CENTRAL SOUTH AMERICA

Unigold jumps on more Dominican Republic drilling

Unigold turns out a long, high grade intercept giving it a shareprice boost.

Author: Kip Keen
Posted: Monday , 30 Jul 2012

HALIFAX, NS (MINEWEB) - 

Unigold (TSX-V: UGD) cut one of its best intercepts yet on the Candelones project in the Dominican Republic with as much as 77 metres @ 3.81 g/t gold in one drillhole.

The intercept helped propel Unigold stock to the top of the charts on the Venture board in terms of volume as of presstime. Unigold's shareprice had jumped 16 percent to C$0.44 on volume over 2 million. 

The drillhit was on the Candelones Extension target, an area that has been particularly good to Unigold this year. In January Unigold announced it had hit 73 metres @ 2.36 g/t Au at the andelones Extension, news that sent its shareprice soaring from under C$0.20 to over C$0.30.

So far Unigold said it had identified gold mineralization in drilling over a roughly 1,000 metre by 400 metre area, with the latest drilling adding another 100 metres of strike length.

The Candelones Extension is a few kilometres east of the Candelones main target, where Unigold has outlined extensive gold mineralization as well.