Tuesday, 30th September 2008 (382 views)

Unigold has revealed that it has found a previously undiscovered gold zone at its Los Candelones deposit in the Dominican Republic.

Geologists came across a mineralised outcrop and two holes were drilled in order to determine its vertical depth. Both holes intersected gold.

The upper zone, at a depth of 12 metres, assayed 0.83 g/t gold over eight metres. The lower area, beginning 59 metres below the ground, provided 0.5 g/t gold over seven metres.

Despite the modest gold grades, the firm believes that the discovery is significant due to the continuity and extent of the mineralisation.

President and chief executive in office Daniel Danis commented: "This opens up a lot of new ground around Los Candelones that was previously considered marginal and highlights the importance of good field exploration."

Recently, GoldQuest Mining reported that sample results from the El Toro project in the Dominican Republic had returned values of up to 35.19 g/t gold.

 

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