# Newcore Gold Files Technical Report for the Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa Original source: https://money.tmx.com/en/quote/NCAU/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: NCAU - Exchange: TSX - Region: Ghana - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-08-20 23:31:30 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, significantly expanding the Indicated resource to 83.6 million tonnes at 0.56 g/t Au \(1.502 Moz Au\). The resource includes four pit-constrained deposits and is being used as the basis for an ongoing Pre-Feasibility Study. Reasoning: The update represents a massive expansion of the Indicated resource \(more than doubled\) and establishes a multi-million ounce gold project with significant growth potential. - Positive factor: Significant tonnage and grade growth - Positive factor: Indicated resource more than doubled - Positive factor: Large contained gold ounces - Positive factor: Open at depth and strike - Negative factor: High proportion of Inferred resource Facts used in scoring: 10 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The Indicated Mineral Resource more than doubled to 83.6 million tonnes. Evidence · text > More than doubled the Indicated Mineral Resource to 1,502,000 ounces gold at an average grade of 0.56 g/t Au within 83.6 million tonnes. **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 was prepared in accordance with NI 43-101 standards. Evidence · text > prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects \("NI 43-101"\) **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: Independent qualified persons \(Ryan Wilson, Matthew Halliday, Schadrac Ibrango\) are named and signed off. Evidence · text > The mineral resource estimate was prepared by Ryan Wilson, P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo of DRA Americas Inc. These individuals are independent qualified persons \("QP"\) **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the resource \(40.1 Mt\) is in the Inferred category. Evidence · text > along with an Inferred Mineral Resource of 40.1 million tonnes **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The release discloses open pit cut-off grades ranging from 0.1 to 0.2 g/t Au. Evidence · text > Open pit cut-off grades varied from 0.1 to 0.2 g/t Au ## Extracted facts Stored fact records: 10. Some facts used in scoring do not have a stored record. ## Resource Estimates (10) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-0) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: indicated - Tonnes: 23477000 - Grade: 0.73 - Grade Unit: g/t - Contained Metal: 550000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Boin Indicated zone shows above-average grade for the project. - Positive factor: High grade for the project average Evidence · table > 0.73 Context: 23,477,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-1) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: inferred - Tonnes: 9237000 - Grade: 0.6 - Grade Unit: g/t - Contained Metal: 178000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Inferred resource provides potential for growth but lacks geological confidence. - Negative factor: Inferred category Evidence · table > 0.60 Context: 9,237,000 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-2) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: indicated - Tonnes: 41233000 - Grade: 0.43 - Grade Unit: g/t - Contained Metal: 573000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Sewum Indicated zone provides significant tonnage contribution. - Positive factor: Large tonnage Evidence · table > 0.43 Context: 41,233,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-3) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: inferred - Tonnes: 24246000 - Grade: 0.39 - Grade Unit: g/t - Contained Metal: 308000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Large Inferred component in Sewum zone. - Negative factor: Inferred category Evidence · table > 0.39 Context: 24,246,000 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-4) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: indicated - Tonnes: 13458000 - Grade: 0.66 - Grade Unit: g/t - Contained Metal: 287000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Nyam Indicated zone shows strong grade. - Positive factor: Strong grade Evidence · table > 0.66 Context: 13,458,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-5) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: inferred - Tonnes: 5471000 - Grade: 0.68 - Grade Unit: g/t - Contained Metal: 120000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Nyam Inferred zone has high grade relative to project average. - Positive factor: High grade for Inferred Evidence · table > 0.68 Context: 5,471,000 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-6) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: indicated - Tonnes: 5447000 - Grade: 0.52 - Grade Unit: g/t - Contained Metal: 92000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Kwakyekrom Indicated zone. Evidence · table > 0.52 Context: 5,447,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-7) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: inferred - Tonnes: 1156000 - Grade: 0.52 - Grade Unit: g/t - Contained Metal: 19000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Kwakyekrom Inferred zone. Evidence · table > 0.52 Context: 1,156,000 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-8) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: indicated - Tonnes: 83615000 - Grade: 0.56 - Grade Unit: g/t - Contained Metal: 1502000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Total Indicated resource represents a major expansion. - Positive factor: Significant scale - Positive factor: Indicated resource more than doubled Evidence · table > 0.56 Context: 83,615,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/newcore-gold-files-technical-report-for-the-updated-mineral-resource-estimate-fo--77d65a1b-7b09-480e-a46e-10de917a93fa#fact-resource-facts-9) gold #### Identity - Commodity: gold - Ticker: NCAU #### Resource Data - Category: inferred - Tonnes: 40111000 - Grade: 0.49 - Grade Unit: g/t - Contained Metal: 626000 - Contained Unit: ounces #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-01T00:00:00.000Z Reasoning: Total Inferred resource provides significant upside potential. - Positive factor: Large scale Inferred resource - Negative factor: Inferred category Evidence · table > 0.49 Context: 40,111,000 ## 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.