Unigold Intersects 15.3 meters averaging 5.75 g/t Au at the Candelones Extension Deposit in the Dominican Republic
UNIGOLD INC.
P.O.Box 936, STN Adelaide, Toronto, Canada M5C 2K3
T. 416.866.8157
www.unigoldinc.com
PR No. 2020-02
Unigold Intersects 15.3 meters averaging 5.75 g/t Au at the Candelones
Extension Deposit in the Dominican Republic
Toronto, Ontario, Jan 24, 20 20 – Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to
announce results from its ongoing drill program at the Candelones Extension deposit, part of the Company’s
100% owned Neita Concession in the Dominican Republic.
Hole LP19- 137, testing massive sulphide mineralization at Target A (Ref. Figures 1.0 and 2.0); intersected
massive to semi-massive mineralization over 15.3 meters that graded 5.75 g/t Au and 0.52% Cu within a
larger 43.1 meter interval that averaged 2.79 g/t Au and 0.25% Cu.
Joe Hamilton, Chairman and CEO of Unigold notes: “Results continue to demonstrate the sulphide potential of
the Candelones Extension deposit. All the holes completed to date, with the exception of LP19-136 which was
lost during drilling, have returned intercepts of approximately 100 meters in drilled length at average grades
in excess of 1.0 g/t Au. More importantly, these holes have also returned drilled intervals of several tens of
meters averaging 4.0 to 6.0 g/t Au. These results are some of the best to date at the Candelones Extension
deposit and once again show minimal variability in terms of grade and geometry within the gold-copper rich
massive sulphide target. We have completed the metallurgical bulk sample collection and have switched ou r
focus towards infill drilling to the east, tracing the defined massive sulphide trend at Target A. Our second drill
is focused on step out holes probing the vertical extent of Target B. We were particularly encouraged to note
the presence of gold and copper rich massive sulphide mineralization at Target B, intersected in hole LP19-135.
This suggests that there may be potential for the two high grade systems to coalesce at depth. We believe that
the 500 meter distance between Target B and Target A is now prospective for extensions of the system at
depth. We are also encouraged by the observation that both gold grade and interval lengths are increasing
as we track deeper at Target B.”
LP19-137 was targeted to bisect holes LP15-95 (6.19 g/t Au, 0.6% Cu over 34.0 meters) and LP15-96 (4.15 g/t
Au. 0.4% Cu over 34.0 meters). LP19-136 was targeted 75 meters below LP19-135 (6.03 g/t Au, 4.9 g/t Ag,
0.31% Cu and 0.10% Zn over 23.7 meters) but failed to reach target depth and was lost just as it entered the
zinc-rich boundary of the mineralized zone.
Unigold Inc. Press Release: Jan. 24, 2020 2
Table 1.0 summarizes the results for the two holes reported herein.
Table 1.0 – Summary of Significant Results
(1) All intervals are reported as drilled length not true width. There is insufficient data at this time to estimate true width.
(2) MS denotes massive sulphide mineralization; SMS denotes SMS mineralization.
Figure 1.0 – Plan View – Candelones Extension Plan View Targets A and B
From (m) To (m) Interval(1) (m) Au (g/t) Ag (g/t) Cu (%) Zn (%)
LP19-136 326.50 452.60 126.10 0.10 0.38 0.03 0.16
including 346.50 351.50 5.00 0.18 1.27 0.11 1.70
LP19-137 258.20 393.50 135.30 1.28 1.05 0.14 0.00
including MS - SMS 284.00 327.10 43.10 2.79 1.80 0.25 0.00
including MS - SMS 284.00 296.60 12.60 1.97 1.45 0.15 0.00
andincluding MS - SMS 306.50 321.80 15.30 5.75 3.74 0.52 0.00
Hole ID
Unigold Inc. Press Release: Jan. 24, 2020 3
Figure 2.0 – Cross Section – Target A; Candelones Extension (Looking East)
Historical drilling of the Candelones Extension mineralization focused on the northeasterly trending andesite-
dacite contact. The contact dips to the south at 30 to 70° (Ref. Figures 2 .0 and 3.0). The initial drilling at the
Candelones Extension deposit (2010-2013) targeted the andesite – dacite contact as mineralization was
interpreted to be stratigraphically controlled and sub-parallel to the contact, with grades decreasing as the
distance from the contact increased. By 2013, approximately 420 holes (97,000 meters) of diamond drilling
had been completed, largely targeting the andesite – dacite contact, resulting in a nominal 100 x 100 meter
drill spacing. An initial 43-101 mineral resource estimate, published in 2013 and prepared by Micon
International Ltd., estimated an inferred mineral resource of approximately 39.5 million tonnes averaging 1.6
g/t Au containing approximately 2.0 million ounces of gold within an optimized pit shell based on a gold price
of US$1,500 per ounce (Ref. UGD PR# 2013-22, November 12, 2013).
Unigold Inc. Press Release: Jan. 24, 2020 4
Figure 3.0 – Cross Section – Target B; Candelones Extension (Looking East)
In 2015, the Company initiated a drill program targeting higher grade results within the open pit resource
footprint at the Candelones Extension deposit. This drilling intersected a pyrite rich massive sulphide zone
ranging in thickness between 10 to 30 meters with gold and copper grades 3 to 5x higher than the average
grade of the 2013 Inferred Mineral Resource. Grades were strikingly consistent, ranging from 2.0 to 10.0 g/t
Au through the massive sulphide mineralization (Target A – Ref. Figure 4.0). The massive sulphides are
currently interpreted to strike east-northeast and appear to be relatively flat lying with a plunge of 30° to the
northeast. Drilling to date has traced the massive sulphide mineralization along a 350 meter strike length with
holes spaced roughly 75 meters along strike.
Two additional targets (B and C – Ref. Figure 4.0) were also identified; both appear to be sub-vertical, zoned
polymetallic zones that returned highly anomalous zinc, silver, lead, copper and gold.
Unigold Inc. Press Release: Jan. 24, 2020 5
Figure 4.0 – Longitudinal Projection Section A – A’ (Looking North)
On October 3, 2019, the Company announced a 20,000 meter exploration drill program. The primary objectives
of this drill program are to provide sufficient, representative mineralization of both the oxide and sulphide
mineralization for metallurgical testing; infill drilling to support a measured and indicated mineral resource
estimate and exploration drilling to increase the mineral resource.
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. 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 fusion 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.
Unigold Inc. Press Release: Jan. 24, 2020 6
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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