# Unigold Updates Mineral Resource Estimate for the Candelones Project: 2.291 million ounces of gold in Measured and Indicated Resources

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f

Original source: https://money.tmx.com/en/quote/UGD/news/7927049916948215/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli

Publisher: tmx

Original announcement: 2026-08-14T11:02:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- 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

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas 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 factor: Significant M&I gold resource \(2.29 Moz\)

- Positive factor: High M&I percentage \(93%\)

- Positive factor: Consolidation of mineralization

- Positive factor: Conversion of historic Inferred to M&I

- Positive factor: QP/CP signed and named

- Negative factor: Lower metallurgical recovery due to processing change \(heap leach to flotation\)

- Negative factor: Resource is open to depth and along strike

Facts used in scoring: 9

## Classification and evidence

**Category Upgrade**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Compliant**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: 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)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-0)

gold

#### 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 factor: Measured category provides highest confidence

Evidence · table

> 1.13

Context: 31,001,872

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-1)

silver

#### 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

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-2)

copper

#### 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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-3)

gold

#### 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 factor: Indicated category provides reasonable confidence

Evidence · table

> 0.95

Context: 38,133,903

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-4)

silver

#### 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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-5)

copper

#### 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

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-6)

gold

#### 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 factor: Inferred category is speculative

Evidence · table

> 1.20

Context: 5,288,811

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-7)

silver

#### 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 factor: Inferred category is speculative

Evidence · table

> 2.28

Context: 5,288,811

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/unigold-updates-mineral-resource-estimate-for-the-candelones-project-2-291-milli--15ee45a4-ce7c-4885-9f63-4b6ab96b3a4f#fact-resource-facts-8)

copper

#### 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 factor: 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.