Unigold Intersects 30.0 meters averaging 9.02 g/t Au at Candelones Extension Deposit in the Dominican Republic
Unigold Inc. Press Release: 2020-17, AUG 10, 2020 1
UNIGOLD INC.
P.O. Box 936, STN Adelaide, Toronto, ON, Canada, M5C 2K3
T. (416) 866-8157
www.unigoldinc.com
PR No. 2020-17
Unigold Intersects 30.0 meters averaging 9.02 g/t Au at Candelones
Extension Deposit in the Dominican Republic
• Unigold reports the longest, highest grade intersection drilled to date at Neita:
30 metres averaging 9.02 g/t gold, 5.1 g/t silver, 0.63% copper
• Intercept is contained within a larger interval of 104.1 metres grading
3.14 g/t gold, 2.1 g/t silver, 0.27% Cu.
• Gold grades are consistent throughout the interval, ranging from 4 g/t
to 19 g/t gold
• Geological interpretation that system is strengthening to depth is
reinforced by this result
• System is open to depth: deepest intercept is 350m below surface
• 15,000 m drill program expected to commence within the next 10 days
Toronto, Ontario, August 10 , 2020 – Unigold Inc. (“Unigold” or the “Company”) (TSX -
V:UGD) is pleased to announce additional results from its completed Phase 1 drill program
at the Candelones Extension deposit, part of the Company’s 100% owned Neita
Concession in the Dominican Republic.
Drill hole LP20-147 intersected 104.1 meters averaging 3.14 g/t Au, 2.1 g/t Ag, 0.27% Cu
and 0.01% Zn with a sulphide intersection of 30.0 meters averaging 9.02 g/t Au, 5.1 g/t
Ag, 0.63% Cu and 0.00% Zn (Ref. Table 1.0 and Figure 1.0). The Company notes that six
(6) over limit results for copper are pending. It is not anticipated that the over limit results
will cause a material change in copper grade.
The gold, silver and copper mineralization over the entire 30 -meter intersection is
consistent (see Table 1) and no samples required cutting to calculate weighted average
grades.
LP20-147 was drilled to fill a gap between holes LP15-96 (34.0 meters averaging 4.15 g/t
Au, 0.40% Cu) and LP16-124 (5.9 meters averaging 11.8 g/t Au, 0.20% Cu). The intercept
has likely increased the geological confidence (resource classification) of this area within
the easternmost sulphide mineralization recognized to date at Neita.
Unigold Inc. Press Release: 2020-17, AUG 10, 2020 2
Joe Hamilton, Chairman and CEO of Unigold notes: “LP20-147 is the longest, highest grade
intercept that has been returned from the Neita concession. The hole was placed to convert
a significant portion of the current inferred mineral resource to at least indicated status and
it is our opinion that we successfully achieved our objective. The hole suggests that sulphide
mineralization may have a steeper plunge to the northeast than originally interpreted b ut
most importantly, it suggests that the system is strengthening to depth. The top of this
sulphide mineralization starts about 150 m below surface and has been drilled to a depth
of about 350 m below surface. There is additional potential to expand this mineralization
to depth.
We are currently awaiting a shipment of critical parts for our owner-operated drills to arrive
at our exploration camp. These parts should allow us to increase the maximum depth
capacity of our drills allowing us to continue to chase the high grade minera lization to
depth. We are planning to resume active exploration drilling by mid August. An additional
two drills, with 1200m drill capability, have been ordered and are expected to be operational
at Neita by the end of September.
The recognition of a seco nd stage, late epithermal sulphide mineralization that overprints
older primary mineralization has allowed us to focus drilling on these higher-grade
resources. We believe that we have identified up to four of these sulphide-rich zones within
a 3 kilometre strike length. Our initial holes will test the lower limits of two of these
epithermal feeders. Our metallurgical testing earlier this year indicated that the late
epithermal overprint offers gravity recoveries of +50% and leach recoveries of +85%
making these targets extremely attractive.”
QA/QC
Diamond drilling utilizes both HQ and NQ diameter tooling. Holes are established using
HQ diameter tooling before reducing t o 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 anal ysis. 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 aver aging 1.0 meters 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
Unigold Inc. Press Release: 2020-17, AUG 10, 2020 3
fire assay fusion with an atomi c 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
T. (416) 866-8157
Forward-looking Statements
Certain statements contained in this document, including statements regarding events and financial trends that may affect our
future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the
federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You
can identify these forward-looking statements by the use of words like “strategy”, “expects”, “plans”, “believes”, “will”, “estimates”,
“intends”, “projects”, “goals”, “targets”, and other words of similar meaning. You can also identify them by the fact that they do not
relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions
and that actual events or 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 statements. Where applicable, we claim the protection of the safe
harbour for forward- looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Unigold Inc. Press Release: 2020-17, AUG 10, 2020 4
Table 1.0 – LP20-147 ASSAY RESULTS
From To Interval (1) Au Ag Cu Zn
(m) (m) (g/t) (g/t) (%) (%)
326.50 356.50 30.00 9.02 5.10 0.63 0.00
including:
326.50 327.50 1.00 6.36 4.30 0.87 0.00
327.50 328.50 1.00 8.27 5.00 1.00(2) 0.01
328.50 329.50 1.00 4.08 3.40 0.23 0.00
329.50 330.50 1.00 4.87 3.60 0.34 0.01
330.50 331.50 1.00 5.28 4.00 0.41 0.01
331.50 332.50 1.00 7.53 6.00 1.00(2) 0.00
332.50 333.50 1.00 17.90 6.60 1.00(2) 0.00
333.50 334.50 1.00 6.41 4.80 0.38 0.00
334.50 335.50 1.00 12.10 5.30 0.43 0.00
335.50 336.50 1.00 16.80 6.00 0.70 0.00
336.50 337.50 1.00 12.40 4.80 0.49 0.00
337.50 338.50 1.00 12.10 4.90 0.50 0.01
338.50 339.50 1.00 13.10 5.20 0.55 0.00
339.50 340.50 1.00 9.80 5.10 0.56 0.00
340.50 341.50 1.00 9.43 5.80 0.48 0.00
341.50 342.50 1.00 6.66 4.00 0.54 0.00
342.50 343.50 1.00 5.35 4.60 0.56 0.00
343.50 344.50 1.00 5.22 4.30 1.00(2) 0.00
344.50 345.50 1.00 6.41 4.50 0.54 0.00
345.50 346.50 1.00 7.79 5.10 0.62 0.00
346.50 347.50 1.00 9.80 6.30 0.59 0.00
347.50 348.50 1.00 12.20 4.20 0.45 0.00
348.50 349.50 1.00 8.10 5.80 0.57 0.00
349.50 350.50 1.00 15.30 7.50 0.98 0.00
350.50 351.50 1.00 19.20 9.60 1.00(2) 0.00
351.50 352.50 1.00 6.71 5.40 0.60 0.00
352.50 353.50 1.00 5.59 4.40 0.41 0.00
353.50 354.50 1.00 4.27 3.90 0.42 0.00
354.50 355.50 1.00 7.06 4.90 1.00(2) 0.00
355.50 356.50 1.00 4.67 3.60 0.67 0.01
(1) Intervals are reported as drilled length not true width. There is insufficient data at
this time to estimate true width.
(2) Denotes pending over limit analyses for copper. The over limit results are not
anticipated to result in a material increase in copper grade.
Unigold Inc. Press Release: 2020-17, AUG 10, 2020 5
Figure 1.0 – Au Grade x Thickness Contours – Longitudinal Section Looking North at 015 Azimuth