High-Grade Gold Near Surface at Newcore’s Boin Deposit

Trevor Hall (0:18)

All right, moving along with our day here of corporate updates and into the Beaver Creek Precious Metals Summit next week.

We're going to welcome back Newcore Gold here. They do trade on the Venture Exchange with NCAU and on the OTCQX with NCAUF. The company did publish new drill results this morning out of the Enchi Gold Project, specifically out of the Boyne Gold Deposit. With an intercept that's one of the widest and highest grade thickness zones ever encountered at Boyne, we're actually going to head over to, well, the brains of the company here, the geologists themselves, Mr. Greg Smith, explorationist at heart. Greg, good morning. Welcome back to the podcast. How have you been?

Greg Smith (1:00)

I've been good.

I was actually in country, on site for about a month and a half. Just got back here to Vancouver, and yeah, great to be on with you again.

Trevor Hall (1:11)

Yeah.

Happy to have you back as always. Tell me about your time in country there on site, how the drill program was kind of moving along. It sounds like these drill results, you probably saw those drills in action at that point, what is now these results. But how did you find the project?

Greg Smith (1:29)

It's great. It's great. Yeah, we're really busy. I mean, we've been drilling on all three of our largest deposits at Boyne and Seum and Nyam, and we've released a bunch of results already this year. This is the next set of results. We're really pleased at what we're seeing at Boyne. It's our second largest deposit, but our highest grade deposit, and we're seeing that confirmed in some of the deeper drilling we did earlier in the year, and now with some of this RC infield drilling that we're doing. And as you mentioned, this includes one of the best grade thickness intervals and certainly the best one in terms of a wider zone that we've had at Boyne, and we're really pleased with that.

Trevor Hall (2:11)

Okay. So let's do maybe talk about that highlight hole. That was hole 411, 69 meters of two and a half grams per tonne gold, starting at 58 meters depth. But within that 69 meters, there was an interval of 24 meters with a higher grade area of 6.41 grams per tonne gold. And that actually almost starts right at where you started, that 59 meter level depth here, Greg. Pretty unique at all. Tell me about the continuity of this higher grade, you know, shallower surface. Is this something new, or have you been kind of tracking this along the Boyne deposit?

Greg Smith (2:50)

We have been tracking, as I mentioned, Boyne is our highest grade deposit. So, you know, this, again, is definitely one of the better holes, but we've got a group of holes that have higher than that 100 gram thickness interval, which is kind of the pinnacle that you always like to exceed. But then we've got a big set as well that are between 50 and 100 So, you know, we see some nice wide widths at Boyne. This is not our widest interval. We've got some that are over 100 meters of continuous mineralization. But this has that combination of both good width and excellent grade. And as you mentioned, some of the better grades are towards the top of the interval, which is nice. It's in the oxidized portion of the deposit. It's, you know, within, vertically, within probably 70, 80 meters of surface. So this is something that we'd look to bring early on into an updated mine plan. And that's part of the reasoning behind doing some of this infill, is to better delineate some of this higher grade material and give us the ability to, again, especially this material that's close to surface, bring it earlier into the mine plan when we do the updated work for the feasibility study.

Trevor Hall (4:10)

That intersection was within the reserve pitch shell at Boyne. Was this more of an infill style hole here, Greg?

Greg Smith (4:17)

Yeah, absolutely. So this is an infill hole. This is the, you know, there was some decent width between the existing holes. So we, you know, just to be sure, if you will, we needed to put a hole in there. And as well, as I mentioned, we've got, you know, with all of the drilling that we've done now, we've got areas where we have to find some better than average grades. This is going to be the material that's early in the mine plan. So we really want to make sure that we've got a good handle on the distribution of the grades, you know, within what is one of our highest grade zones.