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Unigold drills 95.5 m of 1.23 g/t Au at Neita
2020-03-20 07:06 ET - News Release
Mr. Joe Hamilton reports
UNIGOLD INTERSECTS 95.5 METERS AVERAGING 1.23 G/T AU AT CANDELONES EXTENSION DEPOSIT IN THE DOMINICAN REPUBLIC
Unigold Inc. has released results from its continuing drill program at the Candelones Extension deposit, part of the company's 100-per-cent-owned Neita concession in the Dominican Republic.
Drill hole LP20-144 was positioned to target an undrilled area of low interpolated gold values in the historical mineral resource estimate. LP20-144 intersected a broad zone of disseminated mineralization that, like other areas within the pit-constrained resource, is consistent in both grade and continuity. A total of 95.5 metres averaging 1.23 grams per tonne gold, 2.1 g/t silver, 0.10 per cent copper and 0.34 per cent zinc was returned. LP20-144 targeted the area 75 metres below holes LP19-140 (38.0 metres averaging 2.43 g/t Au, 48.2 g/t Ag, 0.15 per cent Cu and 1.66 per cent Zn) and LP19-142 (60.4 metres averaging 1.51 g/t Au, 5.1 g/t Ag, 0.07 per cent Cu and 0.77 per cent Zn).
Joe Hamilton, chairman and chief executive officer of Unigold, noted: "LP20-144 is the third consecutive hole to intersect broad, mineralization at the andesite-dacite contact that was not intersected in the historical, wide-spaced drill pattern. These new intersections lie within 150 metres of surface. Reported grades are elevated relative to our 2013 inferred mineral resource estimate. These holes tested a 100-metre gap in the historical drill coverage and the results exceeded our expectations. We believe there are similar opportunities to drill gaps in the pit-constrained resources that may help to convert the inferred mineral resources to the indicated classification, one of the stated objectives of the current drill campaign. In addition, finding this thickness of mineralization at the eastern end of the pit may allow for a reduction in the historic stripping ratio by converting areas that were previously classified as in-pit waste to mineralized blocks. Once again, the flexibility of this deposit is demonstrated with broad swaths of gold-bearing material surrounding high-grade gold and silver feeder zones. The distribution of grade within the deposit allows both selective and bulk mining methods to be considered in any development scenario."
Farther to the east, drill hole LP20-145B was positioned at the eastern edge of drilling, 50 metres below a previous gold-copper massive sulphide intersection at target A. LP20-145B intersected 4.0 metres averaging 2.00 g/t Au, 1.9 g/t Ag, 0.64 per cent Cu and 0.01 per cent Zn in scattered, stringer sulphide mineralization. The base of the massive sulphide lens is interpreted to lie above LP20-145B. This result continues to suggest that the massive sulphide is relatively flat lying, discordant to the andesite-dacite contact and extends to the east. Additional drilling will be planned in the company's phase 2 program to test the area above and farther to the east of LP50 (18.5 m averaging 2.49 g/t Au, 4.9 g/t Ag, 1.05 per cent Cu, 0.02 per cent Zn).
SUMMARY OF SIGNIFICANT RESULTS Hole ID From To Interval (1) Au Ag Cu Zn AuEq (m) (m) (m) (g/t) (g/t) (%) (%) (g/t) LP20-144 238.50 334.00 95.50 1.23 2.1 0.10 0.34 1.54 including 268.50 292.00 23.50 1.52 1.2 0.07 0.37 1.79 LP20-145B 198.80 202.80 4.00 2.00 1.9 0.64 0.01 2.78 (1) Intervals are reported as drilled length not true width. There are insufficient data at this time to estimate true width.
Quality assurance/quality control
Diamond drilling utilizes both HQ and NQ diameter tooling. Holes are established using HQ diameter tooling before reducing to NQ tooling to complete the hole. The core is received at the on-site logging facility where it is, photographed, logged for geotechnical and geological data and subjected to other physical tests including magnetic susceptibility and specific gravity analysis. Samples are identified, recorded, split by wet diamond saw, and half the core is sent for assay with the remaining half stored on site. A minimum sample length of 0.3 metre and a maximum sample length of 1.5 metres is employed with most samples averaging 1.0 metre in length except where geological contacts dictate. Certified standards and blanks are randomly inserted into the sample stream and constitute approximately 5 to 10 per cent of the sample stream. Samples are shipped to a sample preparation facility in the Dominican Republic operated by Bureau Veritas. Assaying is performed at Bureau Veritas Commodities Canada Ltd.'s laboratory in Vancouver, B.C., Canada. All samples are analyzed for gold using a 50-gram lead collection fire assay fusion with an atomic adsorption finish. In addition, most samples are also assayed using a 36-element multiacid ICP-ES analysis method.
Wes Hanson, PGeo, chief operating officer of Unigold, has reviewed and approved the contents of this press release.
About Unigold Inc.
Unigold is a Canadian-based mineral exploration company traded on the TSX Venture Exchange under the symbol UGD, focused primarily on exploring and developing its gold assets in the Dominican Republic.
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