Antilles (ASX:AAU) drill towards development
July 4, 2023Antilles Gold has further supported the creation of a low capex Nueva Sabana open pit mine, with exceptional results coming from 24 cored drill holes into the El Pilar gold-copper oxide deposit in Central Cuba.
A 13.0m at 45.17 g/t Au from the surface strike was the headliner but just one of many high-end strikes into the gold domain, with a thick 72.4m at 0.58% Cu intercept coming in as the top copper result.
The results will heighten interest in a mine that could be development ready within a year, constructed in sync with a proposed La Demajagua gold, antimony and silver mine and providing significant early cash flow to Antilles’ expansive Cuban operations.
The gold zones within El Pilar are well-defined. In contrast, copper zones continue to expand, and Antilles’ Executive Chairman Brian Johnson said the company would produce an Exploration Target Range as soon as possible to establish a mineral resource and fully gauge the size of Nueva Sabana.
Making a mine
Antilles see a litany of reasons to develop Nueva Sabana, with a flat, unoccupied site lying in an infrastructure-rich region and able to quickly produce gold concentrate before moving deeper to in-demand copper-gold concentrate.
Metallurgy has indicated excellent recovery rates for both copper and gold from a simple flotation circuit.
Antilles estimate that a concentrate buyer would likely finance a development cost of less than US$20 million as it continues to explore its Caribbean assets.
More to come
More results are expected, including returns from the first two diamond holes into El Pilar, which intersected a large-copper gold porphyry system with highly encouraging mineralisation. Still, drilling will soon be put on hold as negotiations begin with the Cuban Mining authorities to establish a new copper joint venture and draft agreements two develop mining operations at La Demajagua and Nueva Sabana.
Drilling highlights
Gold Domain
- 13.0m at 45.17 g/t Au from the surface, including 3.0m at 194 g/t Au
- 53.5m at 19.06 g/t Au from 10.0m, including 16.4m at 41.64 g/t Au
- 8.0m at 5.88 g/t Au from surface
- 18.0m at 2.23 g/t Au from 4.0m
- 7.0m at 5.27 g/t Au from 1.0m, including 3.0m at 10.87 g/t Au
- 24.0m 1.48 g/t Au from 2.0m
- 16.0, at 6.30 g/t Au from 2.0m, including 4.0m at 11.75 g/t Au
Previously Unreported
- 17.28 g/t Au from 63.0m, including 2.0m at 74.01 g/t Au
- 6.0m at 4.8 g/t Au from 24.0m
- 2.0m at 8.41 g/t Au from 33.0m
Copper Domain
- 72.4m at 0.58% Cu from 36.6m, including 26.2m at 0.79% Cu
- 30.5m at 0.51% Cu from 49.5m, including 8.0m at 1.27% Cu
- 134.5m at 1.13% Cu from 49.85m, including 18.5m at 4.84% Cu
- 18.0m at 1.1% Cu from 32.7m, including 3.8m at 3.92% Cu
- 24.0m at 0.71% Cu from 14.0m, including 10.0m at 1.4% Cu
- 22.0m at 1.17% Cu from 44.0m, including 5.0m at 2.2% Cu
Previously Unreported
- 11.0m at 0.75% Cu from 50.0m, including 3.0m at 1.56% Cu
- 3.0m at 0.96% Cu from 37.0m
- 56.0m at 0.79% Cu from 43.0m, including 6.0m at 1.72% Cu
- 21.0m at 0.72% Cu from 81.0m
JV project locations
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