Unigold Submits Application for Exploitation Licence - Application for a 9,990 ha Exploitation Licence encompassing the known gold deposits at Candelones has been submitted and accepted as complete
- Results from Run-of-Mine column tests demonstrate recoveries of 95% after 90 days, exceeding PEA assumptions.
- Column test results indicate potential to reduce reagent costs.
- Results received to date for Q4/2021 oxide drilling confirm modeled grades. Over 92% of the oxide holes completed contain strongly oxidized dacite breccia
- Initiation of detailed site surveys and geotechnical work to support the Heap Leach Facility design has commenced
- Field work to support the Environmental and Social Impact Assessment has commenced
TORONTO, March 01, 2022 (GLOBE NEWSWIRE) -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD; OTCQX: UGDIF; FSE:UGB1) is pleased to provide an update on activities at its 100% owned Neita concession in the Dominican Republic.
Joseph Hamilton, CEO, commented, “The filing of an application for the Exploitation Licence over the southern half of the existing Neita Concession is a significant milestone for the Company. Our strategy for the delivery of a small footprint, low-capital oxide project at Candelones is intended to introduce mining to the local communities while allowing us to build capacity and infrastructure that can be used to develop the larger sulphide resource in the future. The large-diameter column test work returned encouraging results that will likely lead to enhanced project economics. Environmental, geotechnical and community programs have commenced and, in conjunction with our completed oxide drilling program, will contribute to our stated objective of delivering a final feasibility study and environmental impact assessment in the third quarter of this year.”
Unigold Submits Application for Exploitation Licence; Updates results from Oxide metallurgical tests