Unigold Intersects 14.0 Meters Averaging 14.94 g/t Au at Target C, Candelones Extension Deposit
Unigold Inc. Press Release: 2020-23, OCT 23, 2020 1
UNIGOLD INC.
P.O. Box 936, STN Adelaide, Toronto, ON, Canada, M5C 2K3
T. (416) 866-8157
www.unigoldinc.com
PR No. 2020-23
Unigold Intersects 14.0 Meters Averaging 14.94 g/t Au at Target C, Candelones
Extension Deposit
• LP20-162 intersected 14.0 meters averaging 14.94 g/t Au, 51.6 g/t Ag, 0.3%
Cu, 3.6% Zn and a second interval of 6.0 meters averaging 10.30 g/t Au, 5.0
g/t Ag, 0.3% Cu and 1.7% Zn;
• The mineralization is localized at the upper and lower contact of a
magnetic mafic dike which was targeted as a potential marker unit;
• The high-grade mineralization is within 100 meters of surface;
• The results suggest that the magnetic mafic dikes may be highlighting the
location of epithermal feeder systems.
Toronto, Ontario, October 23, 2020 – Unigold Inc. (“Unigold” or the “Company”) (TSX-
V:UGD; OTCQX:UGDIF; FSE:UGD1) is pleased to announce results from its ongoing
exploration drilling at the Candelones Extension deposit, part of the Company’s 100%
owned Neita Concession in the Dominican Republic.
Drilling continues to test potential epithermal feeder systems at Targets B and C of
the Candelones Extension deposit. The Company has completed 12 drill holes (4742
m) of the planned 15,000 meter program (Ref: Figure 1). Drilling at Target C is focused
on tracing an interpreted fault structure which has been intruded by late mafic
dike(s). High-grade gold and silver mineralization is localized at or near the contact
of the magnetic dike suggesting that this could represent a potential marker horizon
to guide future drilling.
Joe Hamilton, Chairman and CEO of Unigold notes: “ LP20-162 is the first hole drilled
that tests whether the post-mineral mafic dikes may mark fault zones in the host dacite.
These fault zones likely served as brecciated conduits for epithermal mineralization. Our
exploration model suggest s that these mafic dikes, in addition to defining potential
conduits, also remobilized mineralization and concentrated it along the contact of the
dikes. The mineralization is startlingly consistent and evenly distributed along the
intercept length, ranging from 5.0 g/t to 32.0 g/t. This intercept is within 100 meters of
surface.”
Unigold Inc. Press Release: 2020-23, OCT 23, 2020 2
LP20-162 was a scissor hole drilled to t he south and intended to confirm the
geometry of the dike at Target C in addition to providing enough material for further
metallurgical testing. The hole intersected target mineralization as planned along the
contact of a n interpreted, sub-vertical, post -mineralization mafic dike . These late
stage mafic dikes a ppear to define fault zones that were active over a prolonged
period and served as conduits for multiple mineralization events. The upper (above
146 m) and lower contacts (below 189 m) of the coarse grained epithermal
mineralization are sharp and can be defined both by assays and visually. The dyke
and the epithermal mineralization overprints the ubiquitous fine -grained, lower -
grade disseminated mineralization that is found deeper in the hole.
Table 1.0 – Significant Results LP20-162
Target Hole (#) From(m) To (m)
Interval
(m) Au (g/t) Ag (g/t) Cu (%) Zn (%)
C LP20-162 144.00 228.00 84.00 3.91 9.9 0.10 0.90
including 146.00 160.00 14.00 14.94 51.6 0.30 3.60
and 183.00 189.00 6.00 10.30 5.0 0.30 1.70
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 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. standard sample length of 1.0 metres is employed .
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 Do minican 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 fusion with an atomic adsorpt ion 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.
Unigold Inc. Press Release: 2020-23, OCT 23, 2020 3
Figure 1: Longitudinal Section looking North
0 100 200
meters
0 100 200
meters
2013 TO 2020 DRILL INTERCEPTS
0 100 200
meters
LP15-96 34.0 m @ 4.15
LP20-147 30.0 m @ 9.02
LP16-124 5.9 m @ 11.8
LP20-150 10.5 @
12.94
LP20-148 18.5 @ 10.18
LP20-146 9.5 @ 14.14
LP20-160 8.0 @ 16.48
Completed – Assays Pending
TARGET D ?
