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Unigold Intersects 8.0 Meters Averaging 16.48 g/t Au at Target C, Candelones Extension Deposit
LP20-160 intersected 8.0 meters averaging 16.48 g/t Au, 57.7 g/t Ag, 0.3% Cu and 0.8% Zn; Consistent mineralization shows most assays between 5 g/t and 42 g/t A
About this update from Unigold Inc.
[{"type":"text","content":" LP20-160 intersected 8.0 meters averaging 16.48 g/t Au, 57.7 g/t Ag, 0.3% Cu and 0.8% Zn; Consistent mineralization shows most assays between 5 g/t and 42 g/t Au Newest intersection is only 125 meters from surface; Highest grades occur at Target C proximal to late mafic dikes; Magnetic mafic dikes appear to be highlighting the location of feeder systems which may allow for more precise drill targeting; Eleven (11) holes totalling 3751 meters have been completed to date. TORONTO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD; OTCQX:UGDIF; FSE: UGD1) is pleased to announce results from its ongoing exploration drilling at the Candelones Extension deposit, part of the Company’s 100% owned Neita Concession in the Dominican Republic. A total of 11 holes (3751 meters) of the planned 15,000 meter drill program have been completed to date. Drilling is currently testing epithermal mineralization at Targets B and C of the Candelones Extension. The proposed drilling is designed to increase the geological confidence for future mineral resource estimates and to test for extensions of the high grade targets at depth and along strike. Drilling at Target C is focused on tracing an interpreted fault structure which has been intruded by a late mafic dike. High grade gold and silver with associated copper and zinc mineralization is localized at or near the contact of the magnetic dike suggesting that this could represent a potential marker horizon to guide future drilling. Joe Hamilton, Chairman and CEO of Unigold notes: “These initial results continue to demonstrate the exploration potential of the Candelones Project and our increasing knowledge base which is evolving with each drill hole. The systems at Candelones remain open, and drilling is identifying new zones in unexpected areas. LP20-160 intersected the high grade mineralization 90 meters higher than anticipated. We interpret that the high grade mineralization is fault offset towards surface in the system. This new intercept is within 125 meters of surface. The location of the mineralization indicates that there is a 150 to 200 meter vertical gap in drill coverage along the andesite-dacite contact below this intercept. The interpreted sub-vertical faulting, intensity of brecciation and presence of mafic dikes make this gap in drill coverage a high p...