Newcore Gold (TSX-V:NCAU) has commissioned a Prefeasibility Study (PFS) for the Enchi Gold Project in Ghana, which is targeting completion by the end of H1 2026.
Lycopodium Minerals Canada has been engaged as the lead consultant for the study, with support from Fuse Advisors, Knight Piesold, and DRA Global.
The PFS will build on a preliminary economic assessment (PEA) completed in 2024. The study will also include the results of fieldwork and testwork completed in the past two years, as well as 30,000m of drilling, PFS-level metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work.
CEO Luke Alexander says advancing Enchi to the PFS stage represents a milestone as the company unlocks the value of the district-scale project.
“A key component of the work completed in advance of commissioning the PFS was optimisation work aimed at identifying the best processing path that maximises project value and economics in a gold price environment that has strengthened significantly since completion of the 2024 PEA,” Alexander says.
“Metallurgical testwork and optimisation analysis focused on assessing processing alternatives to maximise gold recovery.”
Alexander notes the additional testwork completed highlighted the potential for higher recoveries with a standard milling and carbon-in-leach processing flowsheet.
“Given the positive impact of improved recoveries to the project value and economics, and the lower processing risk, we have determined that this is the optimal development path,” he says.
The Enchi Gold Project hosts an indicated resource of 743,500 ounces of gold @ 0.55 grams per tonne gold and an inferred resource of 972,000 ounces of gold @ 0.65g/t gold. The project covers 248km2 covering 40km of Ghana’s Bibiani Shear Zone.
Write to Aaliyah Rogan at Mining.com.au
Images: Newcore Gold
