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Unigold Resumes Exploration Drill Program Targeting High Grade Systems at the Candelones Extension Deposit
TORONTO, ONTARIO--(Marketwired - June 27, 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 - June 27, 2016) - Unigold Inc. (\"Unigold\" or the \"Company\") (TSX VENTURE:UGD) is pleased to announce that exploration drilling at the Candelones Extension deposit in the Dominican Republic, will resume in July 2016 and continue through to December 2016. The Company's Board of Directors has approved an 8,000 metre drill program to follow up on the favourable results reported earlier this year: Target A (UGD PR#s 2016-01, 2016-02 and 2016-04) - gold and copper rich massive sulphide lenses, approximately 200 metres (length) x 75 metres (width). The upper lens ranges from 5 - 30 metres in thickness, the lower lens ranges between 3 - 8 metres in thickness. Gold grades range from 3.0 to 7.5 g/t; copper grades range between 0.4% to 1.1% (Reference Table 1.0). Target B (UGD PR# 2016-03) - a vertical feeder system with elevated gold, silver and zinc mineralization. Traced over an area measuring 100 metres (length) x 25 metres (width). Thickness ranges between 6.0 to 9.0 metres. Gold grades range from 4.0 to 16.0 g/t; silver grades range from 18.0 to 52.0 g/t (Reference Table 1.0). Target C (UGD PR# 2016-05) - a second vertical feeder system with elevated gold, silver and zinc mineralization. Traced over an area measuring 100 metres (length) x 25 metres (width). Thickness ranges from 5.0 to 10.0 metres. Gold grades range from 5.0 to 11.0 g/t, and silver grades ranged from 2.0 to 90.0 g/t (Reference Table 1.0) . Joseph Del Campo, Interim President and CEO of Unigold notes: \"Our recent financing allows us to continue our systematic exploration of the Candelones Extension deposit, following up on the exciting results reported earlier this year at Targets A, B and C. We have updated our geological model, reviewed the historical data and identified new targets that we will evaluate for the remainder of 2016. We are focused on identifying additional, high grade, feeder systems and massive sulphide lenses; within the currently defined, easterly plunging envelop where drill density is sparse, at depth down plunge to the east of Target A which is untested and at depth below the identified feeder systems at Targets B and C which are also untested. We believe the targets selected offer excellent potential to increase the size and grade of the existing resource. We...