Unigold Files NI43-101 Technical Report on Candelones Project
TORONTO, June 07, 2021 (GLOBE NEWSWIRE) — Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD, OTCQX:UGDIF, FSE:UGB1) is pleased to report that the Technical Report titled “Updated Mineral Resource Estimate And Preliminary Economic Assessment For The Oxide Portion Of The Candelones Project, Neita Concession, Dominican Republic” has been filed on SEDAR. The Technical Report, with an effective date of May 10, 2021, provides the required technical disclosure supporting the Company’s recent PEA study for the oxide portion of the deposit and an updated Mineral Resource Estimate which supports moving a portion of the sulphide resources to the Measured and Indicated categories.
The updated Technical Report was completed by Mr. W. Lewis, P.Geo., Mr. A. San Martin, MAusIMM (CP), Mr. R.M. Gowans, P.Eng., Mr. Chris Jacobs, C.Eng. and Mr. Nigel Fung, P.Eng. of Micon International Limited. (“Micon”). Micon is independent of Unigold and Messrs. Lewis, San Martin, Gowans, Jacobs and Fung meet the requirements of “Qualified Persons” as described in Ni43-101 and the Companion Policy 43-101CP.
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, the OTCQX exchange under the symbol UGDIF, and on the Frankfurt Stock Exchange under the symbol UGB1. The Company is focused primarily on exploring and developing its gold assets in the Dominican Republic. The Candelones oxide gold deposit is within the 100% owned Neita Fase II exploration concession located in Dajabón province, in the northwest part of the Dominican Republic. The Candelones project area is about 20 kilometers south of the town of Restauraćion. The oxide deposit occurs at surface as a result of the tropical weathering of underlying mineralization. Unigold has been active in the Dominican Republic since 2002 and remains the most active exploration Company in the country. The Neita Fase II exploration concession is the largest single exploration concession covering volcanic rocks of the Cretaceous Tireo Formation. This island arc terrain is host to Volcanogenic Massive Sulphide deposits, Intermediate and High Sulphidation Epithermal Systems and Copper-gold porphyry systems. Unigold has identified over 20 areas within the concession area that host surface expressions of gold systems. Unigold has been concentrating on the Candelones mineralization and continues to expand the deeper sulphide resources with on-going drilling.
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 “may”, “interpreted”, “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 the (United States) Private Securities Litigation Reform Act of 1995.
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