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Dominican Republic
Candelones Project

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 Location:
103 Km W from Santiago De Los Caballeros, Dominican Republic

  Project Contacts:
Ste. 2704-401 Bay St. P.O. Box 4
Toronto
Ontario, Canada
M5H 2Y4
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  • Overview
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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life3 years (as of Jan 1, 2021)
Activities remain on schedule and the Company expects to be able to deliver a NI43-101 compliant feasibility study (“FS”), an Environmental and Social Impact Assessment (“ESIA”) and an approved Exploitation Concession licence during the third quarter of 2022.


Owners

Source: p. 21
CompanyInterestOwnership
Unigold Inc. 100 % Indirect
Unigold holds a 100% interest in the Neita Concession by means of Mining Resolution R-MEM-CM-016-2018, granted by the Ministry of Energy and Mines (Ministerio de Energiá y Minas) on May 10, 2018, through the Directorate General of Mining (Direccion General de Minera or DGM).

Contractors

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Deposit Type

  • Epithermal
  • Vein / narrow vein
  • Breccia pipe / Stockwork
  • VMS
  • Hybrid


Summary:

The term Candelones Project refers to the area within the Concession in which the Candelones Main (CM), Candelones Extension (CE) and Candelones Connector (CMC) deposits are located. The deposits that comprise the Candelones Project are entirely contained within the confines of the property.

The Candelones deposits feature anomalous gold, silver, copper, lead and zinc mineralization. To date, all mineralization is confined to brecciated dacite volcanoclastics where they are in contact with andesite volcanics/volcanoclastices (CMC, CE) or dacite volcanics (CM).

Mineralization is currently interpreted to be a product of a hybrid type system. Volcanogenic massive sulphide (VMS) in a shallow water, back arc basin setting, is interpreted to have introduced low tenor copper, lead and zinc mineralization, coeval with deposition of the host dacite volcanoclastics, over a widespread area. Post mineral uplift developed extensive folding and faulting, interpreted to have produced extensive brecciation within the dacite volcanoclastic unit. The brecciated dacites offered ideal pathways for later, epithermal mineralization events associated with the late calc-akaline intrusives mapped elsewhere in the Tireo Formation that are possibly largely buried within the Concession limits. Hydrothemal fluid flow related to these buried intrusives is interpreted to have introduced the majority of the gold and silver into the Candelones deposits. The final stage of mineralizatio ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Due to the fact that the targeted mineralization is located at or near the surface topography, it was determined that mining of the deposit would be best performed by open pit rather than underground methods.

The Candelones Starter Pit will primarily be mined using hydraulic excavators, which are easily able to free dig the mineralized overburden and oxidized rock and waste down to the transition material. The PEA assumes that only the transition leach feed and transition waste will require blasting. The total amount of rock that will require blasting is 14% of the total and will be encountered during the latter half of the mine life.

The leach feed to be sent to a primary crusher will be oxidized saprolitic material which will not be blasted, transition material which is partially oxidized and is planned to be blasted 75% of the time, and fresh unoxidized sulphide rock which will be blasted 100% of the time and will use a higher powder factor.

The production requirement for the Candelones Project was to establish a mining rate that would achieve an optimal balance between capital cost minimization and operating cost minimization. This was achieved through the adoption of a three-year mine life, with all mineralized rock above the cut-off grade going directly to the primary crusher and then onto the leach pad.

Mining of the Candelones Starter pit will generally be executed in 4 m benches, using 2 m flitches where preferred. Whereas ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Payable metal oz 90,116
Gold Metal in doré oz 31,04095,587

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
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Reserves at May 10, 2021:
Cut-off grades of 0.28 g/t Au (OXIDE PIT), 0.49 g/t Au (TRANSITION), 0.66 g/t Au (SULPHIDE – OPEN PIT) and 1.90 g/t Au (SULPHIDE – UNDERGROUND).

CategoryOreTypeTonnage CommodityGradeContained Metal
Measured & Indicated Sulphide 20,484 kt Gold 1.62 g/t 1,065 koz
Measured & Indicated Oxide 3,467 kt Gold 0.82 g/t 91 koz
Measured & Indicated Sulphide 20,484 kt Silver 3.79 g/t 2,497 koz
Measured & Indicated Sulphide 20,484 kt Copper 0.15 % 65,731 k lbs
Measured & Indicated Sulphide 20,484 kt Gold Equivalent 1.89 g/t 1,244 koz
Inferred Sulphide 23,797 kt Gold 1.39 g/t 1,063 koz
Inferred Oxide 1,632 kt Gold 0.68 g/t 36 koz
Inferred Sulphide 23,797 kt Silver 2.58 g/t 1,972 koz
Inferred Sulphide 23,797 kt Copper 0.09 % 45,878 k lbs
Inferred Sulphide 23,797 kt Gold Equivalent 1.55 g/t 1,190 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required&nbs
Total cash costs Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
All-in costs Gold USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
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Operating Costs:

Units2021
OP mining costs ($/t milled) USD 3.22 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 31.5
G&A costs $M USD 10.2
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
Operating margin (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax NPV @ 7.5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 7.5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of May 10, 2021:
HME TypeModelQuantityLeased or
Contractor
Dozer (crawler) ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameEmailProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 3, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required May 10, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required May 10, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required May 10, 2021
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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