Mining Stock Daily Newcore Gold Expands Exploration at Enchi as the Company Approaches its PFS
Mar 12, 2026
Luke Alexander, CEO of Newcore Gold, leads exploration and development at the Enchi Gold Project in Ghana. He discusses expanding drilling to 60,000 meters, targeting deeper high-grade feeder zones and district-scale opportunities. He explains how warrant exercises funded the program and how Ghana's proposed sliding-scale royalty could affect project economics.
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Expanded 60,000m Drill Program Targets Conversion And Depth
- Newcore expanded Enchi drilling to 60,000 meters to convert inferred ounces and find deeper high-grade feeders.
- The program increased from ~33,000m to 60,000m and adds a third rig to accelerate results ahead of the June PFS.
District Scale Upside With Shallow Historical Drilling
- Enchi has district-scale upside with shallow historic drilling averaging ~100m vertical depth, leaving deep feeder zones largely untested.
- Newcore has 25+ targets, only nine drilled, and recent deep holes returned very high-grade intercepts validating deeper testing.
Use Warrants To Attract Long Term Supporters
- Use warrant terms strategically to attract the right investors rather than every available dollar.
- Newcore issued short-dated half-warrants at premiums to draw long-term, deep-pocketed precious metals investors who later exercised and funded drilling.