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Unigold intersects 16.0 metres averaging 10.78 g/t Au in a new zone to the west of the Candelones resource
Exploration drilling has identified the continuation of the Candelones Extension deposit to the west of the known mineral resource LP21-204 intersected 16.0 met
About this update from Unigold Inc.
[{"type":"text","content":" Exploration drilling has identified the continuation of the Candelones Extension deposit to the west of the known mineral resource LP21-204 intersected 16.0 metres averaging 10.78 g/t Au, 68.9 g/t Ag, 0.24% Cu, and 2.35% Zn within a 97.0 metre interval averaging 2.52 g/t Au, 12.1 g/t Ag, 0.12% Cu, and 0.63% Zn All assays within the 16 metre interval returned between 2.7 g/t gold and 22.1 g/t gold LP21-206, 50 metres below LP21-204, intersected 5.0 metres averaging 5.89 g/t Au, 2.2 g/t Ag, 0.29% Cu and 2.75% Zn within a 30.0 metre interval averaging 2.31 g/t Au, 2.29 g/t Ag, 0.41% Cu and 0.83% Zn TORONTO, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Unigold Inc. (TSX.V: UGD, OTCQX: UGDIF, FSE: UGB1) (\"Unigold\" or the \"Company\") reports its latest drill results from exploration drilling at its 100% owned Neita concession in the Dominican Republic. LP21-204 and LP21-206 were collared 50 metres west of the of the Candelones Extension resource envelope (Ref. Figures 1.0 and 2.0). The holes were drilled as part of an exploration program testing the along strike extensions of mineralization into sparsely drilled areas. Joe Hamilton, Chairman and CEO of Unigold notes: “This drilling demonstrates that high-grade mineralization extends beyond the envelope that defines the most recent Mineral Resource Estimate. Previous exploration efforts in this area intersected lithologies that suggested we are getting closer to a volcanic vent. Although the previous drilling failed to find high-grade mineralization, it increased our understanding of the structure in this area and led directly to this new discovery. Our increased understanding of the structure opens up approximately 1000 metres of potential strike extension to the west. There is minimal historic drilling through this gap, and we believe these latest holes suggest that we have the possibility to increase the mineral resource at Candelones to the west through further drilling.” The mineralization at Candelones was likely continuous during its formation but has been displaced by post-mineral faulting that parallels the island-wide north-westerly tectonic fabric (Ref. Figures 1.0 and 2.0). The recognition of this structural displacement led directly to these intersections and has opened up a large area to the north-west that remains undrilled. LP21-204 and LP21-206 were collared 50 metres west of...