Significant Drill Results This is going to catch a lot of people off guard I am expecting a possibility of 40 cents today or tommorow alone, thoughts anyone. This is part of the NR today.
TORONTO, ONTARIO--(Marketwire - Jan. 16, 2012) - Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) is pleased to announce additional results from the 2011 drilling program at its wholly owned Candelones Project, Neita Property in the Dominican Republic.
Significant results are reported for drill holes LP17 and LP20. The holes were targeted to extend the known mineralization using Unigold's recently acquired IP survey, combined with improved geological knowledge. Assay results from the core obtained at the Candelones Extension (Lomita Pina) are reported in the table below. The best results are 73.0 m @ 2.36 g/t gold in hole LP17 and 20.0 m @ 2.74 g/t gold plus 37.0 m @ 1.48 g/t gold in hole LP20. The deposit remains open along strike in both directions and down dip.
"These exciting drill results, in terms of their true width, grade consistency, and strike extent - now extending the mineralized zone at the Candelones Extension (Lomita Pina) to nearly 1.0 km in length - show considerable promise at the property," noted Andrew Cheatle, Unigold's new President and Chief Executive Officer. "We are enthusiastically returning to the area and starting the year with a 10,000 m drill program to test both strike and dip extent."