Newcore Gold Announces Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana
Original announcement by tmx on
- Company
- Newcore Gold Ltd.
- Ticker
- NCAU
- Exchange
- TSX
- Region
- Ghana
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-09-12 15:04:41 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Newcore Gold announced an updated Mineral Resource Estimate for its Enchi Gold Project in Ghana, significantly increasing the Indicated gold ounces to 1.5 million at 0.56 g/t Au, more than double the previous estimate. The updated resource, which also includes 626,000 Inferred ounces at 0.49 g/t Au, will form the basis for a Pre-Feasibility Study targeted for completion by mid-2026. The company highlights the project's potential for further growth as deposits remain open along strike and at depth.
Reasoning: The updated Mineral Resource Estimate significantly increased the Indicated gold ounces, providing a strong foundation for the upcoming Pre-Feasibility Study. While the average grades are relatively low compared to typical orogenic gold deposits, they are consistent with a bulk-tonnage open-pit scenario, and the project retains significant exploration upside.
Positive factors
- Significant increase in Indicated resources, more than doubling the previous estimate.
- The updated Indicated Mineral Resource will form the basis for a Pre-Feasibility Study (PFS), de-risking project development.
- The deposits remain open along strike and at depth, indicating potential for future resource growth.
- The resource estimate is NI 43-101 compliant and signed off by independent Qualified Persons.
Negative factors
- The average grades are relatively low (0.56 g/t Au Indicated, 0.49 g/t Au Inferred) compared to typical orogenic gold deposits, falling into the weak category for open-pit gold.
- A significant portion of the total resource (626,000 ounces) remains in the Inferred category.
- The cut-off grade varies by material type (0.1 to 0.2 g/t Au), which can complicate direct comparison.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 48
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The Indicated Mineral Resource more than doubled to 1,502,000 ounces gold, representing a significant increase in confidence.
Evidence · text
“More Than Doubled the Indicated Mineral Resource to 1,502,000 Ounces Gold.”
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: The Indicated Mineral Resource increased to 83.6 million tonnes, more than double the last Indicated Resource published in 2023.
Evidence · text
“Indicated Mineral Resource of 1,502,000 ounces of gold at an average grade of 0.56 g/t Au within 83.6 million tonnes, more than double the last Indicated Resource for the Project published in 2023”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The Indicated Mineral Resource increased to 1,502,000 ounces of gold, more than double the last Indicated Resource for the Project.
Evidence · text
“Indicated Mineral Resource of 1,502,000 ounces of gold at an average grade of 0.56 g/t Au within 83.6 million tonnes, more than double the last Indicated Resource for the Project published in 2023”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The resource estimate was prepared by Ryan Wilson, P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo of DRA Global Limited, who are independent qualified persons.
Evidence · text
“The resource estimate was prepared by Ryan Wilson, P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo of DRA Global Limited in accordance with NI 43-101. These individuals are QPs as defined by NI 43-101.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The Mineral Resource Estimate was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Evidence · text
“prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101")”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The document states that open pit cut-off grades varied from 0.1 to 0.2 g/t Au and a US$3,200 per ounce gold price was used.
Evidence · text
“Open pit cut-off grades varied from 0.1 to 0.2 g/t Au based on mining and processing costs as well as the recoveries in different weathered material. A US$3,200 per ounce gold price was used to determine the cut-off grade.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource includes an Inferred Mineral Resource of 40.1 million tonnes at an average grade of 0.49 g/t Au containing 626,000 ounces gold.
Evidence · text
“Inferred Mineral Resource of 40.1 million tonnes at an average grade of 0.49 g/t Au containing 626,000 ounces gold.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The announcement explicitly states it is an 'Updated Mineral Resource Estimate' for the Enchi Gold Project.
Evidence · text
“Newcore Gold Announces Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana”
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: The Indicated Mineral Resource will form the basis for the Pre-Feasibility Study which is underway and targeted for completion by the end of June 2026.
