TORONTO, ONTARIO--(Marketwired - Oct. 30, 2014) - Unigold Inc. ("Unigold" or the "Company")(TSX VENTURE:UGD) is pleased to announce confirmatory and positive metallurgical test results from its Neita Project in the Dominican Republic.
The second metallurgical test results demonstrate and confirm that:
- Gold recovery of 89% and copper recovery of 88% to a sulphide concentrate at 16% mass pull. The concentrate contains no levels of elements that would incur downstream processing penalties
- 30% of the gold recovered in gravity circuit tests
- Results are consistent with initial metallurgical test work reported in 2012
- Multiple final processing solutions to produce either gold doré at site or to pursue in-country concentrate processing remain open to the Company.
"These positive and confirmatory metallurgical test results further demonstrate that gold and copper can be recovered simply to a clean concentrate by proven technologies. Our Candelones Project continues to offer real opportunity and is systematically being de-risked." noted Andrew Cheatle, President and Chief Executive Officer.
In the first quarter of 2014, a total of 225 new drill core samples weighing 1,012 kg (see press release UGD2013-21, October 24, 2013) were sent to SGS-Chile for this test work.
Unigold is now in the position to move ahead on additional advanced metallurgical studies to enhance head grade and to reduce mass-pull. Processing studies are advancing.
John A. Wells, M.A. Sc., an independent metallurgical consultant, was retained by Unigold to oversee the test work at SGS Chile and to confirm the conceptual level flow sheet together with an independent assessment of the gold, silver, copper and zinc recovery. Mr. Wells has extensive industry experience in minerals processing, particularly in the recovery of gold and copper. He has held senior positions in head office consulting, project development and operations with Goldfields Limited, AngloGold Ashanti and Barrick Gold Corporation. Mr. Wells is a Qualified Person for the metallurgical test work at Neita under the definitions established by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.
About Unigold Inc. - Discovering Gold in the Caribbean
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.
Dominican Republic
The Dominican Republic is host to world-class gold and base metal mines and deposits. The government supports development and exploration in the mining sector. In addition, the country has well established Mining Laws and Environmental Laws. Unigold's wholly owned flagship property, Neita is compliant with all mineral and environmental requirements and work is conducted to internationally accepted environmental and social standards. The Neita concession exploration license was renewed in 2012 and is currently in good standing.
For Further Information please visit www.unigoldinc.com.
Forward-looking Statements
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