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Unigold drilling around the clock

Unigold (TSXV: UGD) has both rigs working around the clock as it targets extensions at the Candelones Extension deposit at its Neita project in the Dominican Republic, now exploration has resumed after a three-year lull.
Unigold drilling around the clock Unigold drilling around the clock Unigold drilling around the clock Unigold drilling around the clock Unigold drilling around the clock

Unigold is drilling at its Neita project in the Dominican Republic

Staff reporter

The latest results, from drilling to primarily collect sample material for metallurgical testing in 2020, included 17m of massive sulphide assaying 7.3g/t gold, 22.5g/t silver and 1.2% copper, while another hole hit three higher-grade intervals within 99m which assayed 3.42g/t gold, 2.8g/t silver and 0.3% copper overall.

Chairman and CEO Joe Hamilton said the results confirmed the continuity of the massive sulphide mineralisation.

"More importantly, the results show minimal grade variation within the massive sulphide which results in startlingly consistent gold and copper grades with no discernible nugget effect and little need for cutting assays," he said.

The results follow an "outstanding" hit from the first 2019 hole, reported earlier this month, of 136.7m assaying 1.94g/t gold and 0.2% copper.

Candelones has a 2013 2 million ounce inferred resource and a 2015 updated, inferred 894,000oz of gold and 41 million pounds of copper for the Candelones Extension deposit.

Unigold resumed exploration at Neita in October, approving a C$2.5 million drilling programme. Previous work was suspended in late 2016 as the company started a renewal process for the concession.

It had raised $3.25 million at 10c per unit in September and welcomed Eric Sprott as a significant new shareholder.

Its shares have ranged from 8.5c in May to 25.5c in October and lost 5c or 20% on Friday to close at 20c, capitalising  it at $15.6 million (US$11.7 million).