Unigold Accelerates the Project Timelime for the Candelones Gold Project
Unigold Inc. (TSXV: UGD) announces significant progress in accelerating the timeline for its Candelones Gold Project in the Dominican Republic. Recent regulatory changes now allow the company to proceed directly with the Environmental and Social Impact Assessment (ESIA) process before receiving the exploitation concession. The company submitted its application for the exploitation concession in early 2022, and following positive technical reviews, it reached the President's office with favorable recommendations in late 2023. The final approval will grant Unigold 75-year mineral extraction rights. The ESIA process, which includes community consultations, is expected to be completed in 2026, with baseline work showing no environmental concerns.
Unigold Inc. (TSXV: UGD) annuncia progressi significativi nell'accelerazione della tempistica per il suo Progetto Aurifero Candelones nella Repubblica Dominicana. Recenti modifiche normative consentono ora all'azienda di procedere direttamente con il processo di Valutazione dell'Impatto Ambientale e Sociale (ESIA) prima di ricevere la concessione di sfruttamento. L'azienda ha presentato la sua domanda per la concessione di sfruttamento all'inizio del 2022 e, dopo revisioni tecniche positive, è giunta all'ufficio del Presidente con raccomandazioni favorevoli alla fine del 2023. L'approvazione finale concederà a Unigold diritti di estrazione mineraria per 75 anni. Il processo ESIA, che include consultazioni con la comunità, dovrebbe essere completato nel 2026, con i lavori preliminari che non mostrano preoccupazioni ambientali.
Unigold Inc. (TSXV: UGD) anuncia avances significativos en la aceleración del cronograma para su Proyecto de Oro Candelones en la República Dominicana. Los recientes cambios regulatorios ahora permiten a la empresa proceder directamente con el proceso de Evaluación de Impacto Ambiental y Social (ESIA) antes de recibir la concesión de explotación. La empresa presentó su solicitud para la concesión de explotación a principios de 2022, y tras revisiones técnicas positivas, llegó a la oficina del Presidente con recomendaciones favorables a finales de 2023. La aprobación final otorgará a Unigold derechos de extracción minera por 75 años. Se espera que el proceso ESIA, que incluye consultas comunitarias, se complete en 2026, con trabajos de referencia que no muestran preocupaciones ambientales.
유니골드 주식회사 (TSXV: UGD)는 도미니카공화국의 칸델론스 금 프로젝트의 일정 가속화에 있어 중요한 진전을 발표했습니다. 최근 규제 변화로 인해 이 회사는 개발 허가를 받기 전에 환경 및 사회적 영향 평가(ESIA) 프로세스를 직접 진행할 수 있게 되었습니다. 이 회사는 2022년 초에 개발 허가 신청서를 제출하였고, 긍정적인 기술 리뷰 이후 2023년 말에는 대통령 사무실까지 도달하여 호의적인 추천을 받았습니다. 최종 승인은 유니골드에게 75년의 광물 채굴 권리를 부여할 것입니다. 지역 사회와의 상담을 포함하는 ESIA 프로세스는 2026년까지 완료될 것으로 예상되며, 기초 작업에서는 환경 문제를 나타내지 않고 있습니다.
Unigold Inc. (TSXV: UGD) annonce des progrès significatifs dans l'accélération du calendrier de son Projet Aurifère Candelones en République Dominicaine. Les récentes modifications réglementaires permettent désormais à l'entreprise de procéder directement au processus d'Évaluation de l'Impact Environnemental et Social (ESIA) avant de recevoir la concession d'exploitation. L'entreprise a soumis sa demande de concession d'exploitation au début de 2022 et, après des avis techniques positifs, a atteint le bureau du Président avec des recommandations favorables à la fin de 2023. L'approbation finale accordera à Unigold des droits d'extraction minière de 75 ans. Le processus ESIA, qui comprend des consultations avec la communauté, devrait être achevé d'ici 2026, avec des travaux préliminaires ne montrant aucune préoccupation environnementale.
