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Unigold Inc.
Summary
| Project: | Neita | |
|---|---|---|
| Deposit: | Candelones Extension | |
| Location: | Dominican Republic | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 11/28/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-11-2019: Unigold Inc. announces an Exploration/Drilling Update report for its Candelones Extension deposit at the Neita project. Drilling results incl. 99.00m @ 3.42g/t Au, 2.80g/t Ag, 0.33% Cu from 237.50m. TORONTO, Nov. 28, 2019 -- Unigold Inc. (“Uni | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Wes Hanson (Internal) | |
| ABSTRACT: | TORONTO, Nov. 28, 2019 -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to announce additional results from two drill holes targeting gold-rich massive sulphide mineralization at the Company’s 100% owned Neita Concession in the Dominican Republic. These holes were drilled primarily to collect sample material for a metallurgical test program to be completed in 2020 and to improve the confidence in the existing resource model. Exploration drilling, targeting the depth extensions of mineralization, commenced in mid-November. LP19-133M intersected 17.0 m of massive sulphide that assayed 7.30 g/t Au with 22.50 g/t Ag and 1.2% Cu (Ref. Table 1.0). LP19-132M intersected 12.0 m of massive sulphide that assayed 6.95 g/t Au with 8.40 g/t Ag and 0.86% Cu within a 99.0 m package containing three distinct sulphide intervals that assayed 3.42 g/t Au with 2.8 g/t Ag and 0.3% Cu overall (Ref. Table 1.0). The sulphide mineralization within this larger package showed a distinct and separate lens grading 21.70 g/t Au over the final 3.50 m at the footwall. Joe Hamilton, Chairman and CEO of Unigold notes: “These latest holes confirm the continuity of the massive sulphide mineralization. More importantly, the results show minimal grade variation within the massive sulphide which results in startlingly consistent gold and copper grades with no discernable nugget effect and little need for cutting assays. Both of our drills are now operating on a 24/7 basis. We completed 1400 meters of drilling in October with average drill productivities of 52 m per day and 25 m per day for sulphide and oxide drilling respectively. Now that the phase 1 drilling has been completed, both drills have shifted focus towards tracing the depth and strike extensions of this high-grade mineralization. Exploration will initially target the depth extensions and explore the footwall for stockwork and feeder zones before stepping out to probe the eastern extensions. Exploration drilling will continue until the late December. On behalf of the Board and all the shareholders of Unigold, I would like to thank our staff in the Dominican Republic for their dedication and persistence in commencing this exploration program in record time with a clear safety record. Their professionalism and commitment is our biggest asset.” | |
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