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Unigold Inc.
Summary
| Project: | Neita | |
|---|---|---|
| Deposit: | Candelones Extension | |
| Location: | Dominican Republic | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 11/2/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-11-2016: Unigold Inc. announces an Exploration/Drilling Update report for its Candelones Extension deposit at the Neita project. Drilling results incl. 95.6m @ 1.8g/t Au, 1.8g/t Ag, 0.2% Cu, 0.9% Zn from 265.4m. Toronto, Ontario, November 2, 2016 – Unig | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Wes Hanson (Internal) | |
| ABSTRACT: | Toronto, Ontario, November 2, 2016 – Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to announce results from ongoing exploration drilling at the Candelones Extension deposit, within the Company’s 100% owned Neita Concession in the Dominican Republic. The Company has received results from a further six holes testing the A and B targets at the Candelones Extension deposit. (Ref. Figure 1.0). Joseph Del Campo, Interim President and CEO of Unigold notes: “These latest results continue to demonstrate the excellent potential of the Candelones Extension deposit. We continue to intersect broad intervals of 1.0 to 1.5 g/t Au over several tens of metres below the andesite-dacite contact, increasing both the size and the confidence level of our initial mineral resource estimate completed in 2013. More importantly, we continue to delineate zones of higher grade mineralization that historical wide-spaced drilling failed to identify. LP16-118 has expanded the footprint of the gold-copper rich massive sulphides further to the west. Holes LP16-120 and 123 strongly suggest sub-vertical continuity that remains untested at depth.” Hole LP16-118 was the final hole testing the western continuity of the gold-copper rich massive sulphide mineralization discovered in Q1, 2016. This mineralization remains open to the east and to the west. Holes LP16-119 through 123 were step out holes testing what is interpreted to be a sub-vertical feeder zone. There is clear evidence of multiple phases of epithermal enrichment and evidence of classic metal zonation. Holes LP16-120 and 123 both exhibit sulphide matrix-supported angular breccias which show clear evidence of multiphase epithermal activity. Both holes also intersect an upper zone of gold-silver-zinc enrichment with a deeper zone of gold-copper enrichment where zinc is absent. The feeder has now been traced by five holes over a 100m dip. | |
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