Evidence · text
“The Indicated Mineral Resource will form the basis for the Pre-Feasibility Study ("PFS") which is underway and targeted for completion by the end of June 2026”
Extracted facts
Stored fact records: 48. Some facts used in scoring do not have a stored record.
Resource Estimates (48)
indicatedEnchi Gold Project · goldTonnes: 23477000Grade: 0.73Grade Unit: g/tContained Metal: 550000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:e3b6a799f1d39dd05812
- Deposit or zone
- Boin
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 23477000
- Grade
- 0.73
- Grade Unit
- g/t
- Contained Metal
- 550000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Boin zone contributes a significant portion to the overall Indicated resource, with a moderate grade for open-pit mining.
Positive factors
- Significant Indicated resource for the Boin zone.
- Grade of 0.73 g/t Au is moderate for an open-pit gold deposit.
Evidence · table
“0.73”
Context: 23,477,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 9237000Grade: 0.6Grade Unit: g/tContained Metal: 178000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:a779ccd58ae4eb764da6
- Deposit or zone
- Boin
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 9237000
- Grade
- 0.6
- Grade Unit
- g/t
- Contained Metal
- 178000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Boin zone also has a notable Inferred resource, contributing to the project's overall potential, though with lower confidence.
Positive factors
- Adds to the overall resource potential of the Boin zone.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.60”
Context: 9,237,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 41233000Grade: 0.43Grade Unit: g/tContained Metal: 573000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:af78bb75c88518caf885
- Deposit or zone
- Sewum
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 41233000
- Grade
- 0.43
- Grade Unit
- g/t
- Contained Metal
- 573000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Sewum zone is the largest contributor to the Indicated resource by tonnage, though with a lower average grade.
Positive factors
- Largest Indicated tonnage among the zones, contributing significantly to the total.
Negative factors
- Grade of 0.43 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.43”
Context: 41,233,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 24246000Grade: 0.39Grade Unit: g/tContained Metal: 308000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:eb6581320e3ed951991e
- Deposit or zone
- Sewum
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 24246000
- Grade
- 0.39
- Grade Unit
- g/t
- Contained Metal
- 308000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Sewum zone has a substantial Inferred resource, but with lower confidence and a grade below the weak threshold for open-pit gold.
Positive factors
- Adds significant tonnage to the overall Inferred resource.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.39 g/t Au is below the weak category for open-pit gold.
Evidence · table
“0.39”
Context: 24,246,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 13458000Grade: 0.66Grade Unit: g/tContained Metal: 287000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:6f8dab9cdbeb34c64e18
- Deposit or zone
- Nyam
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 13458000
- Grade
- 0.66
- Grade Unit
- g/t
- Contained Metal
- 287000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Nyam zone provides a solid Indicated resource with a moderate grade, contributing to the project's overall confidence.
Positive factors
- Good Indicated resource for the Nyam zone.
- Grade of 0.66 g/t Au is moderate for an open-pit gold deposit.
Evidence · table
“0.66”
Context: 13,458,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 5471000Grade: 0.68Grade Unit: g/tContained Metal: 120000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:3d9f664da4b95758847e
- Deposit or zone
- Nyam
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 5471000
- Grade
- 0.68
- Grade Unit
- g/t
- Contained Metal
- 120000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Nyam zone also has a notable Inferred resource with a moderate grade, contributing to the project's overall potential.
Positive factors
- Adds to the overall resource potential of the Nyam zone with a moderate grade.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.68”
Context: 5,471,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 5447000Grade: 0.52Grade Unit: g/tContained Metal: 92000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:05fcfeb79e26c2d051a2
- Deposit or zone
- Kwakyekrom
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 5447000
- Grade
- 0.52
- Grade Unit
- g/t
- Contained Metal
- 92000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Kwakyekrom zone contributes to the Inferred resource, but with lower confidence and a grade at the lower end of the weak threshold.
