Unigold Inc. [UGD-TSXV; UGDIF-OTCQX; UGD1-FSE] reported results from its continuing exploration drilling at the Candelones extension deposit, part of the 100%-owned Neita concession in the Dominican Republic.
A total of 11 holes (3,751 metres) of the planned 15,000-metre drill program have been completed to date. Drilling is currently testing epithermal mineralization at targets B and C of the Candelones extension.
The proposed drilling is designed to increase the geological confidence for future mineral resource estimates and to test for extensions of the high-grade targets at depth and along strike. Drilling at target C is focused on tracing an interpreted fault structure, which has been intruded by a late mafic dike. High-grade gold and silver with associated copper and zinc mineralization are localized at or near the contact of the magnetic dike, suggesting that this could represent a potential marker horizon to guide future drilling.
Joe Hamilton, Chairman and CEO of Unigold, noted: “These initial results continue to demonstrate the exploration potential of the Candelones Project and our increasing knowledge base, which is evolving with each drill hole. The systems at Candelones remain open, and drilling is identifying new zones in unexpected areas. LP20-160 intersected the high-grade mineralization 90 metres higher than anticipated. We interpret that the high-grade mineralization is fault offset towards surface in the system. This new intercept is within 125 metres of surface. The location of the mineralization indicates that there is a 150- to 200-metre vertical gap in drill coverage along the andesite-dacite contact below this intercept. The interpreted sub-vertical faulting, intensity of brecciation and presence of mafic dikes make this gap in drill coverage a high-priority target for additional drilling, especially in light of the grades intersected in our latest hole. We are continuing to step out from the known high-grade mineralization in 25- to 50-metre increments as we seek to expand the footprint of mineralization. Once sufficient analytical results are available, we will be able to adjust the drill plan to target the highest-grade mineralization in undrilled areas.”
LP20-160 (target C) was collared 20 metres east of LP57 (12.99 metres averaging 5.95 g/t gold, 4.2 g/t silver, 0.07% copper and 0.70% zinc) and 20 metres west of LP91 (9.0 metres at 3.0 g/t gold). LP20-160 intersected the target mineralization 90 metres higher in the system than anticipated and returned 35.00 metres of 4.16 g/t gold, 14.1 g/t silver, 0.10% copper and 0.30% zinc, including 8.00 metres of 16.48 g/t gold, 57.7 g/t silver, 0.30% copper and 0.80% zinc. Hole LP49, collared in 2013 about 200 metres south of LP20-160, stopped short of the andesite-dacite contact. The mineralization intersected in LP20-160 suggests that the entire length (150 metres) of the sub-vertical contact may be prospective for additional high-grade mineralization.