Funds To Be Used To Support Neita Work
Unigold Inc. (TSXV: UGD) has closed its previously announced private placement of 25,192,350 units of the company at a price of C$0.13 per Unit for gross proceeds of approximately C$3,275,005.
The net proceeds from the Offering will be used to fund the company’s continued exploration and development on its Neita Concession in the Dominican Republic, and for general working capital purposes
Unigold 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 mineralisation.
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.
The company has been concentrating on the Candelones mineralisation and continues to expand the deeper sulphide resources with on-going drilling.
For further information please visit: https://www.unigoldinc.com/