Unigold Extends Mineralization 250 meters to the East Intersecting Near Surface Mineralization Including 18.0 Meters Averaging 2.08 g/t Au
Unigold Inc. Press Release: PR2021-05 March 29, 2021 Page: 1
UNIGOLD INC.
Ste 2704, 401 Bay Street,
P.O. Box 4, Toronto, ON M5H 2Y4
T. (416) 866-8157
www.unigoldinc.com
PR No. 2021-05
Unigold Extends Mineralization 250 meters to the East Intersecting Near Surface
Mineralization Including 18.0 Meters Averaging 2.08 g/t Au
• Candelones mineralization is shown to continue into undrilled areas east
of the known resource envelope;
• LP21-171 and 173 were collared 250 meters east of the former limit of the
Candelones Extension drilling;
• Both holes intersected mineralization within 50 meters of surface;
• LP21-171, drilled to the south, intersected anomalous mineralization over
189.5 meters, averaging 0.56 g/t Au, starting at a depth of 56.5 meters;
• LP21-173, drilled to the north from the same setup, intersected 27.7 meters
averaging 0.47 g/t Au, starting at a depth of 29.3 meters;
• Drilling is on-going with drills also targeting the depth extensions of high
grade mineralization at Targets B and C, and probing the near-surface
mineralization at Target D.
Toronto, Ontario, March 29, 20 21 – Unigold Inc. (“Unigold” or the “Company”) (TSX-
V:UGD; OTCQX: UGDIF; FSE:UGB1) is pleased to report recent drill results from its 100%
owned Neita concession in the Dominican Republic.
Joseph Hamilton, Chairman and CEO of Unigold notes: “ These latest results represent the
first large step-out drilling to the east of our known resources. The Candelones Extension
mineralization is a blind target which holds a significant resource of high grade epithermal
mineralization within a lower grade halo of disseminated mineralization. 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 ar eas 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 mineralization, initially intersected at surface in hole LP20 -169 (125m west)
as reported in our Press Release dated March 9, 2021. This newly identified mineralization is
Unigold Inc. Press Release: PR2021-05 March 29, 2021 Page: 2
situated 300 meters vertically above the projected, down plunge continuation of high-grade
mineralization at Target A , the focal point of historical drill programs. We are re-evaluating
the available data to target additional holes in this new area.”
Table 1 summarizes the results reported herein (Ref. Figure 1.0).
Table 1.0 – Summary Results
Target Hole (#) From(m) To (m) Interva
l (m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Zn
(%)
UNKN LP21-171 56.50 246.00 189.50 0.56 0.70 0.10 0.11
including 57.50 174.00 116.50 0.84 0.94 0.15 0.16
including 85.00 103.00 18.00 2.08 1.10 0.30 0.30
and 159.00 163.00 4.00 4.36 0.60 0.34 0.13
LP21-173 29.30 57.00 27.70 0.47 2.60 0.03 0.15
including 29.30 32.20 2.90 2.31 11.80 0.04 0.10
and 51.00 55.00 4.00 1.35 5.00 1.14 0.83
(1) Interval represents drilled length in meters and not true width.
Holes LP21-171 and 173 were scissored from a common drill platform located 125
meters east of LP20 -169 (154.0 meters averaging 0.58 g/t including 14.0 meters
averaging 2.11 g/t Au) (Ref. Figure 1.0)
The holes targeted the southern edge of a coincident, Induced Polarity chargeability high
– resistivity low anomaly. LP16-129, drilled 150 meters to the north in 2016, targeted the
northern edge of the same geophysical anomaly intersecting (2.1 meters averaging
1.38 g/t Au).
LP21-171, drilled to the south, intersected favourable dacite host rocks starting at a
depth of 57.5 meters downhole. The hole intersected 18.0 meters averaging 2.08 g/t
Au, 1.1 g/t Ag, 0.3% Cu and 0.3% Zn within a broader interval of 116.5 meters
averaging 0.84 g/t Au, 0.9 g/t Ag, 0.15% Cu and 0.16% Zn.
LP21-173, drilled to the north, intersected favourable dacite host rocks at a depth of 29.3
meters downhole intersecting 27.7 meters averaging 0.47 g/t Au, 2.6 g/t Ag, 0.03% Cu
and 0.15% Zn.
The mineralization in both holes is associated with a brecciated, silicified dacite
volcanoclastic with pyrite rich sulphide stockwork veining. Similar mineralization is
observed in LP20 -169 at surface and in LP20-167. C ollectively, these four holes are
interpreted to define a new zone of near surface mineralization, striking east to west and
stratigraphically below the initial mineralization.
Unigold Inc. Press Release: PR2021-05 March 29, 2021 Page: 3
Figure 1.0 – Plan View –Candelones East Extension
Unigold Inc. Press Release: PR2021-05 March 29, 2021 Page: 4
Figure 2.0 – Cross Section Looking West –Candelones East Extension
Unigold Inc. Press Release: PR2021-05 March 29, 2021 Page: 5
QA/QC
Diamond drilling utilizes both HQ and NQ diameter tooling. Holes are established using
HQ diameter tooling before reducing to NQ tooling to complete the ho le. The core is
received at the on-site logging facility where it is, photographed, logged for geotechnical
and geological data and subjected to other physical tests including magnetic
susceptibility and specific gravity analysis. Samples are identified, recorded, split by wet
diamond saw, and half the core is sent for assay with the remaining half stored on site.
A minimum sample length of 0.3 meters and a maximum sample length of 1.5 metres is
employed with most samples averaging 1.0 met ers in length exce pt where geological
contacts dictate. Certified standards and blanks are randomly inserted into the sample
stream and constitute approximately 5-10% of the sample stream. Samples are shipped
to a sample preparation facility in the Dominican Republic opera ted by Bureau Veritas.
Assaying is performed at Bureau Veritas Commodities Canada Ltd.’s laboratory in
Vancouver, B.C. Canada. All samples are analyzed for gold using a 50 gram lead
collection fire assay fusion with an atomic adsorption finish. In additio n, most samples
are also assayed using a 36 element multi-acid ICP-ES analysis method.
Wes Hanson P.Geo., Chief Operating Officer of Unigold has reviewed and approved the
contents of this press release.
About Unigold Inc. – Discovering Gold in the Caribbean
Unigold is a Canadian based mineral exploration company traded on the TSX Venture
Exchange under the symbol UGD, focused primarily on exploring and developing its gold
assets in the Dominican Republic.
For further information please visit www.unigoldinc.com or contact:
Mr. Joseph Hamilton
Chairman & CEO
416.866.8157
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trends that may affect our future operating results, financial position and cash flows, may constitute
forward-looking statements within the meaning of the f ederal securities laws. These statements are
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Unigold Inc. Press Release: PR2021-05 March 29, 2021 Page: 6
results may differ materially. The forward -looking statements contained in this document are made as
of the date hereof and we assume no obligation to update the forward-looking statements, or to update
the reasons why actual results could differ materially from those projected in the forward -looking
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