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TORONTO, Feb. 6 /CNW/ - Unigold Inc. ("Unigold" or the "Company") (TSX-V: UGD) is pleased to announce that it has received new gold results from drilling its 100-per-cent-owned Los Candelones deposit in the Dominican Republic. Drill holes number DC-52, DC-54 and DC-58 provide a good example of the western extension of the core zone over 1 g/t demonstrating the on strike and down dip continuation of the gold mineralization.
Unigold is also pleased to announce that it has signed a contract for an airborne geophysical survey starting at the beginning of March 2007 with FUGRO Airborne Surveys Corp. The survey is to be conducted on the Neita and Sabaneta properties and will be flown at 200-metre flight gridlines. The survey will encompass approximately 2,600 line kilometres and will consist of magnetic, electromagnetic and radiometric readings.
Unigold has also received an acceptable proposal from SGS Minerals Services (Lakefield) for an investigation into cyanidation of the Los Candelones ore. Work will commence mid-February 2007.
Drill Hole From To Length Grade
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DC-52 58m 83m 25m 1.1 g/t
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DC-53 23m 34m 11m .58 g/t
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84m 95m 11m .63 g/t
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DC-54 62m 117m 55m .81 g/t
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incl 87m 110m 23m 1.3 g/t
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DC-55 74m 100m 26m .50 g/t
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incl 74m 81m 7m .65 g/t
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DC-56 85m 92m 7m .74 g/t
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DC-57 90m 124m 34m .70 g/t
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DC-58 111m 151m 40m .70 g/t
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incl 119m 140m 21m 1.1 g/t
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Assays were done at the SGS laboratory in Toronto by fire assay procedure and gravimetric finish and the reported length represents true width section.
The foregoing scientific and technical information has been prepared or reviewed by Daniel Danis, M.Sc., the Vice-President and Chief Operating Officer of Unigold. Mr. Danis is a "qualified person" within the meaning of National Instrument 43-101.
In addition, Unigold is pleased to announce its attendance as an exhibitor at the upcoming World Money Show in Orlando, Florida from February 7-10, 2007. Daniel Danis, the Company's Chief Operating Officer and Vice-President of Exploration, will be on hand to answer any questions.
About Unigold Inc.
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Unigold Inc. is exploring to find and develop gold deposits on its 100-per-cent-owned 226 km(2) Neita property located in the Dominican Republic. Having the largest land package in the Dominican Republic, the goal is to target bulk tonnage, open pittable, oxide gold deposits within a similar setting to the world class Pueblo Viejo gold project which occurs within a broad northwest trending Cretaceous age volcanic greenstone belt that transects the Dominican Republic. The economics of any discovery will be significantly improved by the fact that Unigold is benefiting from an 18-year holiday on all corporate taxes, sales taxes and import duties in the Dominican Republic.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
Certain statements contained in this document, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You can identify these forward-looking statements by the use of words like "strategy", "expects", "plans", "believes", "will", "estimates", "intends", "projects", "goals", "targets", and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions and that actual events or results may differ materially. The forward-looking statements contained in this document are made as of the date hereof and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements. Where applicable, we claim the protection of the safe harbour for forward-looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995.
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