Unigold Appoints Mr. Gordon Babcock as Chief Operating Officer
December 02 2021 - 7:00AM
Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD; OTCQX: UGDIF;
FSE:UGB1) is pleased to announce the appointment of Gordon Babcock,
P.Eng. as Chief Operating Officer (“COO”). Mr. Babcock will be
responsible for supervising all engineering and technical
activities of Unigold Inc. and it’s operating subsidiaries as
Unigold moves towards development of its Candelones Project. Mr.
Wes Hanson, the current COO of the Company, will assume the role of
Vice-President of Exploration and continue to be responsible for
the exploration activities at the Company’s flagship Neita
Concession.
Joseph Hamilton, Chairman and CEO of Unigold,
comments, “I am excited to welcome Gordon into the senior
management team at Unigold. We are fortunate to have been able to
attract someone with Mr. Babcock’s exceptional skills and
experience developed over 35 years in operations and project
management. Mr. Babcock will be instrumental completing the
feasibility study for the Oxide Project at Candelones and
demonstrating how the Sulphide Project can be developed to
integrate into the long-term plans for the Candelones deposits. We
look forward to working with Gordon as we move through this
transformative phase for Unigold.
"I would like to thank Wes Hanson for his role
in pushing the Candelones deposits towards development. Wes has
been involved with Candelones for the past 8 years and has been
instrumental in developing the geological concepts that will carry
the project forward. Mr. Hanson will assume responsibility for the
Company’s exploration efforts in addition to the geology support
that will be required as the Sulphide Project is assessed. I look
forward to continuing to work with Wes as the Company turns its
attention to the larger Nieta Concession and the assessment of 15
high priority targets that have been identified through our
regional exploration work.”
Mr. Babcock is a mining executive with over 35
years of experience in mine management in both underground and open
pit operations, project development, engineering, exploration and
mine consulting in precious, base metals and aggregate operations
in the Americas. He has been involved with new operations, asset
optimizations and strategies for stakeholder engagement in Peru,
Chile, Brazil, Honduras, Spain, Bolivia, Argentina, the U.S.A and
Canada. Mr. Babcock is a graduate of Queens University and is a
member of the Association of Professional Engineers Ontario.
The Company also announces that the Board of
Directors has approved the grant of stock options ("Options") to
employees of the Company allowing for the acquisition of an
aggregate of up to 1,050,000 common shares of the Company
("Shares") with an exercise price of $0.15 per Share and an expiry
date of December 1, 2026. The options will vest at 33% every six
months beginning June 1, 2021. The grant of Options were issued
pursuant and subject to the terms and conditions of the Company's
stock incentive plan and TSX Venture Exchange policies.
About Unigold Inc. – Discovering Gold in
the CaribbeanUnigold is a Canadian based mineral
exploration company traded on the TSX Venture Exchange under the
symbol UGD, the OTCQX exchange under the symbol UGDIF, and on the
Frankfurt Stock Exchange under the symbol UGB1. The Company is
focused primarily on exploring and developing its gold assets in
the Dominican Republic. The Candelones oxide gold deposit is within
the 100% owned Neita Fase II exploration concession located in
Dajabón province, in the northwest part of the Dominican Republic.
The Candelones project area is about 20 kilometers south of the
town of Restauraćion. The oxide deposit occurs at surface as a
result of the tropical weathering of underlying mineralization.
Unigold has been active in the Dominican Republic since 2002 and
remains the most active exploration Company in the country. The
Neita Fase II exploration concession is the largest single
exploration concession covering volcanic rocks of the Cretaceous
Tireo Formation. This island arc terrain is host to Volcanogenic
Massive Sulphide deposits, Intermediate and High Sulphidation
Epithermal Systems and Copper-gold porphyry systems. Unigold has
identified over 20 areas within the concession area that host
surface expressions of gold systems. Unigold has been concentrating
on the Candelones oxide mineralization and continues to expand the
deeper sulphide resources with on-going drilling.
Forward-looking StatementsCertain statements
contained in this document, including statements regarding events
and financial trends that may affect our future operating results,
financial position and cash flows, may constitute forward-looking
statements within the meaning of the federal securities laws. These
statements are based on our assumptions and estimates and are
subject to risk and uncertainties. You can identify these
forward-looking statements by the use of words like “strategy”,
“expects”, “plans”, “believes”, “will”, “estimates”, “intends”,
“projects”, “goals”, “targets”, and other words of similar meaning.
You can also identify them by the fact that they do not relate
strictly to historical or current facts. We wish to caution you
that such statements contained are just predictions or opinions and
that actual events or results may 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 the
forward-looking statements. Where applicable, we claim the
protection of the safe harbour for forward-looking statements
provided by the (United States) Private Securities Litigation
Reform Act of 1995.
Neither TSX Venture Exchange nor its Regulation
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.
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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