Unigold Provides Update on 15,000 meter Drill Program 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. 2020-15
Unigold Provides Update on 15,000 meter Drill Program in the Dominican Republic
Toronto, Ontario, July 15, 2020 – Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD) is pleased to provide
an update on the status of its exploration program at the Neita Concession in the Dominican Republic.
The Company completed 48 diamond drill holes (10,087 meters) as of March 15, 2020, when travel restrictions
to limit the spread of COVID in Canada and the Dominican Republic forced the suspension of active exploration
drilling. Two holes (97 meters) were in progress at the time of the suspension with both holes target ing
extensions to the high grade epithermal feeder zones at Targets B and C respectively.
Significant results for the project to date are summarized in Tables 1.0 (Candelones Sulphide Drilling) and 2.0
(Candelones Oxide Drilling).
Joseph Hamilton, Chairman and CEO of Unigold notes: “We are anxious to resume active exploration at our
Neita Concession. The results from earlier this year are very encouraging. We believe we have successfully
upgraded portions of the current inferred mineral resource to the measured and indicated classific ation. Our
preliminary metallurgical results suggest that the at-surface oxide resource may be amenable to heap leach
recovery, with 80% gold recovery in 72 hours during column leach tests. Flotation recoveries of gold range from
92 to 97% with gravity rec overies ranging from 13 to 53%. Leaching of flotation concentrates yielded gold
recoveries ranging from 30% to 88% with the best recoveries originating from the late stage, epithermal
mineralization at Target B, which remains open at depth. Mineralogically, there are similarities between
Targets B and C and our follow-up exploration for the remainder of the year will focus on expanding the known
mineralization and transitioning into prospective, weakly drilled areas along strike. We expect active
exploration drilling will resume by July 31, 2020 . Early Q3 drilling will be focused on Targets B and C before
transitioning to exploration drilling along the structural trends identified to date. We also plan to initiate work
on a Pre -Feasibility Study of the oxide mineralization, positioning the Company to apply for an Exploitation
Permit in the near future.”
The Company is targeting July 31, 2020 to resume active exploration. Initial drilling will be focused on
expanding Targets B and C, both of which are currently interpreted to be late stage, epithermal feeder systems
with the potential for gold recoveries in excess of 85% using gravity-float-leach circuits.
Unigold Inc. Press Release: July 15, 2020 2
Table 1.0 – Candelones Sulphide Drilling - Summary of Significant Results 2019-2020
(1) Intervals are reported as drilled length not true width. There is insufficient data at this time to estimate true width.
Target From(m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%) Zn (%)
A LP19-131M 244.30 381.00 136.70 1.94 NSV 0.20 NSV
including 284.00 309.00 25.00 5.67 NSV 0.40 NSV
LP19-132M 237.50 336.50 99.00 3.42 2.8 0.33 NSV
including 287.30 318.70 31.40 4.72 4.1 0.50 NSV
LP19-133M 221.00 323.00 102.00 1.65 NSV 0.26 NSV
including 283.00 300.00 17.00 7.31 22.5 1.22 NSV
LP19-137 258.20 393.50 135.30 1.28 1.1 0.14 NSV
including 306.50 321.80 15.30 5.75 3.7 0.52 NSV
LP19-138 292.50 422.00 129.50 1.29 0.9 0.13 NSV
including 351.00 394.00 43.00 3.04 1.8 0.26 NSV
LP19-141 393.00 407.00 14.00 1.69 2.4 0.70 NSV
LP20-143 340.60 344.80 4.20 1.58 5.0 0.60 0.07
LP20-145B 198.80 202.80 4.00 2.00 1.9 0.64 0.01
LP20-147
B LP19-134M 286.00 392.00 106.00 1.90 2.8 0.22 0.30
including 368.00 392.00 24.00 4.59 3.4 0.54 0.23
LP19-135 303.70 440.60 136.90 1.83 2.0 0.15 0.20
including 397.30 421.00 23.70 6.03 4.9 0.31 0.10
LP19-139 275.00 392.50 117.50 1.91 3.2 0.14 0.80
including 309.40 326.00 16.60 3.37 13.0 0.30 2.13
LP19-140 180.00 297.00 117.00 1.27 18.1 0.08 0.84
including 188.30 197.00 8.70 4.38 74.6 0.44 3.42
LP19-142 180.10 411.50 231.40 1.11 2.7 0.12 0.37
including 180.10 194.10 14.00 2.60 5.4 0.09 0.85
and 498.40 506.10 7.70 3.65 1.1 0.27 0.23
LP20-144 238.50 334.00 95.50 1.23 2.1 0.10 0.34
including 268.50 292.00 23.50 1.52 1.2 0.07 0.37
LP20-149
C LP20-146 111.00 161.00 50 4.19 15.7 0.26 0.15
including 111.00 120.50 9.5 14.14 46.6 0.26 3.20
LP20-148 103.00 177.70 74.70 3.41 3.7 0.07 0.56
including 105.00 150.00 45.00 4.95 5.7 0.10 0.89
including 130.50 149.00 18.50 10.18 4.5 0.19 1.53
LP20-150 133.00 278.00 145.00 1.97 6.2 0.07 0.58
including 208.00 235.90 27.90 6.24 8.7 0.17 1.84
including 212.00 222.50 10.50 12.94 15.6 0.27 3.03
including 273.40 277.00 3.60 2.25 2.7 0.14 0.02
LP20-152
LP20-154
LP20-156
HOLE AT 17.0m - DRILLING SUSPENDED DUE TO COVID WORK RESTRICTIONS
DELAYED DUE TO COVID SITUATION
HOLE AT 80.0m, LOGGING AND SAMPLING SUSPENDED DUE TO COVID WORK RESTRICTIONS
RESULTS PENDING
RESULTS PENDING
Hole (#)
Unigold Inc. Press Release: July 15, 2020 3
Figure 1.0 – Candelones Extension Longitudinal Section Looking North
Unigold Inc. Press Release: July 15, 2020 4
Table 2.0 – Candelones Oxide Drilling - Summary of Significant Results 2019-2020
(2) Intervals are reported as drilled length not true width. There is insufficient data at this time to estimate true width.
