# Newcore Gold Files Technical Report for the Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be Original source: https://money.tmx.com/en/quote/NCAUF/news/4632402435090463/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo Publisher: tmx Original announcement: 2026-05-01T23:37:42.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Newcore Gold Ltd. - Ticker: NCAUF - Exchange: TSX - Region: Ghana - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-12 14:57:59 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Newcore Gold has released an updated Mineral Resource Estimate for the Enchi Gold Project in Ghana, expanding the Indicated resource to 83.6 million tonnes at 0.56 g/t Au \(1.50 Moz\). The resource includes four pit-constrained deposits and will form the basis for an ongoing Pre-Feasibility Study. Reasoning: The update significantly expands the Indicated resource to 1.5 Moz, providing a robust basis for the upcoming PFS. - Positive factor: Significant Indicated resource growth \(more than doubled\) - Positive factor: Large scale multi-million-ounce potential - Positive factor: NI 43-101 compliant with multiple QPs named - Positive factor: Open at depth and along strike - Negative factor: Low average grade \(0.56 g/t Au Indicated\) Facts used in scoring: 8 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with NI 43-101 Standards of Disclosure. Evidence · text > prepared in accordance with National Instrument 43-101 Standards **QP/CP Signed** Polarity: positive Definition: 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: Multiple Qualified Persons \(Ryan Wilson, Matthew Halliday, Schadrac Ibrango\) are named as responsible for the estimate. Evidence · text > prepared by Ryan Wilson, P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The announcement is for an updated Mineral Resource Estimate. Evidence · text > Updated Mineral Resource Estimate ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be#fact-resource-facts-0) Enchi Gold Project · gold #### Identity - Project: Enchi Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: NCAUF #### Resource scope - Estimate type: resource - Effective date: 2025-10-06T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Ryan Wilson, Matthew Halliday, Schadrac Ibrango - Resource group id: resource:798bb330a2bcd047a49b - Deposit or zone: Boin - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 23477000 - Grade: 0.73 - Grade Unit: g/t - Contained Metal: 550000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-10-06 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Strong grade for the Boin zone. - Positive factor: High grade relative to project average Evidence · table > 0.73 Context: 23,477,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be#fact-resource-facts-1) Enchi Gold Project · gold #### Identity - Project: Enchi Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: NCAUF #### Resource scope - Estimate type: resource - Effective date: 2025-10-06T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Ryan Wilson, Matthew Halliday, Schadrac Ibrango - Resource group id: resource:d518205c6d40130c6211 - Deposit or zone: Boin - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 9237000 - Grade: 0.6 - Grade Unit: g/t - Contained Metal: 178000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-10-06 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Standard inferred resource component. - Positive factor: Good grade for inferred category - Negative factor: Inferred confidence Evidence · table > 0.60 Context: 9,237,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be#fact-resource-facts-2) Enchi Gold Project · gold #### Identity - Project: Enchi Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: NCAUF #### Resource scope - Estimate type: resource - Effective date: 2025-10-06T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Ryan Wilson, Matthew Halliday, Schadrac Ibrango - Resource group id: resource:af94a76fbeba5431a83b - Deposit or zone: Sewum - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 41233000 - Grade: 0.43 - Grade Unit: g/t - Contained Metal: 573000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-10-06 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Major component of the indicated resource. - Positive factor: Large tonnage Evidence · table > 0.43 Context: 41,233,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be#fact-resource-facts-3) Enchi Gold Project · gold #### Identity - Project: Enchi Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: NCAUF #### Resource scope - Estimate type: resource - Effective date: 2025-10-06T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Ryan Wilson, Matthew Halliday, Schadrac Ibrango - Resource group id: resource:101402bd9045e0982224 - Deposit or zone: Sewum - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 24246000 - Grade: 0.39 - Grade Unit: g/t - Contained Metal: 308000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-10-06 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Large inferred component. - Positive factor: Significant tonnage - Negative factor: Inferred confidence Evidence · table > 0.39 Context: 24,246,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be#fact-resource-facts-4) Enchi Gold Project · gold #### Identity - Project: Enchi Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: NCAUF #### Resource scope - Estimate type: resource - Effective date: 2025-10-06T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Ryan Wilson, Matthew Halliday, Schadrac Ibrango - Resource group id: resource:f3aedbe81a939669a5ac - Deposit or zone: Nyam - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 13458000 - Grade: 0.66 - Grade Unit: g/t - Contained Metal: 287000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-10-06 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Solid indicated resource. - Positive factor: Good grade Evidence · table > 0.66 Context: 13,458,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be#fact-resource-facts-5) Enchi Gold Project · gold #### Identity - Project: Enchi Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: NCAUF #### Resource scope - Estimate type: resource - Effective date: 2025-10-06T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Ryan Wilson, Matthew Halliday, Schadrac Ibrango - Resource group id: resource:9afc207dcdb367f11663 - Deposit or zone: Nyam - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 5471000 - Grade: 0.68 - Grade Unit: g/t - Contained Metal: 120000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-10-06 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: High grade in Nyam inferred zone. - Positive factor: High grade for inferred Evidence · table > 0.68 Context: 5,471,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be#fact-resource-facts-6) Enchi Gold Project · gold #### Identity - Project: Enchi Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: NCAUF #### Resource scope - Estimate type: resource - Effective date: 2025-10-06T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Ryan Wilson, Matthew Halliday, Schadrac Ibrango - Resource group id: resource:07200cd8702f621935b0 - Deposit or zone: Kwakyekrom - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 5447000 - Grade: 0.52 - Grade Unit: g/t - Contained Metal: 92000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-10-06 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Smaller indicated component. Evidence · table > 0.52 Context: 5,447,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--a84ec098-cd54-4960-8ee9-a34086b791be#fact-resource-facts-7) Enchi Gold Project · gold #### Identity - Project: Enchi Gold Project - Commodity: gold - Region: ghana - Reported Region: Ghana - Ticker: NCAUF #### Resource scope - Estimate type: resource - Effective date: 2025-10-06T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Ryan Wilson, Matthew Halliday, Schadrac Ibrango - Resource group id: resource:039fb77e74f33f3ce5fc - Deposit or zone: Kwakyekrom - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1156000 - Grade: 0.52 - Grade Unit: g/t - Contained Metal: 19000 - Contained Unit: oz #### Prior Estimate - Resource Date: 2025-10-06 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Small inferred component. Evidence · table > 0.52 Context: 1,156,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PFS-Supporting** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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.