Positive factors
- Adds to the overall resource potential of the Kwakyekrom zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.52 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.52”
Context: 5,447,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 1156000Grade: 0.52Grade Unit: g/tContained Metal: 19000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:1bb6c0b382722bf2aac4
- Deposit or zone
- Kwakyekrom
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 1156000
- Grade
- 0.52
- Grade Unit
- g/t
- Contained Metal
- 19000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: A smaller Inferred resource for Kwakyekrom, contributing to the overall potential but with lower confidence and grade.
Positive factors
- Adds to the overall resource potential of the Kwakyekrom zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.52 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.52”
Context: 1,156,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 83615000Grade: 0.56Grade Unit: g/tContained Metal: 1502000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:245078ccf2df3221769f
- Deposit or zone
- Project Total
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 83615000
- Grade
- 0.56
- Grade Unit
- g/t
- Contained Metal
- 1502000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The total Indicated resource is a major positive, providing a robust base for economic studies and future development.
Positive factors
- Total Indicated resource of 1.5 million ounces represents a significant increase and strong foundation for PFS.
- Grade of 0.56 g/t Au is within the weak category for open-pit gold, but for a large tonnage.
Evidence · table
“0.56”
Context: 83,615,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 40111000Grade: 0.49Grade Unit: g/tContained Metal: 626000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:4601b277e5c3937854bf
- Deposit or zone
- Project Total
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 40111000
- Grade
- 0.49
- Grade Unit
- g/t
- Contained Metal
- 626000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The substantial Inferred resource provides significant upside potential, though with lower confidence and a grade within the weak open-pit category.
Positive factors
- Adds significant ounces to the overall resource potential, indicating future growth opportunities.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.49 g/t Au is within the weak category for open-pit gold.
Evidence · table
“0.49”
Context: 40,111,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 85619000Grade: 0.55Grade Unit: g/tContained Metal: 1526000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:47040a648029c6b69fbc
- Deposit or zone
- Project Total (Gold Price Sensitivity)
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 85619000
- Grade
- 0.55
- Grade Unit
- g/t
- Contained Metal
- 1526000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Indicated resource shows positive sensitivity to a higher gold price, increasing contained ounces.
Positive factors
- Shows increased contained ounces at a higher gold price, indicating sensitivity to market conditions.
Evidence · table
“0.55”
Context: 85,619,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 83615000Grade: 0.56Grade Unit: g/tContained Metal: 1502000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:5a0d8346d32e7ecd5733
- Deposit or zone
- Project Total (Gold Price Sensitivity)
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 83615000
- Grade
- 0.56
- Grade Unit
- g/t
- Contained Metal
- 1502000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The base case Indicated resource at US$3,200 gold price is a key positive for the project's economic viability.
Positive factors
- This is the base case Indicated resource, forming the foundation for the PFS.
Evidence · table
“0.56”
Context: 83,615,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 80633000Grade: 0.57Grade Unit: g/tContained Metal: 1483000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:a275e32ef696d1533cd4
- Deposit or zone
- Project Total (Gold Price Sensitivity)
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 80633000
- Grade
- 0.57
- Grade Unit
- g/t
- Contained Metal
- 1483000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Indicated resource remains substantial even at a lower gold price, indicating resilience.
Positive factors
- Demonstrates robust contained ounces even at a lower gold price.
Evidence · table
“0.57”
Context: 80,633,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 42148000Grade: 0.48Grade Unit: g/tContained Metal: 648000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:39d6fbadbeb9da591ef7
- Deposit or zone
- Project Total (Gold Price Sensitivity)
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 42148000
- Grade
- 0.48
- Grade Unit
- g/t
- Contained Metal
- 648000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Inferred resource also shows an increase in contained ounces at a higher gold price, indicating potential upside.
Positive factors
- Inferred resource shows positive sensitivity to a higher gold price.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.48”
Context: 42,148,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 40111000Grade: 0.49Grade Unit: g/tContained Metal: 626000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:ab7e2e5961467c258005
- Deposit or zone
- Project Total (Gold Price Sensitivity)
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 40111000
- Grade
- 0.49
- Grade Unit
- g/t
- Contained Metal
- 626000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The base case Inferred resource at US$3,200 gold price provides significant potential for future conversion.
