Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Recent drill results from Newcore Gold’s (TSXV: NCAU; OTCQX: NCAUF) Enchi project in Ghana underlines the company’s district-scale exploration opportunity in Africa’s top gold producing nation, president and CEO Luke Alexander tells The Northern Miner.
On June 1, Newcore reported drilling at the Boin gold deposit, one of three resource-stage deposits comprising Enchi, had intersected 0.9 grams gold per tonne over 69 metres starting from 55 metres, including 2.06 grams gold per tonne over 12 metres from 61 metres, and 3.5 grams gold per tonne over 4 metres from 39 metres downhole.
These results are from a series of exploration holes designed to expand the gold mineralisation outside of the previously tested area by 400 metres to the north and one km to the south of the known deposit.
According to Alexander, these results have expanded the drill-tested strike extent at Boin to over four kilometres.
