Unigold upgrades resource, launches $5M exploration program at Candelones

Unigold (TSXV: UGD) has announced an updated mineral resource estimate for the Candelones oxide project on the company’s flagship Neita concession, a 226-sq.-km land package located in the province of Djabon in the Dominican Republic, 220 km northwest of the capital Santo Domingo. The pit constrained oxide mineral resource now stands at measured and indicated resources of 3.43 million tonnes grading 0.84 gram gold per tonne for 92,000 contained oz. gold. Inferred resources add 1.61 million tonnes grading 0.74 gram gold for 38,000 oz. gold. The company said the updated estimate represents an 80% conversion of oxide resources from the inferred to measured and indicated categories and an increase of 15% in mineral resources, based on a metallurgical recovery rate of 90%.