Unigold Reports 7.0 Meters Averaging 15.06 g/t Au at Target C, Candelones Extension Deposit
December 10 2020 - 6:50AM
Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD; OTCQX:UGDIF;
FSE:UGD1) is pleased to announce results from its ongoing
exploration drilling at the Candelones Extension deposit, part of
the Company’s 100% owned Neita Concession in the Dominican
Republic.
The Company has completed 32 drill holes (10,070
m) of the planned 15,000 meter program including 9 holes (243
meters) at the Candelones Main and Connector zone targeting oxide
and transition mineralization for additional metallurgical test
work. Drilling has moved to test the both the eastern and western
extensions of mineralization in sparsely drilled areas.
Joe Hamilton, Chairman and CEO of Unigold notes:
“The lack of assay results has hampered the positioning of new
drill holes. Our technical teams pivoted to using drillholes to
test structural ideas in the gaps between Targets A, B and C while
continuing to target the best mineralisation in the footwall below
the andesite-dacite contact. The results have not only extended
Target C a further 75 metres to depth but have shown that
high-grade mineralization is possibly down-dropped in this area.
These interpretations have given the Company new hope for finding
more epithermal mineralization between Targets C and B.
We have commenced exploration drilling through
the 1500 meter gap west of Target C, towards the Candelones Hill
mineralization. We are targeting the interpreted andesite-dacite
contact based on recent re-interpretation of the airborne
electromagnetic dataset. This area has been sparsely drilled close
to surface and the depth potential has never been probed.
To the east, the area between Target A and B has
always shown a lack of significant results. Our latest drillhole
suggests that mineralization may also be drop-faulted through this
area to depths that are difficult to attain with our current drill
fleet. Instead we have transitioned to testing the extension of
Target A to the northeast where no drilling exists. Our plan is to
establish pre-drilled collars to a maximum hole depth of 500
meters, leave casing in these pre-drilled collars and deepen these
holes once our new drills clear Customs and become
operational.”
LP20-176 (Ref. Figure 1) was a step out hole 25
meters east of the central core of Target C and 75 meters deeper.
It was drilled below and between LP91 (5.0 meters averaging 3.01
g/t) and LP16-113 (5.5 meters averaging 4.08 g/t). LP20-176
intersected mineralization that was both thicker and higher grade
than the two holes above it and alos retuned a long intersection of
lower grade disseminated mineralization surrounding the core of
epithermal sulphides. LP20-176 returned
64.0 meters averaging
1.92 g/t Au, 1.1
g/t Ag, 0.1% Cu and 0.2% Zn including 7.0
meters averaging 15.06 g/t Au, 4.43 g/t Ag, 0.5% Cu and 6.3%
Zn (Ref. Table 1.0). Once again, Target C is showing
significant silver, copper and zinc accompanying the gold.
Hole LP20-178 targeted an area 75m below the
above intercepts, exploring for the eastern depth extension of
Target C (Figure 1). This hole intersected successive, narrow
(<3.0 meter) mafic dikes, late fault zones and brecciated
dacitic volcanoclastics. Considering the amount of late
post-mineralization faulting encountered east of Target C in
LP20-176, the Company believes the hole likely tracked along an
interpreted sub-vertical fault system and that this fault system
forms the western boundary of a down-dropped graben block. The
down-dropped graben may explain why only a few drill holes returned
epithermal mineralization in this area but also explains the
downward displacement of the low-grade disseminated mineralisation
through this area. If epithermal mineralization exists between
Target B and C, it is likely below existing drilling.
At Target B, LP20-155 (Figure 1) was drilled to
test the down-dip continuity by targeting an area approximately 50
meters below LP19-135 (24.0m averaging 6.03 g/t Au, 4.9 g/t Ag,
0.3% Cu and 0.7% Zn). A 50 m zone of irregular brittle faulting
marked the end of andesitic rocks. Once through this fault zone,
disseminated sulphides in a dacite unit returned ubiquitous
low-grade mineralization. Fifty metres beyond the
fault zone and deeper in the dacite volcanoclastic unit, a 5.0
meter section of semi-massive pyrite and chalcopyrite
averaged 0.18 g/t Au, 1.1
g/t Ag, 0.53% Cu and 0.0% Zn. While the gold grade was
low, the sulphide mineralization in this area was strong and
encouraging. This faulting in this hole, along with other holes on
this section, seems to imply that Targets A and B are also
separated by a fault, with the eastern side down-dropped (Figure
1).
Table 1.0 – Significant
Results LP20-168, 170, 172, 174
and 153A
Target |
Hole (#) |
From(m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Zn (%) |
C |
LP20-176 |
|
296.00 |
360.00 |
64.00 |
1.92 |
1.12 |
0.06 |
0.81 |
|
including |
297.00 |
336.00 |
39.00 |
3.06 |
1.54 |
0.10 |
1.32 |
|
including |
329.00 |
336.00 |
7.00 |
15.06 |
4.43 |
0.45 |
6.33 |
|
LP20-178 |
|
No significant values |
B |
LP20-155 |
|
320.00 |
388.00 |
68.00 |
0.30 |
0.44 |
0.04 |
0.07 |
|
including |
324.00 |
326.00 |
2.00 |
1.16 |
0.48 |
0.04 |
0.03 |
|
and |
484.00 |
489.00 |
5.00 |
0.18 |
1.07 |
0.53 |
0.00 |
(1) Interval represents drilled length in meters and not true
width. |
Figure 1.0 –
CANDELONES LONG SECTION LOOKING
NORTHhttps://www.globenewswire.com/NewsRoom/AttachmentNg/ed3adc35-960e-4072-ada7-dbfce2488532
QA/QC
Diamond drilling utilizes both HQ and NQ
diameter: holes are established using HQ diameter before reducing
to NQ . The core is received at the on-site logging facility where
it is photographed, logged for geotechnical data and subjected to
other physical tests including magnetic susceptibility and specific
gravity analysis. Samples are identified, recorded, split by wet
diamond saw, and half the core is sent for assay with the remaining
half stored on site. A standard sample length of 1.0 metres is
employed. Certified standards and blanks are randomly inserted into
the sample stream and constitute approximately 5-10% of the sample
stream. Samples are shipped to a sample preparation facility in the
Dominican Republic operated by Bureau Veritas. Assaying is
performed at Bureau Veritas Commodities Canada Ltd.’s laboratory in
Vancouver, B.C. Canada. All samples are analyzed for gold using a
50 gram lead collection fire assay fusion with an atomic adsorption
finish. In addition, most samples are also assayed using a 36
element multi-acid ICP-ES analysis method.
Wes Hanson P.Geo., Chief Operating Officer of
Unigold has reviewed and approved the contents of this press
release.
About Unigold Inc. – Discovering Gold in
the Caribbean Unigold is a Canadian based mineral
exploration company traded on the TSX Venture Exchange under the
symbol UGD, focused primarily on exploring and developing its gold
assets in the Dominican Republic.
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For further information please visit www.unigoldinc.com or contact:
Mr. Joseph Hamilton
Chairman & CEO
jhamilton@unigoldinc.com
T. (416) 866-8157
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