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Unigold Intersects 4.0 Metres Averaging 10.07 g/t Au; 20.9 g/t Ag; 0.2% Cu and 2.4% Zn; Extends Candelones Extension Footprint to the West
TORONTO, ONTARIO--(Marketwired - Aug. 16, 2016) - Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) is pleased to announce that exploration drilling a
About this update from Unigold Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - Aug. 16, 2016) - Unigold Inc. (\"Unigold\" or the \"Company\") (TSX VENTURE:UGD) is pleased to announce that exploration drilling at the Candelones Extension deposit, within the Company's 100% owned Neita Concession in the Dominican Republic, has intersected high grade precious and base metal mineralization west of Target C (UGD PR# 2016-05) in an untested area within the current resource limits. Two holes, collared on Section 1150 East (Ref. Figure 1.0), have extended the mineralization at Target C twenty five (25) metres to the west of LP16-105. The holes targeted an undrilled area south of the andesite-dacite contact (Ref. Figure 1.0) and up plunge along an interpreted high grade corridor (Ref. Figure 3.0). Results from both holes are summarized in Table 1.0. Table 1.0 - Significant Results Candelones Extension Hole From (m) To (m) Interval (m)(1) Au (g/t) Ag (g/t) Cu (%) Zn (%) LP16-108 164.0 204.0 40.0 0.6 1.5 0.2 0.0 including 190.0 197.0 7.0 1.3 2.2 0.3 0.0 LP16-109 160.0 175.0 15.0 3.2 6.4 0.1 0.7 including 165.0 169.0 4.0 10.1 20.9 0.2 2.4 (1) Interval Width is measured down hole and is not True Width. There is insufficient data to estimate True Width at this time. Joseph Del Campo, Interim President and CEO of Unigold, notes: \"We are very pleased with the initial results from our current exploration drill program. The results support our working model of an easterly plunging system that appears to constrain higher grade mineralization over the defined strike length of the deposit (1,100 metres). These latest results have expanded the footprint of the Candelones Extension deposit to the west where it was originally interpreted to have been truncated. The mineralization remains open to the west offering a potential exploration target for future drill programs. We are continuing the systematic exploration at the three targets identified earlier this year with the objective of increasing the size and grade of the Candelones Extension deposit. The results from this program will be evaluated and targets will be prioritized once this phase of ex...