Unigold Drilling Update on Candelones Extension Deposit
Unigold Drilling Candelones Extension DepositUnigold

Unigold Drilling Update on Candelones Extension Deposit

Unigold Inc announced results from its ongoing exploration drilling at the Candelones Extension deposit, part of the Company’s 100% owned Neita

Unigold Inc announced results from its ongoing exploration drilling at the Candelones Extension deposit, part of the Company’s 100% owned Neita Concession in the Dominican Republic. The Company has completed 32 drill holes (10,070 m) of the planned 15,000 meter program including 9 holes (243 meters) at the Candelones Main and Connector zone targeting oxide and transition mineralization for additional metallurgical test work. Drilling has moved to test the both the eastern and western extensions of mineralization in sparsely drilled areas.

Joe Hamilton, Chairman and CEO of Unigold noted “The lack of assay results has hampered the positioning of new drill holes. Our technical teams pivoted to using drillholes to test structural ideas in the gaps between Targets A, B and C while continuing to target the best mineralisation in the footwall below the andesite-dacite contact. The results have not only extended Target C a further 75 metres to depth but have shown that high-grade mineralization is possibly down-dropped in this area. These interpretations have given the Company new hope for finding more epithermal mineralization between Targets C and B. We have commenced exploration drilling through the 1500 meter gap west of Target C, towards the Candelones Hill mineralization. We are targeting the interpreted andesite-dacite contact based on recent re-interpretation of the airborne electromagnetic dataset. This area has been sparsely drilled close to surface and the depth potential has never been probed. To the east, the area between Target A and B has always shown a lack of significant results. Our latest drillhole suggests that mineralization may also be drop-faulted through this area to depths that are difficult to attain with our current drill fleet. Instead we have transitioned to testing the extension of Target A to the northeast where no drilling exists. Our plan is to establish pre-drilled collars to a maximum hole depth of 500 meters, leave casing in these pre-drilled collars and deepen these holes once our new drills clear Customs and become operational.”

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