Positive factors
- This is the base case Inferred resource, contributing to the project's overall potential.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.49”
Context: 40,111,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 37496000Grade: 0.5Grade Unit: g/tContained Metal: 603000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:e033e84ddb1f158a91f4
- Deposit or zone
- Project Total (Gold Price Sensitivity)
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 37496000
- Grade
- 0.5
- Grade Unit
- g/t
- Contained Metal
- 603000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Inferred resource shows resilience to a lower gold price, maintaining significant contained ounces.
Positive factors
- Inferred resource remains robust even at a lower gold price.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.50”
Context: 37,496,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 19924000Grade: 0.45Grade Unit: g/tContained Metal: 286000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:4652e956402c6023a29d
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- indicated
- Tonnes
- 19924000
- Grade
- 0.45
- Grade Unit
- g/t
- Contained Metal
- 286000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The oxide portion of the Indicated resource is substantial, offering potential for lower-cost processing, though with a lower grade.
Positive factors
- Significant Indicated resource in the oxide material, which is typically easier to process.
Negative factors
- Grade of 0.45 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.45”
Context: 19,924,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 26264000Grade: 0.49Grade Unit: g/tContained Metal: 415000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:5d1b7a6dc312e214b1d9
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- indicated
- Tonnes
- 26264000
- Grade
- 0.49
- Grade Unit
- g/t
- Contained Metal
- 415000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The transition material contributes significantly to the Indicated resource, with a grade within the weak open-pit category.
Positive factors
- Substantial Indicated resource in the transition material.
Negative factors
- Grade of 0.49 g/t Au is within the weak category for open-pit gold.
Evidence · table
“0.49”
Context: 26,264,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 37427000Grade: 0.67Grade Unit: g/tContained Metal: 801000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:11e4b028e9876401134e
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- indicated
- Tonnes
- 37427000
- Grade
- 0.67
- Grade Unit
- g/t
- Contained Metal
- 801000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The fresh material holds the largest portion of Indicated contained gold, with a moderate grade, indicating deeper potential.
Positive factors
- Largest Indicated resource by contained ounces in the fresh material, with a higher grade.
- Grade of 0.67 g/t Au is moderate for an open-pit gold deposit.
Evidence · table
“0.67”
Context: 37,427,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 83615000Grade: 0.56Grade Unit: g/tContained Metal: 1502000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:245078ccf2df3221769f
- Deposit or zone
- Project Total
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 83615000
- Grade
- 0.56
- Grade Unit
- g/t
- Contained Metal
- 1502000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The total Indicated resource is a major positive, providing a robust base for economic studies and future development.
Positive factors
- Total Indicated resource of 1.5 million ounces represents a significant increase and strong foundation for PFS.
- Grade of 0.56 g/t Au is within the weak category for open-pit gold, but for a large tonnage.
Evidence · table
“0.56”
Context: 83,615,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 9139000Grade: 0.45Grade Unit: g/tContained Metal: 132000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:eaf4f4ff50703129b41a
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- inferred
- Tonnes
- 9139000
- Grade
- 0.45
- Grade Unit
- g/t
- Contained Metal
- 132000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The oxide portion of the Inferred resource contributes to the overall potential, but with lower confidence and grade.
Positive factors
- Adds to the overall Inferred resource in the oxide material.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.45 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.45”
Context: 9,139,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 12829000Grade: 0.38Grade Unit: g/tContained Metal: 156000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:cd3191d0d3b9c43bbd27
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- inferred
- Tonnes
- 12829000
- Grade
- 0.38
- Grade Unit
- g/t
- Contained Metal
- 156000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The transition portion of the Inferred resource contributes to the overall potential, but with lower confidence and a grade below the weak threshold.
Positive factors
- Adds to the overall Inferred resource in the transition material.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.38 g/t Au is below the weak category for open-pit gold.
