Intersects Near Surface Gold In Dominican Republic
Unigold Inc. (TSXV:UGD) continues to extend mineralisation into undrilled areas east of the known resource envelope at its 100% owned Neita concession in the Dominican Republic.
Holes P21-171 and 173 were collared 250m east of the former limit of the Candelones Extension drilling, with both holes intersecting mineralisation within 50m of surface.
Hole LP21-171, drilled to the south, intersected anomalous mineralisation over 189.5m, averaging 0.56 g/t Au, starting at a depth of 56.5.
Hole LP21-173, drilled to the north from the same setup, intersected 27.7m averaging 0.47 g/t Au, starting at a depth of 29.3m.
Chairman and CEO, Joseph Hamilton, said drilling is on-going with drills also targeting the depth extensions of high-grade mineralisation at Targets B and C, and probing the near-surface mineralisation at Target D.
“These latest results represent the first large step-out drilling to the east of our known resources,” Mr Hamilton said.
“The Candelones Extension mineralisation is a blind target which holds a significant resource of high-grade epithermal mineralisation within a lower grade halo of disseminated mineralisation.
“These latest results show that the mineralizing systems are persistent to the east. No drilling to the east has been conducted since 2016 as we concentrated on expanding high grade zones within areas of known mineralization.
“These current holes indicate the potential to expand the resource footprint of the Candelones Extension over 250 meters to the east, representing a potential 20% increase in strike length of the deposit.
“We believe the latest intercepts define a new zone of near surface mineralisation, initially intersected at surface in hole LP20-169 (125m west) as reported in our Press Release dated March 9, 2021. This newly identified mineralisation is situated 300m vertically above the projected, down plunge continuation of high-grade mineralisation at Target A, the focal point of historical drill programmes. We are re-evaluating the available data to target additional holes in this new area.”
