Antilles Gold Limited (ASX: AAU) (OTCQB: ANTMF) has requested the addition of a new, large porphyry copper-gold deposits into its Cuban portfolio following a recent review.
The company’s Exploration Director, Dr Chris Grainger, has recommended that the copper-gold deposits located near Ciego de Avila in central Cuba be included in the company’s Los Llanos Exploration Agreement with the Cuban Government’s mining company, GeoMinera SA.
The company has also recommended that these previously explored and highly prospective properties be prioritised for early exploration, and should be drill-ready in a few months.
Review Highlights
• The surface exposures of the group of deposits, El Pilar, San Nicholas, and Gapar, are the leached phyllic caps of copper/gold porphyry cores. Copper is widespread with the gold mineralisation, and generally located at the saprolite/saprock contact where the copper has leached downwards in the weathering profile above fresh rock.
• Given the size of the phyllic alteration zones at surface, the potential size of the mineralised copper/gold porphyry ore bodies indicate it is a very large open pit prospect, and an excellent exploration opportunity.
The Report has been submitted to GeoMinera SA, together with the proposed work programme and budget through to end 2023. If, as expected, exploration and studies during this period confirm the development potential for a major open pit mine, the 212 sq. km Mining Concession holding the porphyry system will be transferred to the existing joint venture mining company, Minera La Victoria SA.
Potential “Company Maker”
Antilles Gold’s ExecutiveChairman¸ Brian Johnson, said that Dr Grainger, who is a highly successful explorationist in Colombia and other Latin American countries, believes the porphyry deposits could collectively become a “company maker”, and potentially the next project to follow the Minera La Victoria’s near-term development of the La Demajagua open pit mine.
Detailed work programmes and budgets for the activities to be carried out under the Los Llanos Project through to December 2023 will be determined in consultation with GeoMinera later this month but will include reinterpretation of existing data, geological mapping, geophysical surveys including ground magnetics, and induced polarisation (I.P.) programmes, and a drilling programme on those properties indicating development potential.
For further information please visit: https://antillesgold.net/
