Unigold Inc. (TSX-V:UGD, OTCQX:UGDIF) has set out its operational plans for 2022 in the Dominican Republic, which, it said, should put the company firmly on the path towards a production decision for its Candelones gold oxide project.
"Our objectives during the year are to deliver a viable, financed oxide project and to have sufficient permits in place that we can have certainty regarding the timing of construction and production," CEO Joseph Hamilton told investors in a statement.
"Our focus for the first half of the year will be firmly on the Oxide Project and the associated permitting. In addition, the return to regional exploration gives us the opportunity to demonstrate that the Neita Concession is a mineral district with the potential for multiple deposits in the future," he added.
Hamilton also highlighted that the company's work on the deeper Candelones sulphides asset would not stop during 2022.
READ: Unigold hires experienced mine manager as new COO as company advances towards development at Candelones asset
"We expect to complete further drilling, metallurgical testing and process designs later this year. Our objective would be to schedule a Preliminary Economic Assessment of the sulphide project once we have assembled sufficient technical data. We are looking forward to a transformative year for the company and expect that we will be able to show how the sulphide project fits into the oxide development by the end of 2022," he said.
A key first step in achieving commercial production at the Candelones oxide deposits is to obtain an exploitation licence over a portion of the Neita concession, the firm noted, and a final application is expected to be submitted by the end of January this year.
In addition, 36 holes for 1,110 metres (m) have been completed in a bid to convert inferred oxide resources to the higher confidence measures and indicated category with assay results anticipated in the first quarter this year, the company added.
Unigold noted other activities now in train for 2022 included:
- Start of feasibility work is now underway
- Environmental and social impact assessment (ESIA) is pending final approval of the terms of reference as baseline studies continue
- Corporate Social Responsibility programs and reporting is accelerating in Q1, 2022
- Results from the company's 2021 regional mapping and sampling programs continue to be received
Unigold also noted that specialist consultants in 2021 had reviewed all geochemical, geological and geophysical data available over the concession area, while field mapping, sampling and trenching program were carried out over select targets to set priorities for future drill programs.
Drill-testing of a possible buried copper-gold porphyry target at Montazo is set to begin this month, the company said.
In addition, the firm hired Vrify Technologies Inc. (vrify.com) in the fourth quarter last year to import its entire dataset onto the Vrify platform for 3D viewing.
"Investors are encouraged to visit the Vrify website or gain access through the Unigold website to get a better understanding of the spatial relationships of the identified mineral deposits within the Neita concession," it said.
Unigold has been active in the Dominican Republic since 2002 and its Candelones oxide gold deposit is within the 100% owned Neita Fase II exploration concession in the northwest part of the country.
The Neita Concession property is considered the largest single project within a 75 kilometers-wide Cretaceous-age area known for hosting major gold-copper-silver deposits.
Unigold has identified over 20 areas within the concession area that host surface expressions of gold systems. Unigold has been concentrating on the Candelones oxide mineralization and continues to expand the deeper sulphide resources with ongoing drilling.
Contact the author at giles@proactiveinvestors.com