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Unigold Identifies Potential Vertical Feeder System at the Candelones Extension Deposit Intersecting 12.0 metres of 7.46 g/t Au; 1.4% Cu
TORONTO, ONTARIO--(Marketwired - March 4, 2016) - Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) is pleased to announce recent results from explora
About this update from Unigold Inc.
[{"type":"text","content":" TORONTO, ONTARIO--(Marketwired - March 4, 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 completed four holes at Target B; the second of three targets selected for drill testing (Ref. Figure 1.0). The drilling at Target B included four holes, centered on previous hole LP28 (16.4 g/t Au; 26.7 g/t Ag; 0.3% Cu; 2.4% Zn over 15.0 metres (\"m\")). Newly discovered mineralization is contained with a vertical feeder zone of sulphide matrix-supported angular breccias which show clear evidence of multiphase epithermal activity. The best results were intersected in hole LP16-100 which identified two, distinct zones of enrichment. The first, with elevated lead, zinc and silver grades, assayed 2.43 g/t Au; 18.8 g/t Ag; 0.2% Cu and 4.3% Zn over 9.5 m at a depth of 291.1 m from the collar. The second, with elevated gold and copper grades, assayed 7.46 g/t Au; 5.1 g/t Ag; 1.4% Cu and 1.3% Zn over 12.0 m at a depth of 307.5 m from the collar. The zonation may reflect excellent preservation of a classic, telescoping epithermal system. Previous drilling at Target A, 200 m east of Target B (ref. Fig 1.0), intersected massive to semi-massive sulphides that returned intercepts of 6.19 g/t Au over 34.9 m, 7.45 g/t Au over 15.7 m and 4.15 g/t Au over 34.0 m (UGD PR# 2016-02). Mineralization at this target defined a flat-lying lens of massive sulphide. The area between Target A and B was not sufficiently tested during historic drilling to draw any conclusions regarding the relationship between the newly discovered feeder zone and the massive sulphide lens. It is possible that a genetic relationship links the two zones and this must be tested and defined in future drill programs. The gold copper zone at Target B is particularly interesting as it appears to define a potential vertical feeder zone whereas the massive sulphides at Target A appear to be horizontal and cross-cut stratigraphy. The newly discovered vertical feeder system has been defined by drilling over a 100 m vertical distance by new hole LP16-100 and previous holes LP28 and LP29 (6.28 g/t Au; 1.1% Cu over 12.0 m). The feeder appears to be vertical and is estimated to have a ...