Antilles (ASX:AAU) return more high-grade Cuban commodities
September 21, 2023Antilles Gold‘s latest four holes into El Pilar have again struck very high-gold grades and strong copper intercepts from the oxide deposit in central Cuba.
The results continue to reinforce near-term development of a proposed low capex Nueva Sabana mine at the project, with high-grade gold now extending from surface to up to 50 metres deep, and the underlying copper domain continuing for another 50 to 70 metres.
Highlights
Gold Domain
- 8.0m at 1.54g/t Au from surface, 7.0m at 2.53 g/t Au from 37.0m
- 9.0m at 20.1g/t Au from 34.0m including 2.0m at 84.82g/t Au
- 10.5m at 31.9g/t Au from 46.5m including 6.0m at 53.53g/t Au
- 28.0m at 1.47g/t Au from 12.0m
Copper Domain
- 9.0m at 1.03% Cu from 16.0m and17.0m at 0.47% Cu from 50.0m
- 14.5m at 1.35% Cu from 47.0m, 17.0m at 0.72% Cu from 70.0m, 13.0m at 0.98% Cu from 101.0m
- 4.0m at 1.25% Cu from 36.0m
“It is intended to engage a second drill rig to undertake additional holes planned for the underlying El Pilar copper porphyry system, to avoid interrupting the oxide drilling,” Antilles Executive Chairman Brian Johnson said.
“Structural interpretation of the results of porphyry drilling to date to determine where the next holes
are to be located, will be completed following receipt of assays in around three weeks.”
Drill results have continued to build confidence in the operation, and Antilles’ joint venture with Cuba’s state-owned mining operator intend to develop Nueva Sabana as soon as possible, with a ten-month construction period planned to begin next year.
Plan of production
It will take another 2300 metres of drilling to establish the initial resource for Nueva Sabana, but the gold zones within the oxide deposit are already well-defined and copper zones continue to increase in volume and are expected to project into the underlying porphyry sulphides.
The metallurgically simple deposit has yielded gold recoveries of 85 per cent from a simple circuit, producing a 53.1g/t Au concentrate from a 2.11g/t Au ore sample, and negotiations have begun on advanced gold sales to fund the project.
The gold is shallow and high-grade, but the true prize appears to be the copper, and preliminary metallurgy has indicated a 25 per cent concentrate will be achievable from the underlying domain.
Antilles have the potential development for two open-pit Cuban mines at El Pilar and La Demajagua near in sight and will continue looking at exploration opportunities in the island nation with confidence its assets lie in a mineral-rich and mining-friendly jurisdiction.
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