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Ghana
Enchi Project

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 Location:
14 Km SE from Enchi, Ghana

  Project Contacts:
Suite 413 - 595 Burrard Street
Vancouver
British Columbia, Canada
V7X 1J1
Phone  ...  Subscription required
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life11 years (as of Jan 1, 2021)
Latest NewsNewcore Gold Announces Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana     March 7, 2023


Owners

Source: p. 269
CompanyInterestOwnership
Newcore Gold Ltd. 100 % Indirect
The Property is currently held 100% by Newcore. The Government of Ghana is entitled to a 10% free carried interest in the Project

Contractors

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Deposit Type

  • Mesothermal
  • Vein / narrow vein
  • Saprolite


Summary:

The Project’s mineralized zones have the characteristics of epigenetic, mesothermal quartz vein style gold deposits with an overlying gold-bearing saprolite. This type of mineralization is the most important type of gold occurrence in West Africa and is commonly referred to as the Ashanti-type.

Sewum Zone
The Sewum West and South prospects are found along the eastern contact of a thrust-bounded volcanic sliver, outcropping 6 km to the east of the Boin Zone on the NS. The gold mineralization is associated with late D2 to D4 deformation phases. It is structurally controlled within, and adjacent to, late graphitic faults focused on the margins of poly-phase quartz veins within faults. The veins developed along the axial planes of hinges and limbs of earlier hanging wall D3 drag folds ± intrusives.

The host rocks at Sewum include interbedded carbonaceous siltstone and sandstone (turbidite). The sediments have been regionally deformed to greenschist facies, are steeply dipping, and typically strike north-northeast (30º) parallel to the regional structural grain. A steeply dipping dolerite dyke 3 km long and up to 500 m wide has been intersected in the drilling and acts as an important host to gold mineralization in the Sewum area.

Three styles of mineralization have been identified at Sewum:
- Disseminated arsenopyrite associated with quartz veining and silicification in sheared sediment, e.g. Sewum Shear Zone.
- Quartz – sericite ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Project contains multiple deposits that will be mined using conventional open pit mining methods (drill, blast, load and haul) with the mining operations being outsourced to a mining contractor. Newcore will provide supporting technical services and mine management.

The Project considers the mineral resources that have been estimated for the Sewum, Boin, Nyam and Kwakyekrom deposits. Mining will be carried out in a series of 10 open pits across the four deposits. Sewum and Boin were split into four mining areas each. Drilling and blasting will be carried out on 10-m benches. The oxide formation will be free-dug, thus not requiring drilling and blasting. For the transition formation, it has been assumed that 50% of the material will be free-dug, while 50% will require drilling and blasting. All of the fresh rock will be drilled and blasted. Mining will be carried out in 5-m flitches using a hydraulic excavator in a backhoe configuration. The excavator will sit on top of the production bench and the 64-tonne haul trucks will be loaded on the level below.

The mining sequence will begin with the clearing, removal and stockpiling of any usable soil, and the construction of pit protection berms and diversion drains. Non-economic oxide material will be hauled to oxide waste rock facilities, while the non-economic transition and fresh rock will be hauled to additional waste rock facilities.

At Sewum and Boin, the mineralized material mined will be ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold oz 89,391983,296
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily mining rate  ......  Subscription required
Annual mining capacity  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Annual production capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
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Reserves at June 8, 2021:
A $1,650/ounce gold price, open pit with heap leach operation was used to determine the cut-off grade of 0.2 g/t Au.

CategoryTonnage CommodityGradeContained Metal
Inferred 70,411,000 t Gold 0.62 g/t 1,414,600 oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required&nbs
Total cash costs Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
All-in costs Gold USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t milled) USD 6.16 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 361.8
Site services costs $M USD 5.2
Refining costs $M USD  ......  Subscription required
G&A costs $M USD 116.3
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of June 8, 2021:
HME TypeSizeQuantityLeased or
Contractor
Crane ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 8, 2021
....................... Subscription required ....................... Subscription required Subscription required Jun 8, 2021
....................... Subscription required ....................... Subscription required Subscription required Jun 8, 2021
....................... Subscription required ....................... Subscription required Subscription required Nov 1, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

News:

NewsDate
Newcore Gold Announces Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana March 7, 2023

Subscription required - Subscription is required.

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