Enchi gold project, Ghana

23rd July 2021 By: Sheila Barradas - Creamer Media Research Coordinator & Senior Deputy Editor

Enchi gold project, Ghana

Name of the Project
Enchi gold project.

Location
Aowin district of Western Region, in south-west Ghana.

Project Owner/s
Newcore Gold.

Project Description
A preliminary economic assessment (PEA) has shown Enchi to be an economically robust, low-capital intensity, heap-leach project.

The project has an inferred mineral resource of 70.4-million tonnes grading 0.62 g/t, containing 1.4-million ounces of gold.

The updated PEA envisages an openpit, heap-leach operation, with a low strip ratio, using contract mining and processing 6.6-million tonnes a year and producing 983 296 oz over the 11-year mine life.

Mining will occur in a series of ten openpits across the Sewum, Boin, Nyam and Kwakyekrom deposits, with depth ranging from 20 m to 180 m.

The heap-leach facility will be built in three phases, with excess capacity available.

Infrastructure for the project includes mine dry facilities, equipment, a maintenance workshop, refuelling facilities, an explosives magazine, office administration facilities, an assay laboratory, and warehouse facilities.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $333-million and an internal rate of return of 54% at a gold price of $1 650/oz, with a payback of 2.3 years.

Capital Expenditure
$97-million.

Planned Start/End Date
Construction is expected to take 15 months.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
BBA (PEA).

Contact Details for Project Information
Newcore Gold, tel + 1 604 484 4399 or email info@newcoregold.com.