(TheNewswire)
Toronto, ON - June 1 5 , 2021 - Junior MiningNetwork - Newcore Gold Ltd. (TSXV:NCAU, OTC:CAUF) discusses results of its recently updated Preliminary Economic Assessment (“PEA”) for its 100% owned Enchi Gold Project in Ghana.
The PEA contemplates a technically simple, open pit mine and heapleach operation utilizing contract mining. The PEA highlights strongproject economics with low capital intensity and establishes thepotential for a robust project with significant growth potential. ThePEA also reflects an updated, pit constrained, Mineral ResourceEstimate with only 20,195 metres of drilling from the ongoing 66,000metre drill program included in the update. Exploration and drillingactivities continue on the Enchi Gold Project, with a 66,000 metreresource expansion and discovery drill program underway.
CEO Luke Alexander sits down with host Phoenix Phillips to discuss theupdated PEA:
* The PEA is preliminary in nature,includes Inferred mineral resources that are considered toospeculative geologically to have economic considerations applied tothem that would enable them to be categorized as mineral reserves, andthere is no certainty that PEA results will be realized. Mineralresources are not mineral reserves and do not have demonstratedeconomic viability.
For further information, pleasecontact:
Mal Karwowska | Vice President, Corporate Development and InvestorRelations
+1 604 484 4399
info@newcoregold.com
www.newcoregold.com
About Newcore Gold Corp.
Newcore Gold is advancing its Enchi Gold project located in Ghana,Africa’s largest gold producer 1 . Newcore Gold offers investors a unique combination oftop-tier leadership, who are aligned with shareholders through their32% equity ownership, and prime district scale explorationopportunities. Enchi’s 216 km 2 land package covers 40 kilometres of Ghana’s prolificBibiani Shear Zone, a gold belt which hosts several 5 million ouncegold deposits, including Kinross’ Chirano mine 50 kilometers to thenorth. Newcore’s vision is to build a responsive, creative andpowerful gold enterprise that maximizes returns for shareholders.
(1) Source: Production volumes for 2019 as sourced fromthe World Gold Council.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Cautionary NoteRegarding Forward-Looking Statements
This news release includesstatements that contain "forward-looking information" withinthe meaning of the applicable Canadian securities legislation("forward-looking statements"). All statements, other thanstatements of historical fact, are forward-looking statements and arebased on expectations, estimates and projections as at the date of this news release.Any statement that involves discussion with respect to predictions,expectations, beliefs, plans, projections, objectives, assumptions,future events or performance (often, but not always using phrases suchas "plans", "expects", "is expected","budget", "scheduled", "estimates","forecasts", "intends", "anticipates",or "believes" or variations (including negative variations)of such words and phrases, or state that certain actions, events orresults "may", "could", "would","might" or "will" be taken, occur or be achieved)are not statements of historical fact and may be forward-lookingstatements. In this news release, forward-looking statements relate,among other things, to: timing of completion of a technical report summarizing the resultsof the PEA; the development, operational and economic results of thePEA, including cash flows, capital expenditures, development costs,extraction rates, recovery rates, mining cost estimates; estimation ofmineral resources; statements about the estimate of mineral resources;magnitude or quality of mineral deposits; anticipated advancement ofthe Enchi Gold Project mine plan; future operations; futureexploration prospects; the completion and timing of future developmentstudies; results of our ongoing drill campaign; anticipatedadvancement of mineral properties or programs; future explorationprospects; and the future growth potential of Enchi.
These forward-looking statements,and any assumptions upon which they are based, are made in good faithand reflect our current judgment regarding the direction of ourbusiness. The assumptions underlying the forward-looking statementsare based on information currently available to Newcore. Although theforward-looking statements contained in this news release are basedupon what management of Newcore believes, or believed at the time, tobe reasonable assumptions, Newcore cannot assure its shareholders thatactual results will be consistent with such forward-lookingstatements, as there may be other factors that cause results not to beas anticipated, estimated or intended. Forward-looking informationalso involves known and unknown risks, uncertainties and other factorswhich may cause the actual results, performance or achievements of theCompany to be materially different from any future results,performance or achievements expressed or implied by theforward-looking information. Such factors include, among others: risksrelated to interpretation ofmetallurgical characteristics of the mineralization, changes inproject parameters as plans continue to be refined, future metalprices, availability of capital and financing on acceptable terms,uninsured risks, regulatory changes, delays or inability to receiverequired approvals, taxes, mining title, the speculative nature of the Company’sbusiness; the Company’s formative stage of development; theCompany’s financial position; possible variations in mineralization,grade or recovery rates; actual results of current explorationactivities; fluctuations in general macroeconomic conditions;fluctuations in securities markets; fluctuations in spot and forwardprices of gold and other commodities; fluctuations in currency markets(such as the Canadian dollar to United States dollar exchange rate);change in national and local government, legislation, taxation,controls, regulations and political or economic developments; risksand hazards associated with the business of mineral exploration,development and mining (including environmental hazards, unusual orunexpected geological formations); the presence of laws andregulations that may impose restrictions on mining; employeerelations; relationships with and claims by local communities; thespeculative nature of mineral exploration and development (includingthe risks of obtaining necessary licenses, permits and approvals fromgovernment authorities); and title to properties.
Forward-looking statements containedherein are made as of the date of this news release and the Companydisclaims any obligation to update any forward-looking statements,whether as a result of new information, future events or results,except as may be required by applicable securities laws. There can beno assurance that forward-looking information will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers shouldnot place undue reliance on forward-looking information.
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