Unigold Reports 7.0 Meters Averaging 15.06 g/t Au at Target C, Candelones Extension Deposit
Unigold Inc. Press Release: 2020-26, DEC 10, 2020 1
UNIGOLD INC.
Suite 2100, 401 Bay Street, PO Box 55, Toronto, ON, Canada M5H 2Y4
T. (416) 866-8157
www.unigoldinc.com
PR No. 2020-26
Unigold Reports 7.0 Meters Averaging 15.06 g/t Au at Target C, Candelones
Extension Deposit
• Drilling expands Target C mineralization 75 metres to depth and defines
eastern extension
• LP20-176 (Target C) intersected 7.0 meters averaging 15.06 g/t Au, 4.4 g/t
Ag, 0.45% Cu and 6.33% Zn
• LP20-178 (Target C) collared in and remained in an interpreted bounding
fault for a down-dropped graben;
• The structural interpretation opens up new exploration targets between
Targets B and C in a sparsely drilled area
• LP155 (Target B) intersected target mineralization with copper and low
tenor gold in the gap between Targets A and B
• LP155 was critically placed to test structural trends in this area - the
drillhole suggests that the main mineralization at Target A is faulted
downwards relative to Target B in this area;
• While the Company awaits the results from a further 10 drillholes that
have been completed, drilling is now focussing on the extreme east and
west extensions of the known mineralization
Toronto, Ontario, December 10, 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.
The Company has completed 32 drill holes (10,070 m) of the planned 15,000 meter
program including 9 holes (243 meters) at the Candelones Main and Connector zone
targeting oxide and transition mineralization for additional metallurgical test work .
Drilling has moved to test the both the eas tern and western extensions of
mineralization in sparsely drilled areas.
Joe Hamilton, Chairman and CEO of Unigold notes: “The lack of ass ay results has
hampered the positioning of new drill holes. Our technical teams pivoted to using
Unigold Inc. Press Release: 2020-26, DEC 10, 2020 2
drillholes to test structural ideas in the gaps between Targets A, B and C while continuing
to target the best mineralisation in the footwall below the andesi te-dacite contact. The
results have not only extended Target C a further 75 metres to depth but have shown that
high-grade mineralization is possibly down-dropped in this area. These interpretations
have given the Company new hope for finding more epithermal mineralization between
Targets C and B.
We have commenced exploration drilling through the 1500 meter gap west of Target C,
towards the Candelo nes Hill mineralization. We are targeting the interpreted andesite -
dacite contact based on recent re-interpretation of the airborne electromagnetic dataset.
This area has been sparsely drilled close to surface and the depth potential has never
been probed.
To the east, the area between Target A and B has always shown a lack of significant results.
Our latest drillhole suggests that mineralization may also be drop-faulted through this
area to depths that are difficult to attain with our current drill fleet. Instead we have
transitioned to testing the extension of Target A to the northeast where no drilling exists.
Our plan is to establish pre-drilled collars to a maximum hole depth of 500 meters, leave
casing in these pre -drilled collars and deepen these holes once our new drills clear
Customs and become operational.”
LP20-176 (Ref. Figure 1) was a step out hole 25 meters east of the central core of
Target C and 75 meters deeper. It was drilled below and between LP91 (5.0 meters
averaging 3.01 g/t) and LP16 -113 (5.5 meters averaging 4.08 g/t). LP20-176
intersected mineralization that was both thicker and higher grade than the two holes
above it and alos retuned a long intersection of lower grade disseminated
mineralization surrounding the core of epithermal sulphides. LP20 -176 returned
64.0 meters averaging 1.92 g/t Au, 1.1 g/t Ag, 0.1% Cu and 0.2% Zn including 7.0
meters averaging 15.06 g/t Au, 4.43 g/t Ag, 0.5% Cu and 6.3% Zn (Ref. Table 1.0).
Once again, Target C is showing significant silver, copper and zinc accompanying the
gold.
Hole LP20-178 targeted an area 75m below the above intercepts, exploring for the
eastern depth extension of Target C (Figure 1) . This hole intersected successive,
narrow (<3.0 meter) mafic dikes, late fault zones and breccia ted dacit ic
volcanoclastics. Considering the amount of late post-mineralization faulting
encountered east of Target C in LP20 -176, the Company believes the hole likely
tracked along an interpreted sub -vertical fault system and that this fault system
forms the western boundary of a down -dropped graben block. The down-dropped
Unigold Inc. Press Release: 2020-26, DEC 10, 2020 3
graben may explain why only a few drill holes returned epithermal mineralization in
this area but also explains the downward displacement of the low -grade
disseminated mineralisation through this area. If epithermal mineralization exists
between Target B and C, it is likely below existing drilling.
At Target B, LP20-155 (Figure 1) was drilled to test the down-dip continuity by
targeting an area approximately 50 meters below LP19 -135 (24.0m averaging 6.03
g/t Au, 4.9 g/t Ag, 0.3% Cu and 0.7% Zn). A 50 m zone of irregular brittle faulting
marked the end of andesitic rocks. Once through this fault zone, disseminated
sulphides in a dacite unit returned ubiquitous low -grade mineralization. Fifty
metres beyond the fault zone and deeper in the dacite volcanoclastic unit , a 5.0
meter section of semi-massive pyrite and chalcopyrite averaged 0.18 g/t Au, 1.1 g/t
Ag, 0.53% Cu and 0.0% Zn. While the gold grade was low, the sulphide
mineralization in this area was strong and encouraging. This faulting in th is hole,
along with other holes on this section, seems to imply that Targets A and B are also
separated by a fault, with the eastern side down-dropped (Figure 1).
Table 1.0 – Significant Results LP20-168, 170, 172, 174 and 153A
Target Hole (#) From(m) To (m)
Interval
(m) Au (g/t) Ag (g/t) Cu (%) Zn (%)
C LP20-176 296.00 360.00 64.00 1.92 1.12 0.06 0.81
including 297.00 336.00 39.00 3.06 1.54 0.10 1.32
including 329.00 336.00 7.00 15.06 4.43 0.45 6.33
LP20-178 No significant values
B LP20-155 320.00 388.00 68.00 0.30 0.44 0.04 0.07
including 324.00 326.00 2.00 1.16 0.48 0.04 0.03
and 484.00 489.00 5.00 0.18 1.07 0.53 0.00
(1) Interval represents drilled length in meters and not true width.
Unigold Inc. Press Release: 2020-26, DEC 10, 2020 4
Figure 1.0 – CANDELONES LONG SECTION LOOKING NORTH
Unigold Inc. Press Release: 2020-26, DEC 10, 2020 5
QA/QC
Diamond drilling utilizes both HQ and NQ diameter : holes are established using HQ
diameter before reducing to NQ . The core is received at the on -site logging facility
where it is photographed, logged for geotechnical 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 s tandard 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 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.
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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