Unigold Inc. Resumes Exploration Drilling Program in the Dominican Republic
Jun 27 14
Unigold Inc. announced that the Board of Directors has approved resumption of a focused exploration drilling program on the Neita Concession. Field crews are mobilizing to drill the Loma de Montazo target. The advanced exploration targets identified for this 5,000 meter phase of the 2014 drill program have been extensively examined geologically and have been defined through the detailed field work and exploration efforts completed during 2014. The first target to be tested is Loma De Montazo, which is located approximately 2 kilometers along the north-west trend from Candelones, where an inferred mineral resource of 39.5 million tonnes averaging 1.6 g/t gold for 2.0 million ounces of gold has been previously defined. Loma de Montazo returned the large and strongest IP chargeability and resistivity response on the property. It is also associated with a distinct NE structural break defined by airborne geophysical surveys. Epithermal style alteration has been observed in field mapping and anomalous copper mineralization was intersected in historical drilling located to the immediate south of the drill target.
Unigold Inc. Presents at European Gold Forum 2014, May-07-2014 05:30 PM
May 4 14
Unigold Inc. Presents at European Gold Forum 2014, May-07-2014 05:30 PM. Venue: Park Hyatt Hotel, Beethovenstrasse 21, 8002 Zurich, Switzerland.
Unigold Inc. Provides Exploration Update for the Neita Concession in the Dominican Republic
Apr 8 14
Unigold Inc. provided an update on its ongoing exploration work at the Neita Concession and advancement of the Candelones deposit. Advancing Candelones: building on a solid foundation On November 12, 2013, the company announced its maiden mineral resource estimate for the Candelones Main, Connector and Extension deposits, an inferred mineral resource of 39.5 million tonnes averaging 1.6 g/t gold for 2.0 million ounces of gold. Work is currently in progress on metallurgical testing, prior to possible commencement of a Preliminary Economic Assessment later in 2014. Focus on making new discovery: Neita is target rich Exploration within the highly prospective Tireo Formation 'belt' in the Dominican Republic, has recently, identified approximately 5.0 million gold equivalent ounces. The Tireo Formation 'belt,' is a 40 km wide sequence of intermediate volcanic and volcanoclastic rocks that bisects the island of Hispaniola and which has seen limited modern exploration. Approximately 85% of exploration expenditures to date at Neita have focused on the Candelones - Guano trend which strikes ENE along the southern half of the Concession. With the successful completion of the initial mineral resource estimate at Candelones, the company is also focusing its efforts in 2014 towards a 'new' discovery. During the fourth quarter of 2013, the company was focused on delivering its maiden mineral resource estimate for Candelones deposit. With that objective successfully completed, the company drill tested select targets along the interpreted Candelones - Guano mineralized trend. In late third quarter and fourth quarter 2013, the company drilled the Rancho Pedro, Juan del Bosques and Montazo targets. Wide zones of anomalous gold mineralization were intersected and these were associated with IP anomalies. Unigold's exploration to date has largely been limited to the southern 25% of the Neita Concession, tracing the gold enriched trend defined from Candelones to Guano, approximately 10.0 kms to the ENE. While this trend has proven to hold significant potential for additional gold discoveries, the company considers it prudent to evaluate the remaining 75% of the Concession which has seen limited, if any, follow up exploration on a number of exciting copper and gold anomalies defined through soil geochemistry and regional airborne MAG. The company is currently focused on regional scale mapping of the northern half of the Concession. Current data suggests that the northern portion of the Concession is dominated by more mafic volcanic and volcanoclastics rocks, interpreted by some to represent the older rocks of the Lower Tireo Formation. The southern portion of the Concession is dominated by younger, more felsic volcanic and volcanoclastics rocks from the Upper Tireo sequence. The contact between the Upper and Lower Tireo is currently interpreted to be a thrust fault that trends to the NW and essentially bisects the Concession. Soil geochemistry indicates a very distinctive break along the mapped contact area. Airborne MAG also demonstrates a coincident linear feature that mirrors the contact as mapped. The soil geochemistry clearly indicates that the Lower Tireo has a stronger copper response than the Upper Tireo while the gold geochemistry is completely opposite, favouring the more felsic volcanic and volcanoclastic rocks of the Upper Tireo. Initial targets of interest that, with the exception of Corozo, have not been drill tested to date include: The northern copper trend - a large, (8.0 km x 2.0 km) copper in soil anomaly trending NW, parallel to the regional geological fabric located approximately 11 kms NE of Candelones; Corozo - a coincident copper, gold and molybdenum soil anomaly measuring approximately 500 m in diameter located in the NW corner of the Concession approximately 12 km NNW of Candelones and Jiminez, a rock geochemical target demonstrating high grade (+2.0 g/t Au) located 8.0 kms NNE of Candelones.