Unigold Inc. (TSXV: UGD) kündigt erhebliche Fortschritte bei der Beschleunigung des Zeitplans für ihr Candelones-Goldprojekt in der Dominikanischen Republik an. Kürzliche regulatorische Änderungen erlauben es dem Unternehmen, unmittelbar mit dem Prozess der Umwelt- und Sozialverträglichkeitsprüfung (ESIA) zu beginnen, bevor die Genehmigung zur Ausbeutung erteilt wird. Das Unternehmen hat Anfang 2022 seinen Antrag auf die Ausbeutungsgelegenheit eingereicht, und nach positiven technischen Überprüfungen erreichte es Ende 2023 das Büro des Präsidenten mit günstigen Empfehlungen. Die endgültige Genehmigung wird Unigold 75-jährige Mineralabbaurechte gewähren. Der ESIA-Prozess, der auch die Konsultation der Gemeinschaft umfasst, wird voraussichtlich im Jahr 2026 abgeschlossen sein, wobei die Basisarbeiten keine umweltbezogenen Bedenken zeigen.
- Regulatory changes allow faster project development timeline
- Project received positive technical review and recommendation
- Pending 75-year exploitation license approval
- Strong community support since 2002
- No environmental concerns identified in baseline work
- Project development suspended since 2022
- ESIA completion not expected until 2026
Toronto, Ontario--(Newsfile Corp. - November 26, 2024) - Unigold Inc. (TSXV: UGD) (OTCQB: UGDIF) (FSE:UGB1) ("Unigold" or the "Company") announces that the Government of the Dominican Republic has set clear guidelines for the commencement of the Environmental and Social Impact Assessment ("ESIA") process for the Candelones gold project prior to the granting of an exploitation concession.
Unigold has confirmed that recent changes to Dominican environmental regulations enable the Company to proceed directly to the ESIA which includes community consultations and a finalization of the design parameters for the Candelones oxide project. Previously, the Ministry of Environment was unable to review mining project applications without a final decision on the Exploitation Concession Licence. Unigold started working with the Ministry of Energy and Mines in mid-2024 to identify ways to accelerate the project timeline for the Candelones project. The appointment of a new, progressive Mines Minister in 2024 allowed the Ministry of the Environment and the Ministry of Energy and Mines to find a path forward for all mining projects in the Dominican Republic. The completion of the ESIA process in advance of awarding the 75-year Exploitation Licence gives the Dominican government far more certainty that mining projects will be designed and executed in an environmentally sustainable manner and allows communities to have a say in the development of their local resources. In addition, projects will require a level of engineering consistent with full feasibility study requirements using recent cost estimates and market studies.
Unigold's application for the conversion of the Neita area into an Exploitation Concession was submitted in early 2022 and work in the concession area was suspended by the Ministry of the Environment at that time. Unigold delivered a full feasibility study for the Candelones Gold Project in late 2022. Exhaustive technical reviews of the 2022 feasibility study by the Ministry of Energy and Mines resulted in the application being passed to the Presidents office with a positive recommendation in late 2023. The final approval of the Exploitation Licence will give Unigold the sole rights to extract minerals from the concession area for 75 years.
The regulatory change allows Unigold to accelerate the timeline for the Candelones Project by advancing the ESIA process. Baseline work commenced in 2022 and the Company is positioned to complete the ESIA report for circulation and consultation with the local communities in Q2 of 2025. Unigold has maintained a presence in the local communities since 2002 and enjoys strong community support for its activities. The ESIA process is expected to be completed in 2026. Baseline work has not identified any conditions which would impact the environmental feasibility of the project.
About Unigold Inc. - Discovering Gold in the Caribbean
Unigold is a Canadian based mineral exploration company traded on the TSX Venture Exchange under the symbol UGD, the OTCQB exchange under the symbol UGDIF, and on the Frankfurt Stock Exchange under the symbol UGB1. The multi-million ounce Candelones gold deposits are within the
For further information please visit http://www.unigoldinc.com or contact:
Mr. Joseph Hamilton
Chairman & CEO
T. (416) 866-8157
Forward-Looking Statements
Certain statements contained in this document, including statements regarding future events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. The forward-looking statements contained in this document are made as of the date hereof and we assume no obligation to update the forward-looking statements. Where applicable, we claim the protection of the safe harbour for forward- looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995. For more information, please visit https://www.unigoldinc.com/profile/forward-looking-statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231381
FAQ
What is the current status of Unigold's (UGDIF) Candelones Gold Project?
When did Unigold (UGDIF) submit its exploitation concession application?
How long will Unigold's (UGDIF) exploitation license be valid for?
When is Unigold (UGDIF) expected to complete the ESIA process?
