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Unigold Expands Candelones Extension Deposit Intersecting 7.0 Metres Averaging 8.9 g/t Au; 37.1 g/t Ag; 0.2% Cu; 2.4% Zn at Target C
TORONTO, ONTARIO--(Marketwired - April 11, 2016) - Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) is pleased to announce recent results from explor
About this update from Unigold Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - April 11, 2016) - Unigold Inc. (\"Unigold\" or the \"Company\") (TSX VENTURE:UGD) is pleased to announce recent results from exploration drilling at the Candelones Extension deposit, within the Company's 100% owned Neita Concession in the Dominican Republic. The Company has received results from five holes testing Target C (REF Figure 1.0), near the currently defined western limit of the Candelones Extension deposit. Historical holes LP52 (15.9 metres @ 11.36 g/t Au; 38.3 g/t Ag; 0.4% Cu; 5.1% Zn) and LP57 (10.0 metres @ 6.71 g/t Au; 2.0 g/t Ag; 0.1% Cu; 0.6% Zn), define a potential vertical feeder system (REF Figure 2.0). West of LP52, historical drilling intersected relatively flat lying mineralization, dominated by sphalerite and barite, localized at the andesite - dacite contact. LP16-103 targeted the midpoint between holes LP52 and LP57; intersecting 7.0 metres @ 8.86 g/t Au; 37.1 g/t Ag; 0.2% Cu and 2.4% Zn. LP16-104, 50 metres to the west, intersected 3.3 metres @ 5.06 g/t Au; 90.0 g/t Ag; 0.2% Cu and 2.1% Zn. LP16-105, 100 metres to the west, intersected 8.0 metres @ 6.30 g/t Au; 16.9 g/t Ag; 0.1% Cu and 0.9% Zn. The three holes also roughly bisect a 200 metre gap in the historical drill pattern between holes LP70 and LP54 (REF Figure 3.0), both of which failed to intersect any mineralization of note. West of LP70, historical hole collars shifted to the north, tracking the flat lying portion of the andesite - dacite contact. These latest results suggest that there may possibly be additional resource potential south of the historical drilling. The results suggest E-W metal zonation, represented by gold and copper rich, pyrite dominated massive sulphides in the east, changing to gold, zinc, silver mineralization associated with quartz - barite veining to the west. The results define a structural corridor that is 75 to 100 metres in vertical thickness, plunging at approximately 25-30° to the east from Target C through Target A and beyond (REF. Figure 4.0). This structural corridor contains the majority of the high grade results intersected at the Candelones Extension with the exception of some results at Target B, which are interpreted to be related to a vertical epithermal feeder system. Joseph Del Campo, Interim President and CEO of Unigold notes: \"This limited drill program has far excee...