Funding To Support Dominican Republic Exploration
Unigold Inc.(TSXV:UGD, OTCQX:UGDIF) has announced a non-brokered private placement for gross proceeds of up to $3 million.
The 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.
Closing of the Offering may be completed in multiple tranches and is subject to certain closing conditions including, but not limited to, conditional approval from the TSX Venture Exchange and receipt of any other required regulatory approvals.
Unigold is a Canadian based mineral exploration company. 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 km 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. T
he 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 mineralisation and continues to expand the deeper sulphide resources with on-going drilling. https://unigoldinc.com/
