Business
Unigold Candelones project remains on-track for Q3 delivery of feasibility, ESIA and Exploitation Licence
The Exploitation Concession Application review by the Directorate of Mines in the Dominican Republic has been completed and the application has moved to the nex
About this update from Unigold Inc.
[{"type":"text","content":" The Exploitation Concession Application review by the Directorate of Mines in the Dominican Republic has been completed and the application has moved to the next stage with no comments received to date Final assays from oxide delineation drilling have been received and are being incorporated into a new Mineral Resource Estimate and mine plan Geotechnical work to support the Heap Leach Facility design is ongoing Field work to support the Environmental and Social Impact Assessment is ongoing TORONTO, April 27, 2022 (GLOBE NEWSWIRE) -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD; OTCQX: UGDIF; FSE:UGB1) is pleased to provide an update on activities at its 100% owned Neita concession in the Dominican Republic. Joseph Hamilton, CEO, commented, “Our strategy for the delivery of a small footprint, low-capital oxide project at Candelones is intended to introduce mining to the local communities while allowing us to build capacity and infrastructure that can be used to develop the larger sulphide resource in the future. Our community and government support for this project have been encouraging. We filed an application to convert part of the Neita area into an Exploitation Concession at the end of February. The review of the application has been completed by the Mining Directorate with no material comments or changes. The Directorate has now moved the application to the next stage of the process with the publication of the application in the national newspaper. We remain confident that we can meet our Q3 guidance for the delivery of an Exploitation Licence over the southern part of the Neita concession. Environmental, geotechnical and community programs remain on-going and, in conjunction with our completed oxide drilling program, will contribute to our stated objective of delivering a final feasibility study and environmental impact assessment in the third quarter of this year.” The first step in achieving commercial production at the Candelones oxide deposits is to receive an Exploitation Licence over a portion of the Neita Concession. The application and supporting documentation were filed with the appropriate government organizations on February 25, 2022. The granting of an Exploitation Licence would give Unigold the sole right to extract metallic minerals from a 9,990 hectare concession area for a 75-year period...