The Dominican Republic is not only known for sun, sand, and booze, Unigold (TSX.V: UGD OTCQX: UGDIF) is currently developing their Neita Concession which totals 21,031 Hectares consisting of:
- Porphyry Copper and Copper-Gold deposits;
- High to low sulphidation Gold and Gold-Silver epithermal deposits; and
- Volcanogenic Hosted Massive Sulphide (“VHMS”) Au-Ag-Cu-Pb-Zn deposits.
To date, the total invested on the project is over C$40M, including:
- Soil geochemistry of the entire concession (32,000 samples) that has highlighted 21 prospective targets;
- 11,000 surface rock geochemistry samples confirming all identified soil anomalies;
- 32,000 meters of surface trenching, predominantly at the Candelones Main and Connector deposits;
- 120,000 meters of resource definition drilling at the Candelones Main, Connector and Extension deposits;
- 23,000 meters of reconnaissance exploration drilling at 12 additional targets.
Unigold (TSX.V: UGD OTCQX: UGDIF) owns and operates four drill rigs with a maximum hole depth rating of 1200 meters. The Company’s all-in exploration cost is approximately C$125 per meter.
The company currently has resources of about 2Moz @ 1.6g/t gold at their flagship Neita Project. The current 43-101 resource breakdown is as follows:
This resource is being updated in Q1 of 2021, with a new resource expected to be released in early Q2 2021. The new resource will include a further 35,000m of sulphide delineation drilling. A PEA for the oxide portion of the deposit is also expected to be released early in Q2.
Within the Dominican Republic, there are currently multiple world-class assets being developed. This includes:
Pueblo Viejo Mine, which is approximately 100 kilometers northwest of the capital city of Santo Domingo and is operated by the Pueblo Viejo Dominicana Corporation — a joint venture between Barrick Gold (60%) and Newmont (40%). Development of the project started in 2009, and first production occurred in 2012. In 2020, Pueblo Viejo produced 900,000 ounces of gold at an All-In Sustaining Cost of $660/ounce. The current gold reserves and resources stand at: 6.2Moz proven and probable; 15Moz measured and indicated; 2.4Moz Inferred (all based on information from Barrick Gold’s website: Barrick Gold Corporation - Operations - Pueblo Viejo)
Falcondo Mine is a ferronickel surface mining operation with production capacity of 29,000 tonnes of contained nickel per annum located in the Dominican Republic with operations dating back to 1971. Falcondo is typically a swing producer and was put on care and maintenance when nickel prices fell in October 2013. In 2015, Glencore sold its 85.26% ownership in the operation to Americano Nickel Limited, a private equity company which has subsequently restarted the mine. Franco-Nevada has not received any dividends in recent years (based off information on Franco Nevada website: Franco-Nevada Corporation - Our Assets - Asset List - Latin America - Falcondo (Ni) (franco-nevada.com)).
Cerro De Maimon, is an operating copper/gold mine in the Dominican Republic. Cerro de Maimón hosted approximately 6 million tonnes of open-pit copper/gold reserves, as reported in a National Instrument 43-101 compliant technical report dated August 2007 by independent consultants. The open-pit ore is exhausted and mining operations have transitioned to underground. The Cerro de Maimón property, and surrounding 3,391 hectare exploitation concession, was acquired from Falconbridge Dominicana (Falcondo) in April 2002. Falcondo retained a 2% NSR of which Perilya purchased 50% in 2008. The company owns 100% of the deposit, subject to the remaining 1% NSR retained by Falcondo. The Dominican Secretary of State of Environment and Natural Resources granted the Environmental License to Perilya to mine the Cerro de Maimón mineral deposit in 2004 (based off Perilya website: Cerro De Maimon » Perilya).
Unigold (TSX.V: UGD OTCQX: UGDIF) is run by a team of successful executives, and geological professionals:
Joseph Hamilton, P.Geo, CFA
CHAIRMAN OF THE BOARD OF DIRECTORS AND CEO
Mr. Hamilton is a Professional Geologist with over 30 years of experience in mineral exploration, capital markets and mine development. Mr. Hamilton has been involved in all facets of the mineral development cycle from early stage generative exploration to resource definition, feasibility studies, environmental permitting, community consultations, project financing, and construction management. Mr. Hamilton has served on the Board of Directors of Aurelian Resources, Wesdome Gold Mines, Noront Resources, Mirabela Nickel and African Copper among others. Mr. Hamilton has managed base metal and gold projects in North America, Latin America and Africa. In addition to being a Professional Geologist in Ontario, Mr. Hamilton is a Chartered Financial Analyst, a member of the CFA Institute and a member of the Institute of Corporate Directors. Mr. Hamilton graduated from the University of Toronto with a B.Sc. in geology, and from Queen’s University with a M.Sc.(Applied) in Mineral Exploration.
Wesley C. Hanson, P.Geo.
CHIEF OPERATING OFFICER
Mr. Hanson joined Unigold's team in March 2013. Mr. Hanson brings over 32 years of industry experience , including exploration, mine development, mine operations, project evaluation and financing. Mr. Hanson was President and CEO of Noront Resources (2009 -- 2012), VP Mine Development, Western Goldfields / Silver Bear Resources (2006 through 2009), Director Technical Services, Kinross Gold (2002-2006) and Project Geologist, SNC-Lavalin Engineers and Constructors (1999-2002). Mr. Hanson has also served on the Board of Directors for Noront, Cobriza Metals and St. Eugene Mining. Earlier in his career, Mr. Hanson supervised numerous gold exploration projects throughout northern Canada and the US, many of which successfully advanced from exploration projects through mine development and construction into commercial operation. Mr. Hanson graduated from Mount Allison University in 1982 with a Bachelor of Science degree in Geology.
Donna McLean, BA
CHIEF FINANCIAL OFFICER
Donna has served as CFO and Controller for numerous publicly-traded and private companies, managing financial reporting and controls as well as corporate secretarial admin for established and emergent businesses. She has worked for several mineral exploration companies including Metalla Royalty and Streaming Ltd., Aurania Resources Ltd., Firestone Ventures Inc. and Avidian Gold Corp.
Charles Page, M.Sc., P.Geo.
In addition to being a Professional Geologist, Mr. Page has acted as senior officer, director and CEO for several publicly traded junior resources companies. Over the past 40 years, Mr. Page has developed, organized and implemented major exploration projects in several mining camps in Canada and in the Republic of Cuba. He is familiar with all aspects of exploration from grass-roots projects to feasibility studies, production and mine closure. His primary geological expertise is in Precambrian gold and base metal, epithermal gold, porphyry copper-gold and disseminated gold deposits. He is also a director of Osisko Gold Royalties Ltd. and Osisko Development Corp.
As of today, Unigold (TSX.V: UGD OTCQX: UGDIF) has 126.34M shares outstanding and is trading at C$0.285 giving it a market cap of C$36M.
In summary, Unigold (TSX.V: UGD OTCQX: UGDIF) is positioned extremely well. Currently the company has 4 drills turning on the property, some of the recent results include: 7 metre intercept grading 21.9g/t gold and 2.7% copper. The world class Pueblo Viejo mine is 280 Km away by paved road and is one of the biggest (+900Koz/yr) and lowest cost (US$660/oz AISC) gold mines in the world. The two biggest gold miners in the world, Barrick Gold (TSX: ABX) and Newmont Mining (NEM-NYSE), have invested heavily in the Dominican Republic and are in the middle of a US$1 billion expansion project at Pueblo Viejo.