Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Unigold has released the results of two holes completed at the Candelones Extension deposit, within its 226-sq.-km Neita concession in the Dominican Republic.
The latest drilling extends two targets within the Candelones Extension and suggests a new zone of stockwork sulphide mineralization.
Drill highlights include 129.5 metres of 1.29 g/t gold in hole LP19-138 which includes a 79.1 metre-long section of 1.9 g/t gold within semi-massive sulphide mineralization. This hole extends the sulphide lens at Target A within the Extension deposit by 40 metres into the underlying footwall.
Hole LP19-139 returned 117.5 metres of 1.91 g/t gold which includes a high-grade, polymetallic 16.6 metre-long section of 3.37 g/t gold, 12.96 g/t silver and 2.13% zinc.
This intercept grows the strike of Target B within the Extension by 50 metres to the east, towards Target A, suggesting that the two areas may meet at depth.
“Assay results indicate that the tenor of the mineralization within the higher-grade systems is increasing with depth.”
Joe Hamilton, unigold chairman and CEO
This hole also intercepted a 45 metre zone of low-grade gold and copper stockwork sulphide mineralization, which is 50 metres to 100 metres into the footwall from Target B.
“The latest results continue to demonstrate the potential of the Candelones system,” Joe Hamilton, the company’s chairman and CEO, said in a release.
“Assay results indicate that the tenor of the mineralization within the higher-grade systems is increasing with depth.”
The company has also started a metallurgical test program with four bulk samples sent to Richmond, B.C., for the first comprehensive testing of the higher-grade material at Neita. Results are expected in the second half of the year.
A resource estimate completed in 2013 for the Candelones deposits outlined inferred open pit oxide resources of 3.6 million tonnes at 0.98 g/t gold for a total of 112,000 gold oz.
Inferred open-pittable sulphide resources came in at 30.2 million tonnes at 1.5 g/t gold for a total of 1.46 million oz. of gold.
An additional report released in 2015 estimated inferred sulphide resources for underground extraction of 5.3 million tonnes grading 5.27 g/t gold for a total of 894,000 gold oz. Current resources are contained within the Candelones Extension, Main and Connector deposits.
Unigold announced a 20,000 metre drill program for Neita in October 2019.
(This article first appeared at the Canadian Mining Journal)
