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The Company completed 48 diamond drill holes (10,087 meters) as of
Significant results for the project to date are summarized in Tables 1.0 (Candelones Sulphide Drilling) and 2.0 (Candelones Oxide Drilling).
The Company is targeting
Table 1.0 – Candelones Sulphide Drilling - Summary of Significant Results 2019-2020
Target | Hole (#) | From(m) | To (m) | Interval (m)1 | 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 | DELAYED DUE TO COVID SITUATION | ||||||||
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 | HOLE AT 17.0m - DRILLING SUSPENDED DUE TO COVID WORK RESTRICTIONS | ||||||||
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 | ||
LP20-150A | RESULTS PENDING | ||||||||
LP20-152 | RESULTS PENDING | ||||||||
LP20-154 | RESULTS PENDING | ||||||||
LP20-156 | HOLE AT 80.0m, LOGGING AND SAMPLING SUSPENDED DUE TO COVID WORK RESTRICTIONS |
(1) Intervals are reported as drilled length not true width. There is insufficient data at this time to estimate true width.
Figure 1.0 – Candelones Extension Longitudinal Section Looking North
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d0e28f3f-3086-4928-bd3c-04cd82070441
Table 2.0 – Candelones Oxide Drilling - Summary of Significant Results 2019-2020
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 |
(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
The Budget also includes approximately
Approximately
Finally, the Budget includes approximately CAD
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
The core will be photographed daily and the photographs will be transmitted to
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 supervised by our Dominican management team, supervised digitally by our Canadian management and consultants. Remote management will continue until travel restrictions allowing international travel are lifted, allowing the Company’s technical staff to return to the
Correction to PR202-14 “Unigold Announces Closing of Private Placement of 33,333,334 Units for Gross Proceeds of Approximately
On
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 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 averaging 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
About
For further information please visit www.unigoldinc.com or contact:
Mr. | |
Chairman & CEO | |
jhamilton@unigoldinc.com 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
Neither
Source:
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