Unigold's Dominican drill results thrill punters

Unigold Inc.(CVE:UGD) soared more than 30% on Wednesday on massive volumes after announcing spectacular drill results from its flagship Neita property in the Dominican Republic.

By early afternoon the Toronto-based small-cap was trading up 30.8% at $0.85 on the Toronto venture board, slightly off its highs for the day.

A whopping 4.6 million shares in the $19 million company had changed hands by 2:25 pm EST on Wednesday compared to the daily average of 478,000. The counter is still showing steep losses for 2013 – it is down 79% year to date.

Unigold's Candelones "Extension Zone" target lies within the wholly owned, 22,600 hectare Neita concession in the Caribbean nation on the border with Haiti.

Drilling highlights from the gold-copper-silver-zinc VMS deposit include:

  • LP MET 01 423.6 metres averaging 1.07 g/t Au, 1.2 g/t Ag, 0.1 % Cu and 0.2 % Zn including
    • 38.0 metres averaging 5.13 g/t Au, 4.5 g/t Ag, 0.5 % Cu and 0.0 % Zn
  • LP MET 02 32.0 metres averaging 2.53 g/t Au, 7.8 g/t Ag, 0.1% Cu and 1.0 % Zn and
  • LP MET 03 74.0 metres averaging 0.99 g/t Au, 2.5 g/t Ag, 0.1 % Cu and 0.3 % Zn.

Image by Unigold