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Unigold Intersects 58.4 metres averaging 4.05 g/t Au with 0.4% Cu at Candelones Extension Deposit in the Dominican Republic
TORONTO, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to announce initial results from the first hole of t
About this update from Unigold Inc.
[{"type":"text","content":" TORONTO, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to announce initial results from the first hole of the Company’s 2019 Exploration Program at the 100% owned Neita Concession in the Dominican Republic. LP19-131M intersected three distinct massive sulphides intervals within a broad mineralized interval that assayed 1.94 g/t Au and 0.2% Cu over 136.7 m (Ref. Table 1.0). The thickest zone of massive sulphide mineralization assayed 5.67g/t Au and 0.4% Cu over 25.0 meters within a larger interval of 58.4 meters grading 4.05 g/t Au and 0.4% Cu. The package of massive sulphides is preferentially enriched in silver-zinc at the top of the intersection, and transitions to a gold-copper style of mineralization at the base. LP19-131M follows up on our successful 2016 drilling of hole LPMET-01 (6.93 g/t Au; 0.6% Cu over 22.0m – UGD PR# 2016-01) and LP15-95 (6.19 g/t Au; 0.6% Cu over 31.9m - UGD PR# 2016-02) (Ref. Figure 1.0). LP19-131M is the first of three infill drill holes targeting massive sulphide mineralization to provide bulk sample material for metallurgical testing. The holes are positioned to increase the confidence level of the inferred mineral resource by reducing drill separation which should allow the resource to be upgraded to the measured and/or indicated classification. Samples of approximately 200 kgs of split core will be collected and submitted for metallurgical testing to establish a preliminary flow sheet and process plant design. The metallurgical test work will be completed under the direction of Richard Gowans, P.Eng., President and Principal Metallurgist, Micon International Ltd. Results will be reported in 2020. Joe Hamilton, Chairman and CEO of Unigold notes: “This is an outstanding start to our 2019 exploration program, confirming both the physical continuity of the massive sulphide mineralization as well as the grades reported in the historical drilling. We plan to complete approximately 20,000 meters of drilling over the course of the next six months. Our initial drilling is dedicated to collecting metallurgical bulk samples and increasing the geological confidence of the sulphide and oxide resource. We currently have two drills operating, one focused on the sulphide resource, the other on the near surface oxide resource at the Candelo...