Unigold Inc. (TSX VENTURE:UGD) has announced new results on its wholly-owned Neita Property located in the western region of the Dominican Republic.
Drillhole LP-15 returned 2.0 g/t of gold over a 15 metre true thickness included in 75 metres grading 1.4 g/t of gold and extended mineralization at depth from hole number LP-7. Actual total strike length of the Candelones Extension is now more than 550 metres. This drillhole is approximately three kilometres to the east of the Candelones deposit where Unigold defined a gold mineralized area of 400m by 400m to a depth of 200 metres. The mineralization at Candelones trends southeast where it disappears under younger andesitic volcaniclastics. The mineralization encountered in this latest round of drilling is hosted by a massive barite unit and hydrothermal breccias and is similar to that found at Candelones. Mineralization remains open in all directions and at depth.
The alteration zone that encompasses both Candelones and the Extension outcrops over approximately 16 square kilometres. Both areas are contained within magnetic lows which may represent magnetite destruction during the alteration and mineralizing event. Higher gold grades are correlated with white quartz flooding and veins. Geological interpretation implies that the overlying magnetic andesitic volcaniclastic unit may be a capping sequence that pre-dated alteration and mineralization. The underlying rock units, as well as the three kilometre area between the Extension and Candelones, have become high priority exploration targets. Structural mapping suggests that both Candelones and the Extension were emplaced within similar structural domains consistent with the regional patterns.
Work programs for the next quarter will concentrate on preparing significant drilling campaign at the Candelones Extension and MGN. More than 3,000 soil samples and 150 kilometres of IP and gradient geophysical surveys are planned as follow-up work at Neita. Detailed geological mapping, structural mapping and alteration re-interpretation are underway and will continue in the next quarter. More than 15,000 metres of drilling is planned in the second half of 2011.
The foregoing scientific and technical information has been prepared and reviewed by Daniel Danis, the CEO of Unigold. Mr. Danis is a "qualified person" within the meaning of National Instrument 43-101. All samples were assayed at Acme Analytical Laboratories facility in Chile utilizing standard fire assay procedure.
Source: Unigold Inc.