UNIGOLD INC.
44 Victoria Street, Suite 504, Toronto, Canada M5C 1Y2
T. 416.866.8157 F. 416.866.8674
www.unigoldinc.com
PRESS RELEASE
PR No. 2012 01
Unigold Inc. Reports New Results, Including 73 m @ 2.36 g/t Gold,
at Candelones Extension, Neita Property, Dominican Republic
TORONTO, Ontario, January 16, 2012 Unigold Inc. (“Unigold” or the “Company”) (TSXV:UGD) is
pleased to announce additional results from the 2011 drilling program at its wholly owned Candelones
Project, Neita Property in the Dominican Republic.
Significant results are reported for drill holes LP17 and LP20. The holes were targeted to extend the
known mineralization using Unigold’s recently acquired IP survey, combined with improved geological
knowledge. Assay results from the core obtained at the Candelones Extension (Lomita Piña) are
reported in the table below. The best results are 73.0 m @ 2.36 g/t gold in hole LP17 and 20.0 m @ 2.74
g/t gold plus 37.0 m @ 1.48 g/t gold in hole LP20. The deposit remains open along strike in both
directions and down dip.
“These exciting drill results, in terms of their true width, grade consistency, and strike extent now
extending the mineralized zone at the Candelones Extension (Lomita Piña) to nearly 1.0 km in length
show considerable promise at the property.” noted Andrew Cheatle, Unigold’s new President and Chief
Executive Officer. “We are enthusiastically returning to the area and starting the year with a 10,000 m
drill program to test both strike and dip extent.”
Table: Significant Drill Results from Candelones Extension (Lomita Piña)
Drill Hole
From (m)
To (m)
Interval (m)
Au (g/t)
LP17
252.0
325.0
73.0
2.36
LP18
200.0
260.0
60.0
1.30
LP19
96.0
120.0
24.0
0.36
LP20
60.0
80.0
20.0
2.74
Including
60.0
68.0
8.0
6.25
and
121.0
158.0
37.0
1.48
Comments
South of dyke
South of dyke
North of dyke
North of dyke
Notes: Intervals indicate true width. Holes drilled at approximately 330° Azimuth and dips of 50° to 70°. See Appendix for all
drill results from Candelones Extension (Lomita Piña) including those from previous press releases.
At the end of the 2011 drill program, LP17 was extended from 333 m to 450 m and intersected a further
100 m of sulphide mineralization. Assay results are pending.
Unigold Inc. Press Release: January 16, 2012
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Geological Setting
Gold mineralization occurs within Unigold's Neita concession, located within the Central Cordillera of
Hispaniola. In the most general sense, the rocks of Hispaniola represent Cretaceous arc complexes that
migrated eastward, along with an oceanic plateau, from the Pacific to the Atlantic ocean where they
collided with the southern margin of North America. The geology of the property reflects this complex
history.
Within the project area, diffusely bedded dacitic tuff and hyaloclastite breccia are intercalated with
marine sedimentary rocks and all are intruded by andesitic sills. These rocks, and their andesitic
basement, were overthrust by high magnesium basalts, related terrestrial sediments, and ophiolitic
rocks. They were deformed several times to create complex fault patterns and three different sets of
folds. The two older sets of folds are recumbent to isoclinal and are crudely coaxial with W NW trends.
The third set of folds are broad open folds of northerly trend, which provide down plunge views through
the older folds and thrust faults. Economic values of gold mineralization at the property occur within the
dacitic breccias.
Quality Assurance/Quality Control and Qualified Person
All diamond drill core samples were assayed at the Acme Analytical Laboratories facility in Chile utilizing
standard fire assay procedures. The Company has also implemented a quality assurance and quality
control (“QA/QC”) program to ensure that sampling and analysis of all exploration work is conducted in
accordance with the CIM Exploration Best Practices Guidelines. The drill core is cut in half with one half
of the core sample shipped to Acme. The remaining half of the core is kept for future assay verification,
geological investigation and/or metallurgical testing. The QA/QC procedures also include the insertion of
blind blanks and standards into the sample stream.
Technical information in this press release was reviewed and approved by Andrew Cheatle, P.Geo.,
President and Chief Executive Officer at Unigold, who is a qualified person under the definitions
established by National Instrument 43 101.
About Unigold Inc. – Discovering Gold in the Caribbean
Unigold is a growth oriented junior natural resource company, focused primarily on exploring and
developing its gold assets in the Dominican Republic – a country which is highly prospective for gold
mineralization.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Andrew Cheatle, President and CEO: +1 (416) 866 8157
Web site: www.unigoldinc.com
Email: [email protected]
Forward looking Statements
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.
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.
Unigold Inc. Press Release: January 16, 2012
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F
Figure
1: Neita Concession, Domiinican Republic, showing exploration targets
Unigold Inc. Presss Release: Januarry 16, 2012
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Figure 2: Candelones Extension (Lomita Piña) area showing Gradient IP and location of reported drill holes.
Unigold Inc. Press Release: January 16, 2012
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Appendix – Tabulation of all drill results from the Candelones Extension (Lomita Piña)
Drill Hole
LP01
LP02
LP03
LP04
LP05
LP06
LP07
LP08
LP09
LP10
LP11
LP12
LP13
LP14
LP15
LP16
LP17
LP18
LP19
LP20
Including
and
Notes:
From (m)
To (m)
Interval
(m)
11.0
42.0
17.0
51.0
6.0
9.0
75.0
41.0
139.0
92.0
239.0
37.0
95.0
156.0
57.0
129.0
26.0
210.0
43.0
252.0
200.0
96.0
60.0
60.0
121.0
77.0
70.0
141.0
144.0
247.0
87.0
159.0
173.0
64.0
183.0
40.0
285.0
75.0
325.0
260.0
120.0
80.0
68.0
158.0
2.0
29.0
2.0
52.0
8.0
50.0
64.0
17.0
7.0
54.0
14.0
75.0
32.0
73.0
60.0
24.0
20.0
8.0
37.0
Au
(g/t)
3.1
1.0
NSV
1.3
0.7
0.6
1.4
1.6
1.1
1.4
0.2
1.0
0.4
0.1
1.4
0.4
2.36
1.30
0.36
2.74
6.25
1.48
Reported in press release
dated:
June 14, 2010
June 14, 2010
June 14, 2010
June 14, 2010
June 14, 2010
June 14, 2010
June 14, 2010
June 22, 2010
June 22, 2010
November 30, 2010
November 30, 2010
November 30, 2010
November 30, 2010
March 3, 2011
March 3, 2011
March 3, 2011
January 16, 2012
January 16, 2012
January 16, 2012
January 16, 2012
Intervals indicate true width
Unigold Inc. Press Release: January 16, 2012
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