|By Marketwired .||
|June 27, 2014 12:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/27/14 -- Unigold Inc. ("Unigold" or the "Company") (TSX VENTURE:UGD) is pleased to announce that the Board of Directors has approved resumption of a focused exploration drilling program on the Neita Concession. Field crews are mobilizing to drill the Loma de Montazo target.
The advanced exploration targets identified for this 5,000 meter phase of the 2014 drill program have been extensively examined geologically and have been defined through the detailed field work and exploration efforts completed during 2014. The first target to be tested is Loma De Montazo, which is located approximately 2 kilometers along the north-west trend from Candelones, where an inferred mineral resource of 39.5 million tonnes averaging 1.6 g/t gold for 2.0 million ounces of gold has been previously defined. Loma de Montazo returned the largest and strongest IP chargeability and resistivity response on the property. It is also associated with a distinct NE structural break defined by airborne geophysical surveys. Epithermal style alteration has been observed in field mapping and anomalous copper mineralization was intersected in historical drilling located to the immediate south of the drill target.
"We are very excited to initiate our 2014 drill program. The geological team has completed excellent, diligent and professional work in defining and refining these drill targets," said Andrew Cheatle, President and CEO of Unigold Inc. "We are also very pleased to have our Board support to complete this work. Unigold's owned drill has now been mobilized to our first target and our locally trained and skilled drill crews are keen and ready to begin drilling."
Unigold's highly experienced geological team has now completed extensive exploration work and refined four of Neita's 25 plus targets to 'drill ready' status. Local scale mapping is also in progress at KM6, Mariano Cestero and Valle Nuevo. Unigold has also completed trenching at Cerro Berro, Cerro Simon, Jiminez and Cruz de Cabrera targets.
Unigold has sufficient funding to meet the goals and objectives established for the current exploration program.
Wes Hanson P.Geo., Chief Operating Officer of Unigold and a Qualified Person under National Instrument 43-101 has reviewed and approved the contents of this press release.
About Unigold Inc.
Unigold is a Canadian based mineral exploration company traded on the TSX Venture Exchange under the symbol UGD, focused primarily on exploring and developing its gold assets in the Dominican Republic.
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 "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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