Unigold Inc. – Discovering Gold in the Dominican Republic
Unigold Inc. (TSXV:UGD) is a Canadian-based exploration and development company with several perspective gold projects in the Dominican Republic. The Company’s main focus lies within its wholly owned 22,616 hectare Neita Concession, a potentially world-class polymetallic ore body in the Candelones Target Area. Unigold is a significant mineral property holder in the Dominican Republic, with land holdings and options covering over 110,000 hectares.
Neita is Unigold’s flagship project and one of our four contiguous projects within the Dominican Republic. The Neita concession totals 22,616 hectares, and is located approximately 200 kilometers northwest of the capital city of Santo Domingo. Santiago de los Caballeros, the second largest city in the Dominican Republic, is roughly 100 kilometers northeast of the project. The western limit of the Nieta property is defined by the Haitian border.
The Neita property lies within the Greater Antilles volcanic arc that extends from the island of Hispaniola through Cuba. The geology of the property is similar to extremely prospective mineral belts which host numerous mines and significant exploration projects, including Pueblo Viejo which has a proven and probably reserve estimates of 25.3 million ounces of gold. Unigold considers this belt to be one of the most prospective and underexplored gold regions in the world.
Three distinct types of mineralization are recognized on the Nieta property: volcanic hosted massive sulphide (VHMS), ephithermal, and porphyry.
The (VHMS) Candelones zone has many of the signatures of world class deposits, and is interpreted as being within a field of multiple large volcanic hosted massive sulphide deposits (VHMS). Drilling has demonstrated the zones are locally stacked, indicating numerous mineralizing events over significant period geological time. Drilling results to date combined with geologic mapping and induced polarity (IP) surveys support that the Company is on the way towards the discovery of a potential major VHMS district. There are numerous targets that have not yet been drilled. Moving forward, the Candelones zone is Unigold’s top priority.
The MGN target is a zone of high sulphidation which is common in the vicinity of large VHMS type deposits. Trenching and geochemical sampling yielded a grade of 2.68 g/t gold over thirty-five meters.
The Jimenez, and Noisy targets represent the low sulphide epithermal deposits on the Nieta, and both have the potential for high-grade veining. Initial sampling on a small vein on the Jimenez, returned values of 12.6 g/t gold. Additionally, chalcocite, and the important copper mineral bornite are also found in the veins.
The third deposit type in the Corozo zone corresponds to porphyry copper mineralization; which is typically low-grade, bulk tonnage, and amenable to cost effective open-pit-mining techniques. Diamond drilling over 120 meters returned copper values of 0.1%.
These different deposit types represent specific and unique geologic events that remobilized the metal into economically concentrations; each had distinct alteration, and mineralization packages.Positive drill results obtained in the 2012 program are scheduled for further drill testing and exploration in 2013, with the priority focusing on the Candelones zone.
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Category: DR News |