Phase 1 of IP Survey Completed and Drilling Started on New Targets
02 Noviembre 2011 - 8:59AM
Marketwired
Unigold Inc. (TSX VENTURE:UGD) is pleased to announce that the
first phase of its IP survey has been completed. New targets have
been identified which are located along strike from existing known
gold mineralization, established by previous geochemical indicators
and drilling. Based upon the promising results from the geophysical
survey, and the potential to significantly expand the area of known
gold mineralization the Board of Directors has authorized
additional work. Diamond drilling has now resumed to test the new
targets identified.
Phase 1 of the IP survey was conducted over the summer on the
Candelones and MGN properties. 150 kilometers of IP gradient survey
was completed, with a line spacing of 200 m covering approximately
10km of strike length along the prospective contact between
andesite and dacite lithologies.
Drilling resumed in October on the most prospective targets.
Unigold plans to complete 3,000 m to 4,000 m diamond drilling at
the Candelones IP targets and 2,000 m diamond drilling at MGN IP
targets. The drill program will likely extend into 2012.
On October 28, 2011, Daniel Danis resigned as President and
Chief Executive Officer. As previously announced, Andrew Cheatle
has assumed the position of President and CEO. The Board thanks Mr.
Danis for his contributions. Mr. Cheatle was also appointed to the
Board of Directors.
Technical information in this press release has been reviewed
and approved by Andrew Cheatle, P. Geo., President and CEO of
Unigold Inc., who is a qualified person under the definitions
established by National Instrument 43-101.
About Unigold
Unigold is a growth-oriented junior natural resource company
focused primarily on exploring and developing a large land position
in the Dominican Republic which is highly prospective for gold
mineralization.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Unigold Inc. Mr. Andrew Cheatle President and CEO +1
(416) 866-8157unigold@unigoldinc.comwww.unigoldinc.com
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