Hole LP20-162 intercepted 84m at 3.91g/t gold from 144m, including 14m averaging 14.94g/t gold, 51g/t silver, 0.3% copper and 3.6% zinc.

"The mineralisation is startlingly consistent and evenly distributed along the intercept length, ranging from 5g/t to 32g/t," chairman and CEO Joe Hamilton said.

He said the hole was the first drilled at the project to test whether the post-mineral mafic dikes might mark fault zones in the host dacit.

The company had converted 80% of the Candelones inferred oxide resource to a measured and indicated 3.43 million tonnes at 0.84g/t gold for 92,000 ounces in an August update.

Inferred was put at 1.61Mt at 0.74g/t for 38,000oz within the same low-strip starter pit.

The company was planning to update the 2015 sulphide resource next, which comprised an inferred 894,000oz and about 40 million pounds of copper.

Eric Sprott holds 15.1% of the company, according to an October presentation.

Unigold had raised C$6 million at 18c per unit in June to advance Neita.

Its shares (TSXV: UGD) have ranged from 10-67c over the past year.

They closed up 46% to 46c on Friday to capitalise it at $58.3 million (US$44.3 million).