LP20-162 14.0 @ 14.94
Unigold Inc. Press Release: 2020-23, OCT 23, 2020 4
Table 2.0 – All Results LP20-162
From To Interval Au (g/t) Ag (g/t) Cu (%) Zn (%) From To Interval
Au
(g/t)
Ag
(g/t) Cu (%) Zn (%)
144.0 145.0 1.0 0.35 2.7 0.0 0.0 195.0 196.0 1.0 1.09 0.3 0.0 0.0
145.0 146.0 1.0 1.33 3.9 0.0 0.0 196.0 197.0 1.0 0.24 0.3 0.0 0.0
146.0 147.0 1.0 5.48 18.0 0.0 0.2 197.0 198.0 1.0 0.05 0.3 0.0 0.0
147.0 148.0 1.0 32.50 189.9 0.2 0.9 198.0 199.0 1.0 0.03 0.3 0.0 0.0
148.0 149.0 1.0 12.40 38.7 0.0 0.2 205.0 206.0 1.0 7.61 5.5 0.1 1.0
149.0 150.0 1.0 20.60 78.8 0.2 2.1 206.0 207.0 1.0 2.11 2.7 0.1 0.7
150.0 151.0 1.0 24.10 114.1 0.4 3.8 207.0 208.0 1.0 1.49 2.5 0.0 0.1
151.0 152.0 1.0 11.30 64.0 0.2 1.5 208.0 209.0 1.0 0.75 1.6 0.0 0.1
152.0 153.0 1.0 0.75 9.2 0.0 0.0 209.0 210.0 1.0 2.51 1.5 0.0 0.2
153.0 154.0 1.0 9.70 89.4 0.4 8.6 210.0 211.0 1.0 4.55 2.6 0.1 0.7
154.0 155.0 1.0 20.30 52.5 0.5 10.1 211.0 212.0 1.0 1.32 1.1 0.1 0.1
155.0 156.0 1.0 20.60 33.7 0.5 10.2 212.0 213.0 1.0 1.79 1.7 0.2 0.1
156.0 157.0 1.0 7.40 10.1 0.2 3.6 213.0 214.0 1.0 2.33 2.6 0.3 0.5
157.0 158.0 1.0 9.89 7.1 0.2 1.9 214.0 215.0 1.0 0.96 1.6 0.1 0.0
158.0 159.0 1.0 10.50 7.0 0.2 3.2 215.0 216.0 1.0 3.11 3.6 0.2 1.2
159.0 160.0 1.0 23.70 9.4 0.5 3.6 216.0 217.0 1.0 2.36 3.9 0.1 1.0
146.0 160.0 14.0 14.94 51.6 0.3 3.6 217.0 218.0 1.0 1.89 3.3 0.1 0.8
Mafic Dike 218.0 219.0 1.0 3.46 7.2 0.2 1.0
183.0 184.0 1.0 9.62 13.3 0.2 3.8 219.0 220.0 1.0 0.94 2.1 0.1 0.1
184.0 185.0 1.0 8.01 2.9 0.2 1.2 220.0 221.0 1.0 1.61 3.6 0.1 0.5
185.0 186.0 1.0 7.77 3.1 0.3 0.7 221.0 222.0 1.0 1.31 3.7 0.1 0.8
186.0 187.0 1.0 10.90 4.4 0.4 0.8 222.0 223.0 1.0 1.86 4.4 0.2 1.9
187.0 188.0 1.0 12.90 2.7 0.2 0.5 223.0 224.0 1.0 0.71 1.4 0.0 0.1
188.0 189.0 1.0 12.60 3.3 0.3 3.4 224.0 225.0 1.0 0.54 1.6 0.1 0.0
183.0 189.0 6.0 10.30 5.0 0.3 1.7 225.0 226.0 1.0 0.93 1.6 0.1 0.1
192.0 193.0 1.0 2.14 0.8 0.1 0.2 226.0 227.0 1.0 1.53 2.7 0.1 0.4
193.0 194.0 1.0 2.49 0.7 0.1 0.1 227.0 228.0 1.0 1.76 9.3 0.1 0.7
194.0 195.0 1.0 2.54 0.5 0.0 0.1 144.0 228.0 84.0 3.91 9.9 0.1 0.9
Unigold Inc. Press Release: 2020-23, OCT 23, 2020 5
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
T. (416) 866-8157
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