Evidence · table
“0.38”
Context: 12,829,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 18144000Grade: 0.58Grade Unit: g/tContained Metal: 338000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:a2dcb058fcf626ed8690
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- inferred
- Tonnes
- 18144000
- Grade
- 0.58
- Grade Unit
- g/t
- Contained Metal
- 338000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The fresh portion of the Inferred resource contributes significantly to the overall potential, with a grade within the weak open-pit category.
Positive factors
- Adds significant contained ounces to the overall Inferred resource in the fresh material.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.58 g/t Au is within the weak category for open-pit gold.
Evidence · table
“0.58”
Context: 18,144,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 40111000Grade: 0.49Grade Unit: g/tContained Metal: 626000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:4601b277e5c3937854bf
- Deposit or zone
- Project Total
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 40111000
- Grade
- 0.49
- Grade Unit
- g/t
- Contained Metal
- 626000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The substantial Inferred resource provides significant upside potential, though with lower confidence and a grade within the weak open-pit category.
Positive factors
- Adds significant ounces to the overall resource potential, indicating future growth opportunities.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.49 g/t Au is within the weak category for open-pit gold.
Evidence · table
“0.49”
Context: 40,111,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 15301000Grade: 0.38Grade Unit: g/tContained Metal: 187000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:31d65bd71811b592bd28
- Deposit or zone
- Sewum
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- indicated
- Tonnes
- 15301000
- Grade
- 0.38
- Grade Unit
- g/t
- Contained Metal
- 187000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Sewum zone contributes a large oxide Indicated resource, but with a grade below the weak open-pit threshold.
Positive factors
- Significant Indicated resource in the oxide material for the Sewum zone.
Negative factors
- Grade of 0.38 g/t Au is below the weak category for open-pit gold.
Evidence · table
“0.38”
Context: 15,301,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 2725000Grade: 0.74Grade Unit: g/tContained Metal: 65000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:74dc6e9efd7cd8f91f82
- Deposit or zone
- Boin
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- indicated
- Tonnes
- 2725000
- Grade
- 0.74
- Grade Unit
- g/t
- Contained Metal
- 65000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Boin zone provides a moderate-grade oxide Indicated resource, contributing to the project's overall confidence.
Positive factors
- Good Indicated resource in the oxide material for the Boin zone.
- Grade of 0.74 g/t Au is moderate for an open-pit gold deposit.
Evidence · table
“0.74”
Context: 2,725,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 1181000Grade: 0.65Grade Unit: g/tContained Metal: 25000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:45d3d138a28927bc8138
- Deposit or zone
- Nyam
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- indicated
- Tonnes
- 1181000
- Grade
- 0.65
- Grade Unit
- g/t
- Contained Metal
- 25000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Nyam zone contributes a moderate-grade oxide Indicated resource, adding to the project's overall potential.
Positive factors
- Indicated resource in the oxide material for the Nyam zone with a moderate grade.
Evidence · table
“0.65”
Context: 1,181,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 717000Grade: 0.4Grade Unit: g/tContained Metal: 9000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:92ce09f37ade1a393f9f
- Deposit or zone
- Kwakyekrom
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- indicated
- Tonnes
- 717000
- Grade
- 0.4
- Grade Unit
- g/t
- Contained Metal
- 9000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Kwakyekrom zone contributes a small oxide Indicated resource, with a grade at the lower end of the weak open-pit threshold.
Positive factors
- Adds to the Indicated resource in the oxide material for the Kwakyekrom zone.
Negative factors
- Grade of 0.40 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.40”
Context: 717,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 14295000Grade: 0.4Grade Unit: g/tContained Metal: 184000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:36aadcf398a88bf69780
- Deposit or zone
- Sewum
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- indicated
- Tonnes
- 14295000
- Grade
- 0.4
- Grade Unit
- g/t
- Contained Metal
- 184000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Sewum zone contributes a large transition Indicated resource, but with a grade at the lower end of the weak open-pit threshold.
Positive factors
- Significant Indicated resource in the transition material for the Sewum zone.
