Unigold Intersects 7.0 meters averaging 21.9 g/t gold and 2.7% copper at Candelones Extension Deposit
March 02 2021 - 6:45AM
Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD; OTCQX: UGDIF;
FSE:UGB1) is pleased to report recent drill results from its 100%
owned Neita concession in the Dominican Republic.
Joseph Hamilton, Chairman and CEO of Unigold
notes: “LP20-165 is the deepest and highest-grade intersection to
date at Target B (Ref. Table 1). This hole extended mineralization
a further 100m to depth and demonstrates that the system may be
strengthening. Once again, the epithermal mineralization shows
consistent grades over the 7 metre intercept with the highest assay
returning 51.60 g/t gold over 1 metre (Ref. Table 2). Disseminated
mineralization continues to exist at depth in the footwall, as
observed across the entire 2 kilometer strike length of drilling at
Candelones. In this case, disseminated mineralization averaged 1.21
g/t over a remarkable 298 metres into the footwall.
LP20-165 was aligned to pass through Target A
mineralization before continuing into the deep footwall extension
of target B. The Target A intersection returned 17.0 metres grading
6.7 g/t gold and 0.1% copper. Two additional holes have been
pre-collared: each a 100 meter step out down-dip along the Target B
trend after passing through the Target A horizon. These holes are
in the process of being extended by our larger machines.
LP21-177 is the first hole that was testing a
potential new epithermal target at “Target D”, approximately 200
metres to the west of Target C. No drilling has been conducted in
this area since 2011 when LP62 intersected 9.0 meters grading 6.6
g/t Au with 3.2% copper and LP66 intersected 6.0 meters averaging
8.2 g/t Au with 2.6% Zn. Both intersections were within 100m of
surface. LP21-177 intersected a broad zone of strong semi-massive
to net textured pyrite mineralization within an interpreted
subvertical fault zone. Although the reported grades and
thicknesses are less than those returned from our other targets,
this drillhole shows 85 metres of strong alteration, mineralization
and structure which is encouraging for continued drilling. This
sub-vertical trend, like the controls found at Targets B and C, is
evolving as an important control on mineralization at Target
D.”
The Company has completed 63 holes (16,527
meters) to date in our planned 2020 drill program. Assays are
pending from 11 holes. Current analytical turn-around time (“TAT”)
exceeds thirty days, more than double historical laboratory
performance. The increased TAT has introduced significant
challenges in drill targeting in 2020-2021, particularly as the
Company transitions to testing targets outside the historical
resource area at Candelones.
Drilling within the 1 kilometer Candelones Gap,
between the oxide mineralization at Candelones Hill and the
easterly Candelones Extension, was positioned to target weak
surface geochemical soil and rock anomalies along the interpreted
andesite-dacite contact. This area has been sparsely drilled in the
past. Drilling in this area intersected andesite and dacite tuffs
and volcanoclastics, but also intercepted broad sections of
explosive volcanic breccias which disrupt most rock types. This
drilling has been completed and assays are pending with results
anticipated in 2-4 weeks.
QA/QC
Diamond drilling utilizes both HQ and NQ
diameter tooling. Holes are established using HQ diameter tooling
before reducing to NQ tooling to complete the hole. The core is
received at the on-site logging facility where it is, photographed,
logged for geotechnical and geological 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 minimum sample length of 0.3 meters and a
maximum sample length of 1.5 metres is employed with most samples
averaging 1.0 meters in length except where geological contacts
dictate. 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.
Table 1 – Recent Results – Candelones Extension
Target
Target |
Hole (#) |
From(m) |
To (m) |
Interval (m)
(1) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Zn (%) |
A - B |
LP20-165 |
243.00 |
541.00 |
298.00(2) |
1.21 |
1.07 |
0.13 |
0.07 |
|
including |
243.00 |
300.00 |
57.00 |
2.19 |
0.99 |
0.08 |
0.09 |
|
including |
256.00 |
273.00 |
17.00 |
6.26 |
1.34 |
0.10 |
0.14 |
|
and |
444.00 |
470.00 |
26.00 |
6.72 |
5.93 |
0.94 |
0.51 |
|
|
including |
458.00 |
465.00 |
7.00 |
21.89 |
17.46 |
2.68 |
0.78 |
C - D |
LP20-177 |
|
124.65 |
209.80 |
85.15 |
0.31 |
0.90 |
0.12 |
0.02 |
|
including |
125.65 |
135.85 |
10.20 |
0.75 |
3.03 |
0.23 |
0.03 |
|
including |
130.10 |
135.00 |
4.90 |
1.17 |
2.60 |
0.30 |
0.00 |
|
|
and |
169.40 |
172.30 |
2.90 |
0.77 |
1.86 |
0.49 |
0.04 |
|
|
and |
188.00 |
191.00 |
3.00 |
0.76 |
1.65 |
1.00 |
0.11 |
(1) Interval
represents drilled length in meters and not true width.
