Thursday 29th September 2016

Resource Clips


Cross-continent quest

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Also on October 4, Golden Predator TSX:GPD announced near-surface drill results from its flagship Brewery Creek Project in north-central Yukon. Assays from the Lower Fosters Zone include

  • 1.86 grams per tonne gold over 29 metres
  • (including 4.83 g/t over 7.6 metres)
  • 1.29 g/t over 21.3 metres
  • (including 3.09 g/t over 4.6 metres)
  • 2.05 g/t over 12.2 metres
  • (including 5.38 g/t over 3.1 metres)
  • 1.13 g/t over 21.3 metres
  • (including 3.65 g/t over 3 metres)
  • 0.89 g/t over 24.4 metres
  • (including 1.89 g/t over 3 metres)
  • (including 1.53 g/t over 6.1 metres)

True widths were not available. Depths extend to 131 metres but most of the 17 holes were above 58 metres.

Brewery Creek has a June 2012 resource estimate of 581,000 gold ounces indicated and 346,000 ounces inferred. Scheduled for Q4 this year is a resource update and pre-feas. Last month Golden Predator announced a three-stage US$35-million debt facility with RK Mine Finance to move Brewery Creek towards production.

Golden Predator closed October 4 at $0.41, a penny above the day’s open, which was half a cent above the previous day’s close. The 52-week high was $0.86, with a 52-week low of $0.29.

Unigold Inc TSXV:UGD continues to release news from its Candelones Project, within the company’s 22,616-hectare Neita Concession in the Dominican Republic. Assays released October 4 include

  • 1.02 grams per tonne gold, 1.4 g/t silver, 0.1% copper and 0.23% zinc over 100.6 metres
  • 1.08 g/t gold, 0.4 g/t silver, 0.04% copper and 0.13% zinc over 75.4 metres
  • (including 3.19 g/t gold, 0.9 g/t silver, 0.07% copper and 0.3% zinc over 19.7 metres
  • 0.88 g/t gold, 0.9 g/t silver, 0.05% copper and 0.22% zinc over 15.8 metres
  • 0.32 g/t gold, 1.8 g/t silver, 0.3% copper and 0.22% zinc over 37 metres

True widths are estimated at 100%. No topcut was applied to grades. Depths extend to 444 metres.

In the same announcement, Unigold reported revised numbers for a hole reported on September 13. The original assays were 2.06 g/t gold, 3.9 g/t silver, 0.15% copper and 0.79% zinc over 30 metres. On October 4 Unigold “restated” the gold grade “with recently received ‘over-limit’ assays” as 2.99 g/t gold.

The company is now mobilizing a fourth rig. Trenching and surface sampling, meanwhile, are underway to define drill targets between the Candelones Extension, location of the October 4 results, and the main Candelones Zone two kilometres west. The company says exploration has defined “a zone of intense silicification with strong gold values at surface over an area approximately 700 by 125 metres east of Candelones.”

Unigold closed October 3 at $0.315, opening October 4 at the same price before nudging to a $0.33 close. The 52-week chart shows a high of $0.52 and a low of $0.09.

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