Base Metals

Unigold Inc. (TSXV:UGD) announced results from exploration drilling at the Candelones Extension deposit, located at its Neita concession in the Dominican Republic.

Unigold Inc. (TSXV:UGD) announced results from exploration drilling at the Candelones Extension deposit, located at its Neita concession in the Dominican Republic.
As quoted in the press release:

The Company has completed four holes at Target B; the second of three targets selected for drill testing (Ref. Figure 1.0). The drilling at Target B included four holes, centered on previous hole LP28 (16.4 g/t Au; 26.7 g/t Ag; 0.3% Cu; 2.4% Zn over 15.0 metres (“m“)). Newly discovered mineralization is contained with a vertical feeder zone of sulphide matrix-supported angular breccias which show clear evidence of multiphase epithermal activity. The best results were intersected in hole LP16-100 which identified two, distinct zones of enrichment. The first, with elevated lead, zinc and silver grades, assayed 2.43 g/t Au; 18.8 g/t Ag; 0.2% Cu and 4.3% Zn over 9.5 m at a depth of 291.1 m from the collar. The second, with elevated gold and copper grades, assayed 7.46 g/t Au; 5.1 g/t Ag; 1.4% Cu and 1.3% Zn over 12.0 m at a depth of 307.5 m from the collar. The zonation may reflect excellent preservation of a classic, telescoping epithermal system.

Joseph Del Campo, interim president and CEO of Unigold, commented:

We are very pleased with these latest results. This is the second target we have drill tested and it is the second target where we have identified strong evidence for vertical feeders and massive sulphides. These results support our suspicion that previous drilling, while successful at identifying a multimillion ounce, low-grade, stratabound deposit, failed to adequately define high-grade feeder zones in this complex epithermal system. The results from Target A and Target B have proven that both massive sulphide mineralization and feeder zones both exist within the bounds of, and were missed by, previous drilling. The grades returned from these two targets are 3 to 4 times higher than the stratabound mineralization and are some of the highest grade intercepts returned in the history of the project. We are very encouraged with the results received to date from Targets A and B. Results are pending from Target C, a further 300 metres to the west. Target C, hosts the highest grade mineralization from historical drilling. We remain very optimistic that our interpretation will lead to similar results that should be available by the end of March.

Click here to read the full Unigold Inc. (TSXV:UGD) press release.

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