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Unigold Exploration Update on Neita Concession in the Dominican Republic

Mining News - Published on Fri, 15 Nov 2019

Image Source: globenewswire.
Unigold Inc announced initial results from the first hole of the company's 2019 Exploration Program at the 100% owned Neita Concession in the Dominican Republic. Mr Joe Hamilton Chairman and CEO of Unigold said "This is an outstanding start to our 2019 exploration program, confirming both the physical continuity of the massive sulphide mineralization as well as the grades reported in the historical drilling. We plan to complete approximately 20,000 meters of drilling over the course of the next six months. Our initial drilling is dedicated to collecting metallurgical bulk samples and increasing the geological confidence of the sulphide and oxide resource. We currently have two drills operating, one focused on the sulphide resource, the other on the near surface oxide resource at the Candelones Connector deposit. On completion of the metallurgical / infill drilling, both drills will shift to expanding the oxide and sulphide resource footprint. The massive sulphide intersections remain open to the east and at depth. Our long term goal is to aggressively work towards an updated mineral resource estimate in 2020. That, combined with the metallurgical test work results, will allow the Company to initiate a Preliminary Economic Assessment of the Candelones Project in H2, 2020, which, in turn, should position the Company to apply for an Exploitation License for the Candelones Project in HI, 2021."

LP19-131M intersected three distinct massive sulphides intervals within a broad mineralized interval that assayed 1.94 g/t Au and 0.2% Cu over 136.7 m. The thickest zone of massive sulphide mineralization assayed 5.67g/t Au and 0.4% Cu over 25.0 meters within a larger interval of 58.4 meters grading 4.05 g/t Au and 0.4% Cu. The package of massive sulphides is preferentially enriched in silver-zinc at the top of the intersection, and transitions to a gold-copper style of mineralization at the base. LP19-131M follows up on our successful 2016 drilling of hole LPMET-01 (6.93 g/t Au; 0.6% Cu over 22.0m - UGD PR# 2016-01) and LP15-95 (6.19 g/t Au; 0.6% Cu over 31.9m - UGD PR# 2016-02)

LP19-131M is the first of three infill drill holes targeting massive sulphide mineralization to provide bulk sample material for metallurgical testing. The holes are positioned to increase the confidence level of the inferred mineral resource by reducing drill separation which should allow the resource to be upgraded to the measured and/or indicated classification. Samples of approximately 200 kgs of split core will be collected and submitted for metallurgical testing to establish a preliminary flow sheet and process plant design.

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Posted By : Yogender Pancholi on Fri, 15 Nov 2019
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