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Unigold Provides Update on 15,000 meter Drill Program in the Dominican Republic
TORONTO, July 15, 2020 (GLOBE NEWSWIRE) -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to provide an update on the status of its exploratio
About this update from Unigold Inc.
[{"type":"text","content":" TORONTO, July 15, 2020 (GLOBE NEWSWIRE) -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to provide an update on the status of its exploration program at the Neita Concession in the Dominican Republic. The Company completed 48 diamond drill holes (10,087 meters) as of March 15, 2020, when travel restrictions to limit the spread of COVID in Canada and the Dominican Republic forced the suspension of active exploration drilling. Two holes (97 meters) were in progress at the time of the suspension with both holes targeting extensions to the high grade epithermal feeder zones at Targets B and C respectively. Significant results for the project to date are summarized in Tables 1.0 (Candelones Sulphide Drilling) and 2.0 (Candelones Oxide Drilling). Joseph Hamilton, Chairman and CEO of Unigold notes: “We are anxious to resume active exploration at our Neita Concession. The results from earlier this year are very encouraging. We believe we have successfully upgraded portions of the current inferred mineral resource to the measured and indicated classification. Our preliminary metallurgical results suggest that the at-surface oxide resource may be amenable to heap leach recovery, with 80% gold recovery in 72 hours during column leach tests. Flotation recoveries of gold range from 92 to 97% with gravity recoveries ranging from 13 to 53%. Leaching of flotation concentrates yielded gold recoveries ranging from 30% to 88% with the best recoveries originating from the late stage, epithermal mineralization at Target B, which remains open at depth. Mineralogically, there are similarities between Targets B and C and our follow-up exploration for the remainder of the year will focus on expanding the known mineralization and transitioning into prospective, weakly drilled areas along strike. We expect active exploration drilling will resume by July 31, 2020. Early Q3 drilling will be focused on Targets B and C before transitioning to exploration drilling along the structural trends identified to date. We also plan to initiate work on a Pre-Feasibility Study of the oxide mineralization, positioning the Company to apply for an Exploitation Permit in the near future.” The Company is targeting July 31, 2020 to resume active exploration. Initial drilling will be focused on expanding Targets B and C, both of which are currently i...