• Newcore Gold raises C$10.3 million via warrant exercises
• Funds to advance Enchi project pre-feasibility study
• Enchi hosts 1.7 million ounces in indicated, inferred resources

Canadian junior mining company Newcore Gold said on Monday, March 2, that it has raised C$10.3 million (about $7.5 million) through the exercise of warrants. The company will use the proceeds to fund ongoing development at its Enchi gold project in Ghana.

“The proceeds from the Warrant exercises, together with our existing cash-on-hand, position Newcore to continue advancing and de-risking our Enchi Gold Project toward completion of a Pre-Feasibility Study by the end of June 2026,” said President Luke Alexander. “In parallel, our ongoing 45,000-metre drill program is focused on exploration drilling to depth, further delineating the larger resource potential of the Project,” he added.

Wholly owned by Newcore, Enchi currently hosts 743,500 ounces of gold in indicated resources and 972,000 ounces in inferred resources. The company aims to grow and upgrade these resources as it advances the project toward a potential construction decision. The pre-feasibility study, expected this year, will mark a key milestone in that process by outlining the project’s preliminary economic parameters.

With gold prices holding above $5,300 per ounce at the start of the week, market conditions remain supportive. The strong price environment underpins Newcore’s plans, with the company already describing 2026 as a pivotal year for its operations in Ghana, Africa’s largest gold producer.

Aurel Sèdjro Houenou