Negative factors
- Grade of 0.40 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.40”
Context: 14,295,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 6688000Grade: 0.66Grade Unit: g/tContained Metal: 142000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:33e1182a20dd65eb4099
- Deposit or zone
- Boin
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- indicated
- Tonnes
- 6688000
- Grade
- 0.66
- Grade Unit
- g/t
- Contained Metal
- 142000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Boin zone provides a moderate-grade transition Indicated resource, contributing to the project's overall confidence.
Positive factors
- Good Indicated resource in the transition material for the Boin zone.
- Grade of 0.66 g/t Au is moderate for an open-pit gold deposit.
Evidence · table
“0.66”
Context: 6,688,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 3425000Grade: 0.59Grade Unit: g/tContained Metal: 65000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:cddf383fba799b974ce1
- Deposit or zone
- Nyam
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- indicated
- Tonnes
- 3425000
- Grade
- 0.59
- Grade Unit
- g/t
- Contained Metal
- 65000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Nyam zone contributes a moderate-grade transition Indicated resource, adding to the project's overall potential.
Positive factors
- Indicated resource in the transition material for the Nyam zone with a moderate grade.
Evidence · table
“0.59”
Context: 3,425,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 1856000Grade: 0.42Grade Unit: g/tContained Metal: 25000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:acc82747098cf3d49a34
- Deposit or zone
- Kwakyekrom
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- indicated
- Tonnes
- 1856000
- Grade
- 0.42
- Grade Unit
- g/t
- Contained Metal
- 25000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Kwakyekrom zone contributes a small transition Indicated resource, with a grade at the lower end of the weak open-pit threshold.
Positive factors
- Adds to the Indicated resource in the transition material for the Kwakyekrom zone.
Negative factors
- Grade of 0.42 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.42”
Context: 1,856,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 11637000Grade: 0.54Grade Unit: g/tContained Metal: 202000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:b5ec073d10c6ccd8dc24
- Deposit or zone
- Sewum
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- indicated
- Tonnes
- 11637000
- Grade
- 0.54
- Grade Unit
- g/t
- Contained Metal
- 202000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Sewum zone contributes a large fresh Indicated resource, with a grade within the weak open-pit category.
Positive factors
- Significant Indicated resource in the fresh material for the Sewum zone.
Negative factors
- Grade of 0.54 g/t Au is within the weak category for open-pit gold.
Evidence · table
“0.54”
Context: 11,637,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 14064000Grade: 0.76Grade Unit: g/tContained Metal: 344000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:9b91565554d544c92ac5
- Deposit or zone
- Boin
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- indicated
- Tonnes
- 14064000
- Grade
- 0.76
- Grade Unit
- g/t
- Contained Metal
- 344000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Boin zone provides a moderate-grade fresh Indicated resource, contributing to the project's overall confidence.
Positive factors
- Good Indicated resource in the fresh material for the Boin zone.
- Grade of 0.76 g/t Au is moderate for an open-pit gold deposit.
Evidence · table
“0.76”
Context: 14,064,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 8852000Grade: 0.7Grade Unit: g/tContained Metal: 198000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:4d3eb461481fb55db39b
- Deposit or zone
- Nyam
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- indicated
- Tonnes
- 8852000
- Grade
- 0.7
- Grade Unit
- g/t
- Contained Metal
- 198000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Nyam zone contributes a moderate-grade fresh Indicated resource, adding to the project's overall potential.
Positive factors
- Indicated resource in the fresh material for the Nyam zone with a moderate grade.
Evidence · table
“0.70”
Context: 8,852,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedEnchi Gold Project · goldTonnes: 2874000Grade: 0.62Grade Unit: g/tContained Metal: 57000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:d6571cd72b67d508f9bd
- Deposit or zone
- Kwakyekrom
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- indicated
- Tonnes
- 2874000
- Grade
- 0.62
- Grade Unit
- g/t
- Contained Metal
- 57000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Kwakyekrom zone contributes a moderate-grade fresh Indicated resource, adding to the project's overall potential.
