Hits 14m Averaging 14.94 g/t Au At Target C In Dominican Republic
Unigold Inc. (TSXV:UGD; OTCQX:UGDIF; FSE:UGD1) has intersected high-grade gold mineralisation at its ongoing exploration drilling at the Candelones Extension deposit, part of the company’s 100% owned Neita Concession in the Dominican Republic.
Drilling continues to test potential epithermal feeder systems at Targets B and C of the Candelones Extension deposit. The company has completed 12 drill holes (4742 m) of the planned 15,000m programme.
Drilling at Target C is focused on tracing an interpreted fault structure which has been intruded by late mafic dike(s).
Chairman and CEO, Joe Hamilton, said high-grade gold and silver mineralisation is localized at or near the contact of the magnetic dike suggesting that this could represent a potential marker horizon to guide future drilling.
“LP20-162 is the first hole drilled that tests whether the post-mineral mafic dikes may mark fault zones in the host dacite. These fault zones likely served as brecciated conduits for epithermal mineralisation.
“Our exploration model suggests that these mafic dikes, in addition to defining potential conduits, also remobilised mineralisation and concentrated it along the contact of the dikes.
“The mineralisation is startlingly consistent and evenly distributed along the intercept length, ranging from 5.0 g/t to 32.0 g/t. This intercept is within 100m of surface.”
LP20-162 was a scissor hole drilled to the south and intended to confirm the geometry of the dike at Target C in addition to providing enough material for further metallurgical testing. The hole intersected target mineralisation as planned along the contact of an interpreted, sub-vertical, post-mineralization mafic dike.
These late stage mafic dikes appear to define fault zones that were active over a prolonged period and served as conduits for multiple mineralization events.
The upper (above 146m) and lower contacts (below 189 m) of the coarse grained epithermal mineralization are sharp and can be defined both by assays and visually.
The dyke and the epithermal mineralisation overprints the ubiquitous fine-grained, lower-grade disseminated mineralization that is found deeper in the hole.