Newcore Gold Ltd. has filed a detailed technical report supporting its Pre-Feasibility Study (PFS) for the Enchi Gold Project in Ghana. The report was prepared by Lycopodium (Americas) Limited of Mississauga, Ontario, and published under the company’s SEDAR+ profile on July 8, 2026. This marks a key step in the project’s development, outlining plans to establish a conventional open-pit mining operation, with a focus on processing 5.5 million tonnes annually.
Building on solid foundations
The PFS relies on the mineral resource estimate released by Newcore on March 18, 2026. This initial assessment used drilling data up to October 6, 2025, covering nearly the full extent of exploration efforts at that time. However, the current resource estimate has not yet incorporated more than 50,000 of the 80,000 metres drilled during the ongoing program. The company is actively expanding its exploration, aiming to uncover high-grade gold deposits that lie below the surface, which will be integrated into future reports.
Recent drilling has extended the known boundaries of the project. Newcore has found mineralization beyond current resource and reserve grades, effectively widening the potential mining areas. As a result, the limits of the pits are being redefined. Results from the 2026 drilling campaign will be included in future resource and reserve estimates, as well as updated economic analyses. These updates will help refine the project’s long-term viability.
Key contributors to the study
The PFS for the Enchi Gold Project was led by Lycopodium (Americas) Limited as the primary consultant. It also included support from a range of industry specialists, each of whom is recognized as a qualified person under the standards of National Instrument 43-101. These experts provided critical analysis in areas such as mining, metallurgy, infrastructure, and environmental assessments. The technical report was thoroughly reviewed and approved by Mr. Gregory Smith, P. Geo, Newcore’s Vice President of Exploration, ensuring all scientific and technical details were accurate.
At Lycopodium, Preetham Nayak, P. Eng., focused on capital cost estimates and overall project economics. Ryda Peung, P. Eng., contributed expertise in metallurgy and recovery methods, while Zuned Shaikh, P. Eng., addressed the project’s infrastructure needs. Additional support came from Knight Piésold, which brought in Ing. Ama Nketiah and Hugues Ngoy Nkulu to assess environmental, social, and community impacts. The firm also included Martiens Prinsloo, Jorge Velazquez, and George Lartey-Young in geotechnical and environmental planning.
DRA Americas Inc. provided geological expertise through Ryan Wilson, Matthew Halliday, and Schadrac Ibrango. Their work centered on analyzing mineral resources and geotechnical aspects of the site. The report also incorporated input from Knight Piésold’s Martiens Prinsloo and George Lartey-Young, who worked on environmental and geotechnical design criteria. This collaborative approach ensured the report covered all necessary aspects of the project.
A strategic gold project
Enchi is located in Ghana, one of Africa’s leading gold-producing nations. The 248 km² project covers a 40-kilometre stretch of the Bibiani Shear Zone, a well-known gold belt that includes the Chirano mine, located just 50 km to the north. The region is home to several major gold deposits, making it an ideal location for Newcore’s exploration and development activities. The project aims to leverage the area’s strong geological potential while maintaining a focus on sustainability and responsible mining.
Newcore’s leadership team holds a 12% equity stake, aligning their interests with shareholders. The company’s vision is to build a resilient and innovative gold enterprise capable of delivering long-term returns. Under the guidance of Luke Alexander, President and CEO, Newcore continues to push forward with Enchi, combining strategic exploration with a commitment to community and environmental responsibility.
The company is making progress in defining the full potential of the Enchi Gold Project. With ongoing drilling and exploration efforts, it aims to refine its resource estimates and optimize project economics. More details on the PFS can be found in Newcore’s news release from June 24, 2026, and the technical report is available on the company’s website and SEDAR+ profile.