The Company is focused on resuming active exploration as rapidly as possible. To that end, Unigold’s Board
of Directors have approved a CAD$ 4,975,000 Budget for the period July through December 2020. The Budget
includes an initial drill program of 15,000 to 20,000 meters at an estimated cost of CAD$ 1, 800,000. Drilling
will be focused on expanding Targets B and C. By Q4, 2020, the Company plans to begin drilling the Candelones
Gap, an 800 -1000 meter gap between the Candelones Main and the Extension deposit to the east. Historical
drill coverage is sparse with fewer than twenty historical drill holes. Interpretation of the latest drill results
suggests that structural trends identified at the Candelones Extension may continue through the Gap and that
historical drilling may have overshot the mineralized system.
The Budget also includes approximately CAD$1,250,000 for additional metallurgical testing and flow sheet
design, site geotechnical work and preliminary engineering to support a Preliminary Feasibility Study of the
at-surface oxide resource. Completion of the Preliminary Feasibility Study will support the Company’s future
application for an Exploitation Permit for the Candelones Project.
Approximately $700,000 has been budgeted to support Community Relations, stakeholder communications,
publicity campaigns and G&A. These efforts will support a higher profile for the Company within the
Dominican Republic and abroad. Community support for our project is an important element to obtaining an
Exploitation Permit.
Finally, the Budget includes approximately CAD $825,000 for capital improvements to the Company’s existing
drilling and support equipment aimed at improving mechanical availability and reducing down time due to
mechanical failure.
Zone Hole (#) From (m) To (m) Interval (m) Au (g/t)
Connector DCZ19-54 0.0 13.4 13.4 0.65
DCZ19-55 0.0 22.5 22.5 0.65
DCZ19-56 0.0 23.0 23.0 1.37
DCZ19-57 0.0 21.0 21.0 1.08
DCZ19-58 0.0 21.0 21.0 0.93
DCZ19-63 0.0 18.0 18.0 0.44
Main DC19-143 0.0 14.2 14.2 0.31
DC19-146 0.0 16.3 16.3 1.25
DC19-148 0.0 30.3 30.3 1.33
DC19-149 0.0 29.8 29.8 0.54
DC19-150 0.0 25.1 25.1 0.46
DC19-151 0.0 23.0 23.0 0.93
DC19-152 0.0 32.4 32.4 1.19
DC19-153 0.0 31.6 31.6 1.52
DC19-154 0.0 20.0 20.0 4.07
DC19-157 0.0 17.4 17.4 0.41
Unigold Inc. Press Release: July 15, 2020 5
The Company has initiated ordering critical parts, components, instrumentation and consumables from our
local and global suppliers. We have begun re-hiring our local work force to service and repair our two CS1000
drill rigs and transport them to the field in preparation to resume drilling. The Company is sourcing a further
two drill rigs which will support our deeper drilling programs. These drills are expected to be operational
before the end of Q3, and will accelerate our drilling programs.
Drill hole locations and hole alignment will be designed in Canada under the supervision of Unigold’s
geological staff and consultants. This information will be communicated to our site management team who
have been trained on locating and aligning drill holes. Hole alignment will be verified using modern, downhole
survey equipment to ensure the hole is aligned correctly.
The core will be photographed daily and the photographs will be transmitted to Canada using a secure server.
The photos will be used to generate a working log of major lithologies and structure and to identify intervals
for sampling. The sample log, indicating the start and end points of all intervals, will be transmitted to the site
management team who will then ensure the core is sampled acco rding to the sample log forwarded from
Canada.
Standard Reference Materials will be inserted by site management as per Unigold’s standard operating
practices and the samples will be forwarded to our selected laboratory for analysis.
Drilling will be supe rvised by our Dominican management team, supervised digitally by our Canadian
management and consultants. Remote management will continue until travel restrictions allow ing
international travel are lifted, allowing the Company’s technical staff to return to the Dominican Republic.
Correction to PR202-14 “Unigold Announces Closing of Private Placement of 33,333,33 4 Units for Gross
Proceeds of Approximately $6 million”
On June 24, 2020 the Company announced the closing of a Private Placement of units comprised of one
common share and one -half of one common share purchase warrant. Each Warrant entitles the holder
thereof to purchase one Common Share at an exercise price of $0.30 at any time prior to J une 23, 2022. An
incorrect expiry date was published in the June 24, 2020 press release.
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 b y 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 Ve ritas. 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: July 15, 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
Forward-looking Statements
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