Unigold Identifies NEW, Near Surface, High Grade Mineralization at Candelones Extension
Unigold Inc. Press Release: PR2021-04 March 9, 2021
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UNIGOLD INC.
Ste 2100, 401 Bay Street,
P.O. Box 55, Toronto, ON M5H 2Y4
T. (416) 866-8157
www.unigoldinc.com
PR No. 2021-04
Unigold Identifies NEW, Near Surface, High Grade Mineralization at Candelones
Extension
• LP20-167 intersected 12.0 meters averaging 5.9 g/t Au and 18.0 g/t Ag in a
new zone of mineralization east and stratigraphically above Target A;
• LP20-167 intersected anomalous disseminated mineralization over 328
meters, averaging 1.2 g/t Au;
• LP20-169 intersected a new zone of blind oxide mineralization just below
the collar at surface, returning 14.0m @ 2.11 g/t Au.
• LP20-169 intersected two broad zones of mineralization, the first extending
from surface to 154 meters averaging 0.58 g/t Au and a second, deeper
interval of 43 meters averaging 0.76 g/t Au;
• All mineralized intervals lie outside the current mineral resource
optimization limit;
• Both holes intersected Target A as planned with LP20-167 returning 33.0m
@ 4.89 g/t Au with 0.4% Cu and LP20-169 reporting 26.0m averaging 0.97 g/t
Au with 0.11% Cu;
• Both holes will be extended to intersect Target B at depth.
Toronto, Ontario, March 9, 2021 – 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: “The latest results substantiate our
belief that there continues to be e xceptional discovery potential within the immediate
Candelones area. This new zone (“E”), sub-crops to within 2.0 meters of surface, persists over
150 meters downhole and is open in all directions. This was a blind discovery, similar in all
aspect to Targe ts A, B and C of the Candelones Extension . The only surficial evidence in the
area originates from scattered rock geochemistry samples returning +1.0 g/ Au , largely
mapped as float samples collected downslope from the Candelones Extension ridgeline.
Unigold Inc. Press Release: PR2021-04 March 9, 2021 2
These latest holes , along with the previously reported LP 20-165, were drilled along a SW
alignment, to evaluate interpreted structural offsets. This SW alignment also allowed us to
intersect Target B at depth, well below the 2013 resource limit, something that wasn’t possible
with a NW drill alignment due to drill access challenges.
The discovery of Target E suggests potential to continue to expand the resource footprint to
the east, especially considering the mineralization sub -crops to within 2.0 meters of surface
and extends for over 100 meters. We have decided to dedicate a diamond drill to this recent
discovery and are planning step out holes to evaluate the near surface Target E discovery .
Our other drills remain active at Target B and C following our current program of probing the
depth extent of these two high-grade zones.”
Table 1 summarizes the results reported herein (Ref. Figure 1.0 and 2.0).
Table 1.0 – Summary Results
Target Hole (#)
From
(m) To (m)
Interval
(m) (1) Au (g/t) Ag (g/t) Cu (%) Zn (%)
E LP20-167 (2) 142.00 470.00 328.00 1.20 2.30 0.12 0.13
including 142.00 229.00 87.00 1.58 6.21 0.04 0.41
including 185.00 197.00 12.00 5.89 18.00 0.06 0.87
A and 292.00 378.00 86.00 2.65 1.79 0.30 0.00
including 323.00 356.00 33.00 4.89 2.56 0.40 0.00
including 339.00 350.00 11.00 5.96 3.07 0.50 0.00
E LP20-169 (3) 2.00 156.00 154.00 0.58 1.95 0.11 0.14
including OXIDE 2.00 16.00 14.00 2.11 8.20 0.08 0.10
including OXIDE 4.00 11.00 7.00 3.74 14.50 0.11 0.12
A and 333.00 376.00 43.00 0.76 1.14 0.13 0.04
including 340.00 366.00 26.00 0.97 1.29 0.11 0.06
(1) Interval represents drilled length in meters and not true width.
