NBRC039	Nyam	7.0	29.0	22.0	0.50
NBRC040	Nyam	76.0	83.0	7.0	1.05
NBRC042A	Nyam	24.0	37.0	13.0	0.62

Notes:

1. See detailed table for complete results
2. Intervals reported are core lengths with true width estimated to be 75 - 85%
3. Length-weighted averages from uncut assays
   

A plan map showing the drill hole locations can be viewed at:
https://newcoregold.com/site/assets/files/5676/2021_03_22-ncau-nr-enchi-plan-map-l.pdf

Cross sections showing drill results and highlights for holes NBRC045, NBRC046 and NBRC047 can be viewed at:
https://newcoregold.com/site/assets/files/5676/2021_03_22-ncau-crosssections-nyam-l.pdf

A complete list of the 2020 - 2021 drill results to date, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5676/2021_03_22-ncau-enchi-2020-2021-drill-results-l.pdf

A total of 34,625 metres in 216 holes have been completed as part of the ongoing 2020 - 2021 drill program at Enchi. For the total planned 58,000 metre drill program, assay results have now been received and released for 151 holes representing 24,586 metres (24 holes totalling 4,212

FAQ

What are the latest drill results from Newcore Gold's Nyam Gold Deposit?

Newcore Gold announced significant drill results, including 1.57 g/t Au over 40.0 m and 5.40 g/t Au over 9.0 m, indicating strong mineralization.

How deep has Newcore Gold drilled in the Nyam Gold Deposit?

The drilling has reached a vertical depth of 200 metres, marking the deepest intersections to date.

What is the current status of the Enchi Gold Project drill program?

Newcore Gold has completed 34,625 metres of its planned 58,000 metre drill program with results from 40% of the drilling released.

How far has gold mineralization been extended at Nyam Gold Deposit?

The strike length of mineralization has been extended to 1.8 kilometres.

What is the significance of the drill results for Newcore Gold investors?

The consistent gold mineralization and high-grade intersections suggest potential for resource growth, which could positively impact stock performance.