Unigold Inc. (TSXV:UGD) is continuing to explore the Neita Concession in the Dominican Republic and to advance the Candelones deposit. After completing a mineral resource estimate in November last year, Unigold is now conducting metallurgical testing and aims to begin a Preliminary Economic Assessment later in 2014.
As quoted in the press release:
Exploration within the highly prospective Tireo Formation ‘belt’ in the Dominican Republic, has recently, identified approximately 5.0 million gold equivalent ounces. The Tireo Formation ‘belt,’ is a 40 km wide sequence of intermediate volcanic and volcanoclastic rocks that bisects the island of Hispaniola and which has seen limited modern exploration. Approximately 85% of exploration expenditures to date at Neita have focused on the Candelones – Guano trend which strikes ENE along the southern half of the Concession (Figure 2). With the successful completion of the initial mineral resource estimate at Candelones, the Company is also focusing its efforts in 2014 towards a “new” discovery.
Unigold CEO, Andrew Cheatle, said:
We are very excited to have a significant land position in what is rapidly emerging as one of the premier exploration districts in the world today. With our maiden mineral resource estimate completed, and additional metallurgical testing underway we can now focus on making a new discovery in the Dominican Republic while simultaneously advancing Candelones. We are confident that our field programs and data analyses will allow us to effectively prioritize target areas to maximize the efficiency of our future drilling, which we expect to resume by mid-2014.