(2) Drilled interval reported includes 44.0m of barren dike material, the grade of which has been assumed to
be 0.00 for all metals.
(3) Drilled interval reported includes 10.0m of barren dike material, the grade of which has been assumed to
be 0.00 for all metals.
Holes LP20-167, LP20-169 and LP20-165 (previously reported in PR 2021-03), were drilled
as a fence of holes in a SW direction, perpendicular to the dominant NW drill orientation.
This alignment roughly parallels the andesite -dacite contact which is interpreted to
control the low-grade mineralization halo. The holes were designed to test interpreted
high-angle northwest to northeast trending fault zones that disrupt the high grade
mineralization at both Targets A and B while providing intersections of both Target A and
Unigold Inc. Press Release: PR2021-04 March 9, 2021 3
Target B . All three holes intersected evidence of faulting (Ref. Figure 2.0) which is
currently being assessed prior to positioning follow-up drill holes.
LP20-167 intersected 12.0 meters averaging 5.89 g/t Au, 18.0 g/t Ag, 0.06% Cu and
0.9% Zn within a broader interval of 87.0 meters averaging 1.58 g/t Au, 6.2 g/t Ag,
0.0% Cu and 0.4% Zn . M ineralization is associated with quartz -barite flood ing and
fracture fill ing. The typical pyrite-dominant massive sulphide s that are commonly
observed at Target A are conspicuously absent in this intersection, which suggests that
this is a distinct zone of mineralization. Elevated Ag and Zn results with depleted Cu
values imply that this zone is most likely not a fault offset of Target A .
LP20-167 intersected Target A further down-hole, returning 33.0 meters averaging 4.89
g/t Au, 2.6g/t Ag, 0.4% Cu and 0.0% Zn within a broader interval of 86.0 meters
averaging 2.65 g/t Au, 1.8 g/t Ag, 0.3% Cu and 0.0% Zn . Pyrite rich semi-massive
sulphide dominates this interval, as expected, at Target A. Both intervals are outside of
the optimized pit shell used to constrain the current mineral resource estimate.
LP20-169 intersected a new zone of oxide mineralization with 14.0m averaging 2.11 g/t
Au, 8.2 g/t Ag, 0.08% Cu and 0.1% Zn . Below this intersection, disseminated sulphide
mineralization continued, returning 154.0 meters averaging 0.58 g/t Au, 1.95 g/t Ag,
0.11% Cu and 0.14% Zn starting at a depth of 2.0 meters down hole. This upper interval
is intensely oxidized to a depth of 20.0 meters. The lack of pyrite -rich sulphides and
presence of quartz and barite floods and fracture filling suggest this zone correlates to
the mineralization initially intersected in LP20-167.
LP20-169 intersected Target A where initially anticipated, at a depth of 340 meters down
hole returning 26.0 meters averaging 0.97 g/t Au, 1.3 g/t Ag, 0,1% Cu and 0.06% Zn .
Pyrite rich , net-textured massive sulphide is visually observed within this interva l,
suggesting that this hole passed beneath the main part of Target A.
The Company continues to have four active drills. The first phase drill program at the
Montazo regional exploration target has been completed. This diamond drill will be
moved back to Candelones to help with the exploration to the east of known
mineralization. Future results will be released as they become available.
Unigold Inc. Press Release: PR2021-04 March 9, 2021
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Figure 1.0 – Plan View – Target A, B and E - Candelones Extension Deposit
Unigold Inc. Press Release: PR2021-04 March 9, 2021 5
Figure 2.0 – Section Looking NW – Target A, B and E - Candelones Extension Deposit
Unigold Inc. Press Release: PR2021-04 March 9, 2021
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QA/QC
Diamond drilling utilizes both HQ and NQ diameter tooling. Holes are established using
HQ diameter tooling bef ore reducing to NQ tooling to complete the hole. 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 except 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 operated 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 fus ion with an atomic adsorption finish. In addition, 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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Unigold Inc. Press Release: PR2021-04 March 9, 2021 7
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