Unigold Updates Mineral Resource Estimate for the Candelones Project: 2.291 million ounces of gold in Measured and Indicated Resources
Original announcement by tmx on
- Company
- Unigold Inc.
- Ticker
- UGD
- Exchange
- TSX
- Region
- Dominican Republic
- Primary commodity
- Gold
- Secondary commodities
- Silver, Copper
- Document categories
- Resource update
- Extracted
- 2026-08-20 17:34:47 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Unigold has released an updated Mineral Resource Estimate for the Candelones Project in the Dominican Republic, reporting 2.29 million ounces of gold in Measured and Indicated resources. The update consolidates all mineralization in the area and reflects a shift in processing methodology from heap leach to flotation.
Reasoning: The update provides a large, high-confidence (93% M&I) gold resource that consolidates previous mineralization, though it notes a trade-off in metallurgical recovery due to a change in processing methodology.
Positive factors
- Significant M&I gold resource (2.29 Moz)
- High M&I percentage (93%)
- Consolidation of mineralization
- Conversion of historic Inferred to M&I
- QP/CP signed and named
Negative factors
- Lower metallurgical recovery due to processing change (heap leach to flotation)
- Resource is open to depth and along strike
Facts used in scoring: 9
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: 100% conversion of historic Inferred resource to M&I.
Evidence · text
“100% conversion of historic Inferred resource to M&I”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Qualified Persons William J. Lewis, P.Geo. and Matt Ball, MIMMM are named.
Evidence · text
“Mr. William J. Lewis, P.Geo. and Matt Ball, MIMMM, of Micon International Limited., who are Qualified Persons”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: Resource estimated by Micon in accordance with NI 43-101 standards.
Evidence · text
“estimated by Micon International Limited by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards of Disclosure for Mineral Projects (NI 43-101).”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: NSR cut-off grades for oxide, transition, and sulphide material are clearly stated.
Evidence · text
“marginal NSR cut-off of US$32.75/t for the conceptual open pit evaluation of sulphides and transition material”
Extracted facts
Stored fact records: 9. Some facts used in scoring do not have a stored record.
Resource Estimates (9)
measuredgoldTonnes: 31001872Grade: 1.13Grade Unit: g/tContained Metal: 1125000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- UGD
Resource Data
- Category
- measured
- Tonnes
- 31001872
- Grade
- 1.13
- Grade Unit
- g/t
- Contained Metal
- 1125000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: High-confidence measured gold intercept.
Positive factors
- Measured category provides highest confidence
Evidence · table
“1.13”
Context: 31,001,872
measuredsilverTonnes: 31001872Grade: 2.13Grade Unit: g/tContained Metal: 2127000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- UGD
Resource Data
- Category
- measured
- Tonnes
- 31001872
- Grade
- 2.13
- Grade Unit
- g/t
- Contained Metal
- 2127000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: Silver byproduct in measured resource.
Evidence · table
“2.13”
Context: 31,001,872
measuredcopperTonnes: 31001872Grade: 0.1Grade Unit: %Contained Metal: 71794Contained Unit: klbsView all detailsHide details
Identity
- Commodity
- copper
- Ticker
- UGD
Resource Data
- Category
- measured
- Tonnes
- 31001872
- Grade
- 0.1
- Grade Unit
- %
- Contained Metal
- 71794
- Contained Unit
- klbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: Copper byproduct in measured resource.
Evidence · table
“0.10”
Context: 31,001,872
indicatedgoldTonnes: 38133903Grade: 0.95Grade Unit: g/tContained Metal: 1167000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- UGD
Resource Data
- Category
- indicated
- Tonnes
- 38133903
- Grade
- 0.95
- Grade Unit
- g/t
- Contained Metal
- 1167000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: Significant indicated gold resource.
Positive factors
- Indicated category provides reasonable confidence
Evidence · table
“0.95”
Context: 38,133,903
indicatedsilverTonnes: 38133903Grade: 1.75Grade Unit: g/tContained Metal: 2150000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- UGD
Resource Data
- Category
- indicated
- Tonnes
- 38133903
- Grade
- 1.75
- Grade Unit
- g/t
- Contained Metal
- 2150000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: Silver byproduct in indicated resource.
Evidence · table
“1.75”
Context: 38,133,903
indicatedcopperTonnes: 38133903Grade: 0.07Grade Unit: %Contained Metal: 60148Contained Unit: klbsView all detailsHide details
Identity
- Commodity
- copper
- Ticker
- UGD
Resource Data
- Category
- indicated
- Tonnes
- 38133903
- Grade
- 0.07
- Grade Unit
- %
- Contained Metal
- 60148
- Contained Unit
- klbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: Copper byproduct in indicated resource.
Evidence · table
“0.07”
Context: 38,133,903
inferredgoldTonnes: 5288811Grade: 1.2Grade Unit: g/tContained Metal: 203000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- UGD
Resource Data
- Category
- inferred
- Tonnes
- 5288811
- Grade
- 1.2
- Grade Unit
- g/t
- Contained Metal
- 203000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: Inferred gold resource.
Negative factors
- Inferred category is speculative
Evidence · table
“1.20”
Context: 5,288,811
inferredsilverTonnes: 5288811Grade: 2.28Grade Unit: g/tContained Metal: 387000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- UGD
Resource Data
- Category
- inferred
- Tonnes
- 5288811
- Grade
- 2.28
- Grade Unit
- g/t
- Contained Metal
- 387000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: Silver byproduct in inferred resource.
Negative factors
- Inferred category is speculative
Evidence · table
“2.28”
Context: 5,288,811
inferredcopperTonnes: 5288811Grade: 0.1Grade Unit: %Contained Metal: 18010Contained Unit: klbsView all detailsHide details
Identity
- Commodity
- copper
- Ticker
- UGD
Resource Data
- Category
- inferred
- Tonnes
- 5288811
- Grade
- 0.1
- Grade Unit
- %
- Contained Metal
- 18010
- Contained Unit
- klbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-08-14T00:00:00.000Z
Reasoning: Copper byproduct in inferred resource.
Negative factors
- Inferred category is speculative
Evidence · table
“0.10”
Context: 5,288,811
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.