(2) Interval
includes 48.0 m of un-sampled material which has been assigned
grades of 0.00 (Au and Ag g/t; Cu and Zn %) in estimating the
average reported grades.
|
Table 2 – LP20-165 Target B Results |
From |
To |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Zn (%) |
From |
To |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Zn (%) |
444.00 |
445.00 |
0.36 |
1.30 |
0.33 |
0.20 |
|
|
|
|
|
|
|
445.00 |
446.00 |
0.74 |
2.50 |
0.34 |
2.20 |
|
|
|
|
|
|
|
446.00 |
447.00 |
0.26 |
2.00 |
0.26 |
0.50 |
|
|
|
|
|
|
|
447.00 |
448.00 |
12.30 |
10.10 |
1.26 |
4.52 |
|
|
|
|
|
|
|
448.00 |
449.00 |
3.54 |
5.10 |
1.04 |
0.16 |
|
|
|
|
|
|
|
449.00 |
450.00 |
0.32 |
0.60 |
0.06 |
0.03 |
|
|
|
|
|
|
|
450.00 |
451.00 |
0.10 |
0.25 |
0.05 |
0.07 |
|
|
|
|
|
|
|
451.00 |
452.00 |
0.09 |
0.25 |
0.06 |
0.01 |
|
|
|
|
|
|
|
452.00 |
453.00 |
0.30 |
1.00 |
0.24 |
0.07 |
|
|
|
|
|
|
|
453.00 |
454.00 |
0.15 |
0.25 |
0.02 |
0.02 |
|
|
|
|
|
|
|
454.00 |
455.00 |
0.15 |
0.70 |
0.05 |
0.00 |
|
|
|
|
|
|
|
455.00 |
456.00 |
0.31 |
1.00 |
0.12 |
0.01 |
|
|
|
|
|
|
|
456.00 |
457.00 |
0.58 |
2.70 |
0.31 |
0.02 |
|
|
|
|
|
|
|
457.00 |
458.00 |
0.36 |
0.80 |
0.19 |
0.07 |
|
|
|
|
|
|
|
458.00 |
459.00 |
1.56 |
6.10 |
0.92 |
0.02 |
|
|
|
|
|
|
|
459.00 |
460.00 |
30.60 |
43.50 |
4.38 |
0.32 |
|
|
|
|
|
|
|
460.00 |
461.00 |
51.60 |
31.30 |
5.05 |
1.35 |
|
|
|
|
|
|
|
461.00 |
462.00 |
26.90 |
7.20 |
3.06 |
0.50 |
|
|
|
|
|
|
|
462.00 |
463.00 |
13.10 |
12.50 |
1.93 |
1.93 |
|
|
|
|
|
|
|
463.00 |
464.00 |
23.30 |
17.20 |
2.55 |
1.19 |
|
|
|
|
|
|
|
464.00 |
465.00 |
6.14 |
4.40 |
0.85 |
0.13 |
458.00 |
465.00 |
7.00 |
21.89 |
17.46 |
2.68 |
0.78 |
465.00 |
466.00 |
0.81 |
1.10 |
0.59 |
0.00 |
447.00 |
465.00 |
18.00 |
9.52 |
8.05 |
1.23 |
0.58 |
466.00 |
467.00 |
0.32 |
0.60 |
0.13 |
0.00 |
|
|
|
|
|
|
|
467.00 |
468.00 |
0.25 |
0.50 |
0.14 |
0.00 |
|
|
|
|
|
|
|
468.00 |
469.00 |
0.28 |
0.70 |
0.38 |
0.00 |
|
|
|
|
|
|
|
469.00 |
470.00 |
0.28 |
0.50 |
0.14 |
0.03 |
444.00 |
470.00 |
26.00 |
6.72 |
5.93 |
0.94 |
0.51 |
Figure 1.0 – Longitudinal Section –
Candelones Extension
Deposit: https://www.globenewswire.com/NewsRoom/AttachmentNg/a0d46945-044d-4e04-925f-5dbfa4b7fbfc
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.
For further information please visit
www.unigoldinc.com or contact:
Mr. Joseph Hamilton |
Chairman & CEO |
jhamilton@unigoldinc.com |
416.866.8157 |
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contained in this document, including statements regarding events
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wish to caution you that such statements contained are just
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differ materially. The forward-looking statements contained in this
document are made as of the date hereof and we assume no obligation
to update the forward-looking statements, or to update the reasons
why actual results could differ materially from those projected in
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provided by the (United States) Private Securities Litigation
Reform Act of 1995.
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Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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