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Unigold Inc.
Summary
| Project: | Neita | |
|---|---|---|
| Deposit: | Candelones Extension | |
| Location: | Dominican Republic | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 2/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-2-2017: Unigold Inc. announces an Exploration/Drilling Update report for its Candelones Extension deposit at the Neita project. Drilling results incl. 23.7m @ 0.8g/t Au, 3.9g/t Ag, 0.1% Cu, 0.6% Zn from 16.7m. Unigold Inc. (“Unigold” or the “Company”) ( | |
| Resources: | (Resource, Inf): 3.5Mt @ 0.98g/t Au for 112000oz Au for Open pit (Oxides) | |
| CP/QP: | [Overall Report]: Wes Hanson (Internal) | |
| ABSTRACT: | Unigold Inc. (“Unigold” or the “Company”) (TSX‐V:UGD) is pleased to announce results from exploration drilling at the Candelones Connector deposit, within the Company’s 100% owned Neita Concession in the Dominican Republic. The Company has received results from eight holes evaluating the potential to expand the footprint of near surface oxide mineralization discovered at the Candelones Connector deposit in 2013. Metallurgical testing (SGS Lakefield, 2007), indicates that the oxide mineralization is amenable to direct cyanidation, with gold recoveries in excess of 96% reported. The latest drilling was designed to evaluate the depth and extent of sub‐cropping oxide mineralization. Two fences of vertical holes, spaced 50 metres apart, tested a 150 metre long by 100 metre wide gap between the Candelones Main and Candelones Connector deposits where previous drilling identified the oxide resource. Joseph Del Campo, Interim President and CEO of Unigold notes: “We are very pleased to have had an opportunity to drill the near surface oxide mineralization at the Candelones Connector during this exploration drill campaign. Our drilling at the Candelones Extension, which successfully expanded the high grade mineralization identified earlier in 2016, was completed ahead of schedule, providing us with an opportunity to test the near surface resource potential of the oxide mineralization identified in 2013. We believe that the robust metallurgical recoveries and sub‐cropping oxide mineralization present an opportunity for low cost, low strip starter pit(s) that could improve the overall economics of the Candelones Project.” | |
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