Positive factors
- Adds to the Indicated resource in the fresh material for the Kwakyekrom zone with a moderate grade.
Evidence · table
“0.62”
Context: 2,874,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 7295000Grade: 0.45Grade Unit: g/tContained Metal: 106000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:fed337e20e3b8db9d880
- Deposit or zone
- Sewum
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- inferred
- Tonnes
- 7295000
- Grade
- 0.45
- Grade Unit
- g/t
- Contained Metal
- 106000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Sewum zone contributes a large oxide Inferred resource, but with lower confidence and a grade at the lower end of the weak open-pit threshold.
Positive factors
- Adds to the Inferred resource in the oxide material for the Sewum zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.45 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.45”
Context: 7,295,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 998000Grade: 0.51Grade Unit: g/tContained Metal: 16000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:2d94af7fb7d8c1c8f397
- Deposit or zone
- Boin
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- inferred
- Tonnes
- 998000
- Grade
- 0.51
- Grade Unit
- g/t
- Contained Metal
- 16000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Boin zone contributes a small oxide Inferred resource, with lower confidence and a grade within the weak open-pit category.
Positive factors
- Adds to the Inferred resource in the oxide material for the Boin zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.51 g/t Au is within the weak category for open-pit gold.
Evidence · table
“0.51”
Context: 998,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 592000Grade: 0.41Grade Unit: g/tContained Metal: 8000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:5c81454eeacfe381702f
- Deposit or zone
- Nyam
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- inferred
- Tonnes
- 592000
- Grade
- 0.41
- Grade Unit
- g/t
- Contained Metal
- 8000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Nyam zone contributes a small oxide Inferred resource, with lower confidence and a grade at the lower end of the weak open-pit threshold.
Positive factors
- Adds to the Inferred resource in the oxide material for the Nyam zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.41 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.41”
Context: 592,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 253000Grade: 0.26Grade Unit: g/tContained Metal: 2000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:a5f50f51b82a1c7e7185
- Deposit or zone
- Kwakyekrom
- Mining method
- open_pit
- Material type
- oxide
Resource Data
- Category
- inferred
- Tonnes
- 253000
- Grade
- 0.26
- Grade Unit
- g/t
- Contained Metal
- 2000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Kwakyekrom zone contributes a very small oxide Inferred resource, with lower confidence and a grade below the weak open-pit threshold.
Positive factors
- Adds to the Inferred resource in the oxide material for the Kwakyekrom zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.26 g/t Au is below the weak category for open-pit gold.
Evidence · table
“0.26”
Context: 253,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 8326000Grade: 0.3Grade Unit: g/tContained Metal: 80000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:b9845b6f778029f66bce
- Deposit or zone
- Sewum
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- inferred
- Tonnes
- 8326000
- Grade
- 0.3
- Grade Unit
- g/t
- Contained Metal
- 80000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Sewum zone contributes a large transition Inferred resource, but with lower confidence and a grade below the weak open-pit threshold.
Positive factors
- Adds to the Inferred resource in the transition material for the Sewum zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.30 g/t Au is below the weak category for open-pit gold.
Evidence · table
“0.30”
Context: 8,326,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 3652000Grade: 0.55Grade Unit: g/tContained Metal: 65000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:b8092d0492625682d398
- Deposit or zone
- Boin
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- inferred
- Tonnes
- 3652000
- Grade
- 0.55
- Grade Unit
- g/t
- Contained Metal
- 65000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Boin zone contributes a moderate transition Inferred resource, with lower confidence and a grade within the weak open-pit category.
Positive factors
- Adds to the Inferred resource in the transition material for the Boin zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.55 g/t Au is within the weak category for open-pit gold.
Evidence · table
“0.55”
Context: 3,652,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 499000Grade: 0.49Grade Unit: g/tContained Metal: 8000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:dda3a37cfe773bee2aa2
- Deposit or zone
- Nyam
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- inferred
- Tonnes
- 499000
- Grade
- 0.49
- Grade Unit
- g/t
- Contained Metal
- 8000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Nyam zone contributes a small transition Inferred resource, with lower confidence and a grade within the weak open-pit category.
