Toronto, Ontario, January 31, 2008
- Unigold Inc. ("Unigold" or the "Company") (TSX-V: UGD) is pleased to announce the discovery of a new gold zone (Candelones Suroeste) on the southwestern flank of the Los Candelones high-sulfidation epithermal gold deposit. This new zone has been traced in an east-west direction over a 1800 metre strike length by gold in soil anomalies. The peak gold in soil anomaly is 2.9 grams per ton Au, coincident with Candelones Suroeste.
Grab samples taken from outcrops and boulders over several hundred square metres surrounding the 2.9g/t gold anomaly graded up to 4.5 grams per tonne (g/t) gold from baritebearing, argilic-altered rocks (see results below).
Two perpendicular trenches totalling 261m were dug over the showing area to test the gold grades and better understand the geology of the new gold zone. Gold is associated with argilicaltered and silicified dacite with barite veinlets. The trenches indicate that anomalous gold values (>100ppb Au) are present over a 100m x 100m area. Values are indicated below.
Candelones Suroeste is interpreted as an east-west trending gold zone parallel to the know trend of mineralization on the main Candelones deposit located 1km to the northeast. Host rock and style of mineralization on the new discovery are analogous to those on Los Candelones. Furthermore both areas are coincident with low magnetic signatures. Work is progressing to ascertain whether Candelones Suroeste represents the faulted western portion of the main deposit or parallel zone related to the same mineralization event.
Assays were done at the ACME laboratory in Santiago, Chile by fire assay procedure and gravimetric finish and the reported lengths are believed to represents true width section.
The foregoing scientific and technical information has been prepared or reviewed by Daniel Danis, M.Sc., the Vice-President and Chief Operating Officer of Unigold and Stephen Poitras, Project Geologist. Mr. Danis is a "qualified person" as defined by National Instrument 43-101.
About Unigold Inc.
Unigold Inc. is exploring to find and develop gold deposits on its 100-per-cent-owned 226 km2 Neita property located in the Dominican Republic. Having the largest land package in the Dominican Republic, the goal is to target bulk tonnage, open pitable, oxide gold deposits within a similar setting to the world class Pueblo Viejo gold project which occurs within a broad northwest trending Cretaceous age volcanic greenstone belt that transects the Dominican Republic. The economics of any discovery will be significantly improved by the fact that Unigold Inc. benefits from an 18-year holiday on all corporate taxes, sales taxes and import duties in the Dominican Republic.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Daniel Danis, V.P. Exploration & COO and Director (+1-450-667-4766)
Web site: www.unigoldinc.com
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