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Unigold Inc.
Summary
| Project: | Neita | |
|---|---|---|
| Deposit: | Candelones Extension | |
| Location: | Dominican Republic | |
| Commodities: | Gold-Silver-Copper-Zinc | |
| Date: | 10/5/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-10-2016: Unigold Inc. announces an Exploration/Drilling Update report for its Candelones Extension deposit at the Neita project. Drilling results incl. 52.2m @ 3.3g/t Au, 6.1g/t Ag, 0.4% Cu, 0.1% Zn from 228.8m. Toronto, Ontario, October 5, 2016 – Unigo | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Wes Hanson (Internal) | |
| ABSTRACT: | Toronto, Ontario, October 5, 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 four holes at Target A, (Ref Figure 1.0) where drilling in late 2015 identified gold and copper rich massive sulphide mineralization. Follow up drilling in early 2016 traced the massive sulphide discovery over 200 metres to the east. Significant results included LP15-93 (15.7 metres @ 7.5 g/t Au; 1.1% Cu); LP15-95 (34.9 metres @ 6.2 g/t Au; 0.6% Cu) and LP16-101 (9.8 metres @ 3.1 g/t Au; 0.6% Cu) (UGD PR# 2016-04). Joseph Del Campo, Interim President and CEO of Unigold notes: “These latest results have increased the footprint of the gold-copper rich massive sulphides to the west. The massive sulphide mineralization remains open along strike in both directions providing an enticing target for further drill testing. To date, we have completed approximately 70% of the planned 2016 drill program and remain ahead of schedule and under budget. Results to date have exceeded our expectations, not only increasing the footprint of the high grade targets within the current resource envelope but also identifying additional drill targets with the potential to further expand the footprint of the high grade zones. Drilling at the central ‘Target B’ is complete and drills have moved to the eastern extent of the gold-copper rich massive sulphides to test areas where we believe faulting may have down-dropped the mineralization below the historical drilling. Assay results from ‘Target B’ should be available over the next few weeks. Drill productivity is 30% higher than expected, costs are tracking below budget and our Health, Safety and Environmental record has been exceptional.” | |
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