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Unigold Intersects 15.7 Metres Averaging 7.45 g/t Au with 1.1% Cu
TORONTO, ONTARIO--(Marketwired - Jan. 25, 2016) - Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) is pleased to announce results from ongoing explor
About this update from Unigold Inc.
[{"type":"text","content":" TORONTO, ONTARIO--(Marketwired - Jan. 25, 2016) - Unigold Inc. (\"Unigold\" or the \"Company\") (TSX VENTURE:UGD) is pleased to announce results from ongoing exploration at the Company's 100% owned Neita Concession in the Dominican Republic. Exploration drilling testing potential high grade feeder zones at the Candelones Extension deposit commenced at \"Target A\" (Ref. Figure 1.0); evaluating a zone of massive sulphides intersected in late 2013 in hole LPMET-01 (6.93 g/t Au; 0.6% Cu / 22.0m). LP15-93 was designed to test 40 - 50 metres to the southwest of LPMET-01 and 40 - 50 metres above hole LP17 (6.05 g/t Au; 0.8% Cu / 6.0m. LP15-93 intersected a broad zone of stratabound mineralization that returned: 230.1 to 334.0 metres 103.9 metres(1) 2.09 g/t Au 0.3% Cu; including a massive sulphide lens averaging: 298.6 to 314.3.0 metres 15.7 metres(2) 7.45 g/t Au 1.1% Cu; (1) Interval is drilled length not true width. Hole orientation is perpendicular to mineralization, therefore the drilled length should approximate true width. (2) Interval is drilled length not true width. There is insufficient data at this time to estimate true width. Joseph Del Campo, Interim President and CEO of Unigold notes: \"We are very excited with the results from the first hole of our winter exploration program. The discovery of a discordant lens of high grade massive sulphide within the broader, lower grade, stratabound mineralization previously drilled on 100 metre centers, demonstrates the potential we are attempting to capture with this targeted exploration program. This model, of higher grade feeder zones within a broader zone of lower grade mineralization, is consistent with other gold / copper deposits within the Tireo Formation of the Dominican Republic and we believe there is an excellent opportunity to increase the mineral resources at the Candelones Extension.\" Early exploration at the Candelones Extension deposit was focused on defining a large tonnage, low grade mineral resource amenable to open pit mining. Mineralization was stratabound, occurring within 25 to 100 metres of the contact between overlying andesite volcanic rocks with underlying dacite volcanic rocks. The low grade mineralization occurred almost entirely within the dacites. All the historical drilling was oriented perpendicular to the andesite - dacite contact and spaced on 10...