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Unigold Inc. (TSXV:UGD) announced an updated mineral resource estimate for the Candelones Extension deposit, located at its Dominican Republic-based Neita concession.
Unigold Inc. (TSXV:UGD) announced an updated mineral resource estimate for the Candelones Extension deposit, located at its Dominican Republic-based Neita concession.
As quoted in the press release:
The updated mineral resource estimate considers underground exploitation of the Candelones Extension deposit, focusing on high grade gold/copper mineralization that occurs as multiple, flat lying to moderately south dipping, sub-parallel lenses, ranging from 3.0 to 6.0 metres in thickness, The high grade lenses lie within the larger mineralized envelope of lower grade gold / copper mineralization that was the focal point of the initial mineral resource estimate for the Candelones Project that was reported in November, 2013 (UGD PR No 2013-22).
Joseph Del Campo, Unigold’s interim president and CEO, commented:
The updated mineral resource estimate represents a first step in our evaluation of the viability of a small to mid-sized underground mine and mill complex at the Candelones Extension deposit where initial drilling has identified higher grade lenses of gold and copper mineralization within the larger, lower grade, near surface resource established in November, 2013. The Company believes that should the economic and technical viability be established underground development offers significant advantages to the initial near surface development model; specifically in terms of reduced capital costs, reduced permitting complexity and a reduced development timeline.
Click here to read the full Unigold Inc. (TSXV:UGD) press release.