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ACHIEVEMENTS

The 2009 regional exploration program added or significantly expanded several gold showings on the Neita property, new discoveries include:

  • Noisy: 1 g/t Au over 38m including 2.02 g/t Au over 10m in diamond drill hole
  • MGN: 2.68 g/t Au over 35m including 4 g/t Au over 23m in trenching

Additional exploration achievements include:

  • 1,400m of drilling on the Los Candelones deposit and regional targets
  • 150 grab samples grading more than 0.5 g/t Au and averaging 3.82 g/t Au on Neita
  • 5,000m of trenching on Neita
  • 100 line km of ground magnetics on MGN
  • Better comprehension of epithermal gold system emplacement at regional scale based on geological mapping
  • Improved model of high sulphidation epithermal gold system on Neita
  • 1,000 soil and reconnaissance samples upstream of artisanal placer workings on Sabaneta

Most of the 2009 gold discoveries were encountered within a huge epithermal alteration zone called MGN, which covers an area of more than 16 square km within the Neita property. This area is located 8 km north-east of Unigold's Los Candelones deposit and will be the main focus of our exploration in 2010.

Within this huge epithermal system, a hydrothermal breccia zone (1,200m X 400m) assayed up to 2.68 g/t Au over 35m including 4 g/t Au over 23m in trenches. Mineralization is associated with a ryolite dome and occurs as silica-barite rich rock replacing the host volcanic pyroclastic rock.

Across the valley from the breccia zone, further exploration under a silicified cap rock uncovered a high grade zone grading up to 2 g/t Au over 42m, including 10.3 g/t over 7m in trenches and up to 197.5 g/t Au in grab samples. Associated alunite-dickite-pyrophillite alteration suggests that this system corresponds to a high sulphidation epithermal gold system.

The Noisy gold zone located 6 km north of Los Candelones was also significantly expanded in 2009. This epithermal target corresponds to a large gold in-soils anomaly. The anomaly is open to the west and displays the same epithermal signature and magnetic depletion characteristics as Los Candelones.