11:57 AM EST, 01/30/2025 (MT Newswires) -- (Updates shares.)

Newcore Gold ( NCAUF ) shares were last seen up 12% after the company on Thursday released additional results from a 10,000-meter drill program at the Enchi gold project in Ghana.

Results include 1.85 grams per tonne (g/t) gold over 62.0 meters and 0.75 g/t gold over 68.0 meters.

"These latest results from the drill program, focused on Sewum which is our largest deposit at Enchi, highlight the resource growth potential from near surface mineralization that is amenable to open pit mining and heap leach processing," said chief executive Luke Alexander. "Importantly, mineralization was encountered from surface, with results including higher-grade intervals above the average grade of the deposit as defined in our current mineral resource estimate."

The company added that the results prove the continuity of gold mineralization and potential for future resource growth.

"We are confident that with this drill program we will achieve our primary goal of improving the confidence level of the existing mineral resource estimate, an important next step in advancing Enchi towards a pre-feasibility study which we view as a value creating milestone for the company," Alexander added.

Newcore shares were last seen up $0.04 to $0.37 on the TSX Venture Exchange

Price: 0.36, Change: +0.04, Percent Change: +10.77