Positive factors
- Adds to the Inferred resource in the transition material for the Nyam zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.49 g/t Au is within the weak category for open-pit gold.
Evidence · table
“0.49”
Context: 499,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 352000Grade: 0.3Grade Unit: g/tContained Metal: 3000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:5538f186a25c4cc259bb
- Deposit or zone
- Kwakyekrom
- Mining method
- open_pit
- Material type
- transitional
Resource Data
- Category
- inferred
- Tonnes
- 352000
- Grade
- 0.3
- Grade Unit
- g/t
- Contained Metal
- 3000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Kwakyekrom zone contributes a very small transition Inferred resource, with lower confidence and a grade below the weak open-pit threshold.
Positive factors
- Adds to the Inferred resource in the transition material for the Kwakyekrom zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.30 g/t Au is below the weak category for open-pit gold.
Evidence · table
“0.30”
Context: 352,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 8625000Grade: 0.44Grade Unit: g/tContained Metal: 122000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:5a262ada2949243fd14a
- Deposit or zone
- Sewum
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- inferred
- Tonnes
- 8625000
- Grade
- 0.44
- Grade Unit
- g/t
- Contained Metal
- 122000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Sewum zone contributes a large fresh Inferred resource, but with lower confidence and a grade at the lower end of the weak open-pit threshold.
Positive factors
- Adds to the Inferred resource in the fresh material for the Sewum zone.
Negative factors
- Inferred category has lower geological confidence.
- Grade of 0.44 g/t Au is at the lower end of the weak category for open-pit gold.
Evidence · table
“0.44”
Context: 8,625,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 4587000Grade: 0.66Grade Unit: g/tContained Metal: 97000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:714ba0668ed74c699eaf
- Deposit or zone
- Boin
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- inferred
- Tonnes
- 4587000
- Grade
- 0.66
- Grade Unit
- g/t
- Contained Metal
- 97000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Boin zone contributes a moderate-grade fresh Inferred resource, with lower confidence but adding to the project's potential.
Positive factors
- Adds to the Inferred resource in the fresh material for the Boin zone with a moderate grade.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.66”
Context: 4,587,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 4380000Grade: 0.75Grade Unit: g/tContained Metal: 105000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:20aacee6139188335f82
- Deposit or zone
- Nyam
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- inferred
- Tonnes
- 4380000
- Grade
- 0.75
- Grade Unit
- g/t
- Contained Metal
- 105000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Nyam zone contributes a moderate-grade fresh Inferred resource, with lower confidence but adding to the project's potential.
Positive factors
- Adds to the Inferred resource in the fresh material for the Nyam zone with a moderate grade.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.75”
Context: 4,380,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredEnchi Gold Project · goldTonnes: 551000Grade: 0.78Grade Unit: g/tContained Metal: 14000Contained Unit: ozView all detailsHide details
Identity
- Project
- Enchi Gold Project
- Commodity
- gold
- Region
- ghana
- Reported Region
- Ghana
- Ticker
- NCAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Ryan Wilson, Matthew Halliday, Schadrac Ibrango
- Resource group id
- resource:4954b513fd5cd5c65814
- Deposit or zone
- Kwakyekrom
- Mining method
- open_pit
- Material type
- fresh
Resource Data
- Category
- inferred
- Tonnes
- 551000
- Grade
- 0.78
- Grade Unit
- g/t
- Contained Metal
- 14000
- Contained Unit
- oz
- Cutoff Grade
- 0.1
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-10-06
Metal Equivalent
- Assumptions Disclosed
- No
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-18T00:00:00.000Z
Reasoning: The Kwakyekrom zone contributes a small fresh Inferred resource, with lower confidence but adding to the project's potential.
Positive factors
- Adds to the Inferred resource in the fresh material for the Kwakyekrom zone with a moderate grade.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.78”
Context: 551,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.