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Unigold Intersects 34.9 Metres Averaging 6.19 g/t Au with 0.6% Cu
TORONTO, ONTARIO--(Marketwired - Feb. 1, 2016) - Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) is pleased to announce that drilling at the Candelo
About this update from Unigold Inc.
[{"type":"text","content":" TORONTO, ONTARIO--(Marketwired - Feb. 1, 2016) - Unigold Inc. (\"Unigold\" or the \"Company\") (TSX VENTURE:UGD) is pleased to announce that drilling at the Candelones Extension deposit, within the Company's 100% owned Neita Concession in the Dominican Republic, has expanded the massive sulphide mineralization initially reported on January 25, 2016 and has identified a second massive sulphide zone below the initial discovery. The massive sulphides are dominantly pyrite with lesser chalcopyrite. The first zone strikes northeast and dips ten degrees south. Thickness varies from 5 metres on the edges (LP17) to over 30 metres in the center (Ref. Table 1.0; LP15-95), defining a lenticular profile. The initial lens of massive sulphide has been traced 85 metres along strike and 75 metres down dip. It is discordant to lithology and open along strike and up dip (Ref Figures 1.0 - 3.0). Results for the four holes to date are summarized in Table 1.0. Table 1.0 - Massive Sulphide Mineralization - Candelones Extension Hole From (m) To (m) Interval (m) Au (g/t) Cu (%) True Width (1) (m) LP15-93 298.6 314.3 15.7 7.45 1.1 14.0 LP15-94 No massive sulphide - truncated by faulting LP15-95 252.6 287.5 34.9 6.19 0.6 32.0 and (2) 309.9 314.0 4.1 7.31 1.1 NA LP15-96 279.0 313.0 34.0 4.15 0.4 31.0 and (2) 324.0 333.0 9.0 4.81 0.7 NA (1) True width is estimated based on current interpretation of the attitude of the mineralization and the orientation of each drill hole. (2) True width is not known as there is insufficient data at this time to estimate the attitude of this mineralization. Joseph Del Campo, Interim President and CEO of Unigold notes: \"This is exactly the opportunity we hoped to capture with this systematic drill campaign testing for potential feeder zones or conduits that may have been missed by the common drill orientation and wide hole spacing of the historical drilling programs. Any higher gold-copper mineralization intersected in the historical drilling was largely untested for over 100 metres in every direction. We are certainly encouraged by these initial results and plan to continue systematically evaluating the selected target areas as planned.\" The second zone of massive sulphide mineralization lies 10 to 30 metres below the first lens and has now been cut by two holes (LP15-95 and LP15-96). These holes are approximately 40 met...