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Newcore Gold Completes Updated Preliminary Economic Assessment Study for Enchi Gold Project in Ghana

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Newcore Gold Engages Consultants for Enchi Gold Project's Updated PEA Study

Newcore Gold Ltd. has announced its engagement of independent engineering consultants, Lycopodium, Micon International Limited, and SEMS Exploration, to prepare an updated National Instrument 43-101 Preliminary Economic Assessment (PEA) study for the Enchi Gold Project in Ghana. The study aims to incorporate the current Mineral Resource Estimate, updated cost estimates, and significant metallurgical testwork completed on the project. The comprehensive study will cover various aspects, including process plant and infrastructure evaluation, mine design, environmental services, and mineral resource assessment. Newcore Gold's President and CEO, Luke Alexander, emphasizes the importance of updating the PEA to advance the development of the Enchi Gold Project and showcase its potential as an open pit, heap leach operation. The project's completion and results are targeted for the first half of 2024.

Impact of Newcore Gold's Updated PEA Study on New Businesses

Role of Independent Consultants

Newcore Gold's decision to engage independent consultants for the Enchi Gold Project's updated PEA study highlights the value of external expertise in assessing a project's economic viability. For new businesses, particularly in the mining and exploration sector, this underlines the importance of leveraging external expertise for comprehensive project evaluation.
Importance of Comprehensive Assessment
The study's comprehensive nature, covering process plant and infrastructure evaluation, mine design, environmental services, and mineral resource assessment, underscores the multifaceted approach required in project development. This sends a clear message to new businesses about the need for thorough project assessments that consider all relevant factors.

Updating PEA to Showcase Potential

CEO Luke Alexander's emphasis on updating the PEA to advance the project and showcase its potential as an open pit, heap leach operation offers a valuable lesson to new businesses. Regularly updating project assessments not only aids in project development but also serves as a powerful tool to showcase a project's potential to stakeholders and investors. In conclusion, Newcore Gold's approach to the Enchi Gold Project offers key insights for new businesses on the importance of comprehensive project assessments, the value of external expertise, and the strategic use of project updates.
Story First Published at: https://financialpost.com/globe-newswire/newcore-gold-commissions-updated-preliminary-economic-assessment-study-for-the-enchi-gold-project-ghana
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