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Unigold Inc.
Summary
| Project: | Neita | |
|---|---|---|
| Deposit: | Candelones | |
| Location: | Dominican Republic | |
| Commodities: | Gold | |
| Date: | 1/22/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-1-2020: Unigold Inc. announces an Exploration/Drilling Update report for its Candelones deposit at the Neita project. Drilling results incl. 20.00m @ 4.07g/t Au from 0.00m. Toronto, Ontario, Jan 22, 2020 – Unigold Inc. (“Unigold” or the “Company”) (TSX | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Wes Hanson (Internal) | |
| ABSTRACT: | Toronto, Ontario, Jan 22, 2020 – Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to announce the following results from 28 vertical drillholes completed in late 2019 that tested the oxide resource potential at its 100% owned Neita Concession in the Dominican Republic. In conjunction with historical drillholes, trenches and the 2018 test pit program, this drill program has confirmed that oxide mineralization extends over an area measuring approximately 800 meters in length and 150 meters in width to depths between 20 to 30 meters (Ref. Figure 1). The oxide appears to be open to the ENE and further exploration drilling is planned to evaluate the potential to expand the oxide footprint. Joe Hamilton, Chairman and CEO of Unigold notes: “Our results have confirmed that the oxide mineralization offers a minimum 800 meters of potential strike extent and measures between 150 to 200 meters in width. Intensely oxidized rock extends from surface to depths of 20 to 30 meters. Gold grades throughout the oxide zone are homogenous with few outliers, averaging between 0.75 to 0.95 g/t gold. Previous metallurgical results indicated recoveries in excess of 97% from oxide mineralization collected at the Candelones Main deposit. The 2012 mineral resource estimate included an inferred oxide resource of 112,000 ounces averaging 0.98 g/t Au with a low strip ratio. A test pit program in 2018 demonstrated that the oxide mineralization was free digging to depths of at least five meters, the physical limit of the equipment used during that program. We believe the oxide mineralization offers potential as starter pit, generating early cash flow while underground access is established into higher grade sulphide mineralization. We have collected sufficient material to complete detailed metallurgical testing of the oxide mineralization which should allow process parameters to be established for plant design. Drilling to expand the oxide footprint and establish a measured and indicated mineral resource will be designed when the metallurgical test work is completed. In the Unigold Inc. Press Release: Jan 22, 2020 2 meantime, both of our diamond drill rigs are exploring the deeper, higher grade sulphide mineralization at the Candelones Extension deposit.” | |
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