Newcore Gold - 2026 Growth Plans: Drilling, PFS, Updated Resource, High-Grade Results At Depth

The KE Report Jan 15, 2026

Summary

Newcore Gold's first diamond drill results at Enchi returned 173 g/t gold over 1 meter, the project's fourth-highest grade intercept to date.

The fully funded 2026 program covers 45,000 meters of drilling and a mid-year PFS, supported by $10M in expected warrant proceeds.

Management aims to fast-track Enchi into production by 2029, citing Ghana's status as Africa's largest gold producer and a supportive government.

Future exploration will chase deep high-grade feeder zones similar to those that grew neighbor Newmont's Ghana mine by 6.5x.

Cited as the ~20 Moz Newmont mine on Ghana's Sefwi-Bibiani belt whose reserves grew roughly 6.5x from the initial resource release — used by the guest as the headline analogue for deeper drilling upside at Enchi.
Listed among the four top-10 global gold producers already operating in Ghana.

The guest reports the deepest holes to date at the Boin deposit, including a 173 g/t gold intercept over 1 metre, and frames 2026 around a mid-year PFS plus an updated resource build on the existing 1.71 Moz indicated-and-inferred base (last refreshed mid-2024).
The guest says the initial 30,000 metres of the 2026 program — focused on resource conversion from inferred to indicated — is now complete, with the remaining 15,000 metres and any post-program expansion shifted to step-out and deeper diamond drilling aimed at high-grade feeder zones.
He argues that neighbour analogues — Newmont's Ahafo (~20 Moz today, ~6.5x growth from initial reserves) and the nearby Tiranqoe mine (~5.5x growth) — show the scale that systematic deep drilling on the Sefwi-Bibiani belt could add to Enchi.
The company expects roughly $10 million of additional cash from in-the-money warrant exercises (50-cent strike vs. an 80–85 cent share price as of mid-January 2026), held ~80% by five institutions, and intends to use it to expand drilling well past 45,000 metres.
The guest lays out a path from PFS mid-2026 to a 12–18 month feasibility study and a 2029 production target, citing a supportive Ghanaian government and a thin pipeline of development-stage projects in Africa's largest gold producer as reasons to fast-track rather than keep exploring indefinitely.