Business
Unigold Inc. announces obtaining a reconnaissance license in the Kingdom of Saudi Arabia
Unigold Inc. announces obtaining a reconnaissance license in the Kingdom of Saudi Arabia.
About this update from Unigold Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES./\n\n\nTORONTO, Sept. 5 /CNW/ - Unigold Inc. ("Unigold" or the "Company")\n(TSX-V: UGD) is pleased to announce that it has obtained a reconnaissance\nlicense for all Minerals and Rocks granted by the Deputy Ministry of Mineral\nResources in the Kingdom of Saudi Arabia. This License may include all\nLocations in the Kingdom. The duration will be for a period two (2) years and\nmay be renewed for another two years. The license provides for reconnaissance\nof all Minerals and Rocks except Minerals and Materials excluded by the Mining\nInvestment Code. The License entitles the Company to all the rights in the\nMining Investment Code and its Executive Regulations including but not limited\nto the rights to survey and investigate the area indicated in the license and\nexamine ore bodies, collect samples, use geophysical and geochemical method\nand other scientific methods and any preliminary examinations of land, with\npotential mining deposits for the designated duration of the License. During\nthe last 40-years, the Deputy Ministry of Mineral Resources has conducted\nmajor reconnaissance/exploration of minerals and rocks in the Kingdom and has\ntremendous information data base library on the mineral wealth of the country.\n\n\nDr. Ibrahim M. Eitani, the President and C.E.O. of Unigold, stated that\n"this License will open fast opportunities to Unigold in the virgin mineral\nindustry of the Kingdom of Saudi Arabia which contains tremendous varieties of\nMinerals (precious and base metals) and thus provides a valuable blue sky for\nfuture development/growth of the Company. Furthermore, the Government of Saudi\nArabia is very keen about encouraging the development of and the investment in\nthe mineral industry as well as providing important incentives to accomplish\nthis strategy".\n\n\nAbout Unigold Inc.\n\n\n------------------\n\n\nUnigold Inc. is exploring to find and develop gold deposits on its\n100-per-cent-owned 226 km(2) Neita property located in the Dominican Republic.\nHaving the largest land package in the Dominican Republic, the goal is to\ntarget bulk tonnage, open pittable, oxide gold deposits within a similar\nsetting to the world class Pueblo Viejo gold project which occurs within...