Newcore Gold's Enchi Project Boasts Robust Economics in Ghana

Newcore Gold Ltd.'s (TSXV:NCAU) Enchi Gold Project in Ghana has taken a significant step forward with the completion of its pre-feasibility study. The study outlines a conventional open-pit operation with carbon-in-leach processing at 5.5 million tonnes per annum, with estimated after-tax net present value of about US$496 million and an after-tax internal rate of return of 37%.

The project's robust economics are supported by the strong gold price, currently trading near record highs. The study assumes a base-case gold price of US$3,800 per ounce, but at higher spot-price scenario of US$4,200 per ounce, the PFS indicated an after-tax NPV of about US$647 million and an IRR of 45%.

Newcore has also been running an expanded exploration program, with ongoing drilling that could add ounces to the project's reserve base. The company has reported several encouraging results, including a drill intersection of 3.67 g/t gold over 25.3 metres.