Cuban Project Impressing In Lead Up To DFS
Antilles Gold Limited (ASX:AAU) OTCQB: ANTMF) continues to obtain high-grade gold and silver results from the latest assays received from five cored drill holes at the La Demajagua gold/silver deposit in Cuba.
The first stage 15,000m drilling programme for the Definitive Feasibility Study (DFS) of the planned La Demajagua open pit mine has been completed, however assay results have been delayed recently by restrictions on the transport of drill core due to a hurricane and Covid 19 lock downs in Cuba.
The momentum of sampling and assays has resumed and receipt of results will recommence on a regular basis going forward. The second and final stage 10,000m programe has been brought forward by four months and will now commence in the second week of October 2021.
Other elements of the DFS, including environmental approvals, geotechnical and hydrogeology reports, and metallurgical testwork for the preliminary design of an 800,000 tpa flotation circuit and estabilishment of recoveries and concentrate grades, are progressing to schedule.
The aim is to commence construction of infrastructure for the La Demajagua mine including site works, offices, workshops and camp accommodation, in July/August 2022, with pre-stripping of waste from January 2023 followed by the turnkey supply of crushing, milling, and concentrate circuits, and an 8 MW power station.
Drilling highlights:
Hole P-090… 5.0m at 2.6 g/t Au & 25.7 g/t Ag from 129.0m 3.0m at 2.56 g/t Au from 137.0m
P-071 2.0m at 5.65 g/t Au from 117m 9.0m at 3.54 g/t Au & 42.5 g/t Ag from 137.5m incl 2.0m at 7.4 g/t Au 4.0m at 3.32 g/t Au incl 2.0m at 5.02 g/t Au
P-086 8.0m at 2.35 g/t Au & 12.35 g/t Ag from 119.0m incl 1.0m at 7.88 g/t Au
P-095 26.0m at 3.50 g/t Au & 94.76 g/t Ag from 44.0m incl 5.0m at 7.93 g/t Au
P-057 5.0m at 2.90 g/t Au & 85.5 g/t Ag from 3.0m incl 3.0m & 7 4.0 g/t Au 2.0m at 2.52 g/t Au & 87.8 g/t Ag from 17.0m 2.0m at 5.0 g/t Au & 27.65 g/t Ag from 31.0m incl 1.0m at 8.95 g/t Au
Results continue to reflect high grade mineralisation evidenced in 50,000m of drilling of the La Demajagua ore body previously undertaken by Canadian mining companies.
Antilles Gold is focussed on organic growth through the successive development of a number of gold and copper/gold projects in mineral rich Cuba, and on realising the value of assets it holds in the Dominican Republic. The Company is at the forefront of the emerging gold mining sector in Cuba and intends to participate in the d
evelopment of a series of gold and copper/gold projects in a 49:51 joint venture with Cuban Government mining company, GeoMinera SA.
The near term projects of the joint venture company, Minera La Victoria SA, are the proposed development in 2023 of the La Demajagua gold/silver mine on the Isle of Youth in south west Cuba to produce high grade gold concentrate, and the potential development of multiple pits and a centralised concentrator based on the previously explored Florencia and Maclama sulphide gold deposits near Guáimaro in south east Cuba.
Minera La Victoria has a pipeline of potential development projects in addition to these two, including a very large VMS copper/gold deposit at Golden Hills near Florencia, and a large number of copper/gold deposits that are currently being reviewed for prospectivity by Antilles Gold.
For further information please visit: https://antillesgold.net/
