PFS Engineering On Candelones Oxides Expected At End Of Q1
Unigold Inc. (TSXV:UGD) reports that work is on-going at the Neita concession in the Dominican Republic with oxide pre-feasibility engineering, updated mineral resource estimate of the sulphide mineralisation, along-strike and to-depth expansion drilling at Candelones and drilling of regional exploration targets all in progress.
Chairman and CEO, Joseph Hamilton, Unigold believes that Q1 2021 will be transformational as it completes engineering studies, updates mineral resource estimates and transitions into exploration focused on key regional targets.
“The company is actively pursuing 4 initiatives this year in order to demonstrate the value of the Candelones oxide and sulphide deposits, prove the concept of a mineralised district at Neita, and to develop a partnership with the local communities,” Mr Hamilton said.
“In Q1, we hope to demonstrate the value of Candelones through the oxide project PFS and by increasing the size and confidence of the sulphide mineral resources.
“We have been continuously advancing the Candelones mineralization over the past year through drilling, metallurgical studies and now resource estimation, engineering and cost estimating. Drilling at Candelones will continue throughout 2021 as we test the known mineralization at depth, and probe new targets along strike.
“In Q2, we are planning to start the application process for an exploitation permit at Candelones.
“Also in Q2, our comprehensive sulphide metallurgical testing that is currently underway should allow us to define a process flowsheet for the sulphide plant. We can then complete trade-off studies looking at open-pit and underground options for sulphide extraction.
“Engineering on both oxides and sulphides will continue throughout the year in preparation for starting construction as soon as all permits are assembled, hopefully as early as Q1 of 2022.
“While these studies are necessary to demonstrate the value inherent in our work to date, we are most excited by our transition back into exploration at some of our high priority regional targets. Compilation and prioritisation of 14 regional target areas is underway.
“We now have four drills at Neita, which has enabled us to dedicate a drill to test other target areas along the southern gold trend which extends over 10 km from Candelones in the west through to the Guano target area in the east. This marks the first exploration efforts outside of Candelones since 2012.”
