Hits 16.0m @ 10.78 g/t Au In New Zone to West Of Candelones Resource
Unigold Inc. (TSXV: UGD, OTCQX: UGDIF) has identified the continuation of the Candelones Extension deposit to the west of the known mineral resource in its latest drill results from exploration drilling at its 100% owned Neita concession in the Dominican Republic.
Holews LP21-204 and LP21-206 were collared 50m west of the of the Candelones Extension resource envelope.
CEO, Joe Hamilton, said the holes were drilled as part of an exploration program testing the along strike extensions of mineralisation into sparsely drilled areas.
“This drilling demonstrates that high-grade mineralisation extends beyond the envelope that defines the most recent Mineral Resource Estimate,” Mr Hamilton said.
“Previous exploration efforts in this area intersected lithologies that suggested we are getting closer to a volcanic vent. Although the previous drilling failed to find high-grade mineralization, it increased our understanding of the structure in this area and led directly to this new discovery.
“Our increased understanding of the structure opens up approximately 1000m of potential strike extension to the west. There is minimal historic drilling through this gap, and we believe these latest holes suggest that we have the possibility to increase the mineral resource at Candelones to the west through further drilling.”
Mr Hamilton said the mineralisation at Candelones was likely continuous during its formation but has been displaced by post-mineral faulting that parallels the island-wide north-westerly tectonic fabric. The recognition of this structural displacement led directly to these intersections and has opened up a large area to the north-west that remains undrilled.
LP21-204 and LP21-206 were collared 50m west of the Candelones Extension resource envelope and drilled from the same platform with LP21-206 undercutting the other drillhole by about 50m.
The upper hole, LP21-204, intersected a zone of intermediate epithermal barite-quartz alteration that carried significant gold, silver and sphalerite.
The newly discovered mineralisation appears to be sub-vertical, similar to the other high-grade epithermal systems drilled at Candelones.
Field crews have started to assess regional exploration targets while awaiting assay results from exploration drilling. Trenching, mapping and surface sampling is in progress at Km6 (gold-copper), Neita (copper), MGN (gold) and at Mariano Cestero (a 10 km long x 1 km wide copper-in-soil anomaly northeast of the town of Restauración). Follow up drill holes will be prioritized once results of the surface field work is completed.
Update on Oxide Starter Project
Work on the Candelones Oxide starter project continues. Metallurgical testing of run-of-mine composite material through large diameter leach columns is in progress. Follow-up drilling is planned to convert the inferred resources within the oxide starter pit to indicated status in advance of commencing feasibility work.
Compilation work has highlighted other potential sources of sub-cropping oxide mineralisation and field crews are evaluating these additional sources through surface mapping, sampling and trenching.
The company has retained domestic and international consultants to assist with the development of an Environmental Impact Assessment for the Candelones mineralisation. Weather stations have been installed to monitor baseline conditions throughout the rainy season.
“We are continuing with the Community Engagement process that started in 2020. Our efforts for the remainder of this year will focus on shortening the permitting timelines around the oxide project as we complete final metallurgy and look to starting detailed engineering and definitive feasibility studies,” Mr Hamilton said.
For further information please visit: https://www.unigoldinc.com/
Holews LP21-204 and LP21-206 were collared 50m west of the of the Candelones Extension resource envelope.
CEO, Joe Hamilton, said the holes were drilled as part of an exploration program testing the along strike extensions of mineralisation into sparsely drilled areas.
“This drilling demonstrates that high-grade mineralisation extends beyond the envelope that defines the most recent Mineral Resource Estimate,” Mr Hamilton said.
“Previous exploration efforts in this area intersected lithologies that suggested we are getting closer to a volcanic vent. Although the previous drilling failed to find high-grade mineralization, it increased our understanding of the structure in this area and led directly to this new discovery.
“Our increased understanding of the structure opens up approximately 1000m of potential strike extension to the west. There is minimal historic drilling through this gap, and we believe these latest holes suggest that we have the possibility to increase the mineral resource at Candelones to the west through further drilling.”
Mr Hamilton said the mineralisation at Candelones was likely continuous during its formation but has been displaced by post-mineral faulting that parallels the island-wide north-westerly tectonic fabric. The recognition of this structural displacement led directly to these intersections and has opened up a large area to the north-west that remains undrilled.
LP21-204 and LP21-206 were collared 50m west of the Candelones Extension resource envelope and drilled from the same platform with LP21-206 undercutting the other drillhole by about 50m.
The upper hole, LP21-204, intersected a zone of intermediate epithermal barite-quartz alteration that carried significant gold, silver and sphalerite.
The newly discovered mineralisation appears to be sub-vertical, similar to the other high-grade epithermal systems drilled at Candelones.
Field crews have started to assess regional exploration targets while awaiting assay results from exploration drilling. Trenching, mapping and surface sampling is in progress at Km6 (gold-copper), Neita (copper), MGN (gold) and at Mariano Cestero (a 10 km long x 1 km wide copper-in-soil anomaly northeast of the town of Restauración). Follow up drill holes will be prioritized once results of the surface field work is completed.
Update on Oxide Starter Project
Work on the Candelones Oxide starter project continues. Metallurgical testing of run-of-mine composite material through large diameter leach columns is in progress. Follow-up drilling is planned to convert the inferred resources within the oxide starter pit to indicated status in advance of commencing feasibility work.
Compilation work has highlighted other potential sources of sub-cropping oxide mineralisation and field crews are evaluating these additional sources through surface mapping, sampling and trenching.
The company has retained domestic and international consultants to assist with the development of an Environmental Impact Assessment for the Candelones mineralisation. Weather stations have been installed to monitor baseline conditions throughout the rainy season.
“We are continuing with the Community Engagement process that started in 2020. Our efforts for the remainder of this year will focus on shortening the permitting timelines around the oxide project as we complete final metallurgy and look to starting detailed engineering and definitive feasibility studies,” Mr Hamilton said.
For further information please visit: https://www.unigoldinc.com/
