Antilles (ASX:AAU) spot high end Cuban targets

Antilles Gold have confirmed two major copper-gold targets close to a previously identified Cu-Au porphyry system within the Company’s exciting El Pilar Project in Central Cuba.

IP and ground magnetics identified El Pilar and Gaspar systems over half the property, with significant dimensions and anomalous zones coincident on numerous lines of geophysical survey.

Recent drilling into the outer zone of the El Pilar deposit returned with a hefty 134m @ 1.23% copper strike remaining open at depth.

The Company hopes follow up drilling will unearth a potentially world-class deposit.

Antilles Exploration Director Dr Christian Grainger said the survey clearly shows potential for both gold and copper oxide mineralisation.

“Detailed geological mapping of both outcrops and drill core shows a mineralogical association that indicates the porphyry metal and heat source to both the El Pilar and Gaspar targets are associated with dioritic intrusions that at El Pilar has been intersected in recent drilling, and at Gaspar should be located immediately below the strongly hydrothermally altered surface outcrops,” Dr Grainger said.

“Gaspar is an additional target for copper-gold mineralisation that remains largely undrilled. Both targets are expected to have significant vertical extensions which should become evident in 3D block models which are currently being prepared.”

Cuba has been looking to attract foreign investors in recent years, offering tax breaks and favourable terms for joint ventures like El Pilar to unlock its notable mining potential.

Antilles could feasibly look at moving to majority ownership with local government support.

Meanwhile, locations for the first five x 600-metre drill holes have been marked with drilling anticipated to begin shortly.

ANTILLES FPO [AAU]

Sector: Basic Materials

Industry: Gold

Employees:

Antilles Gold Limited engages in the exploration, evaluation, and development of mineral properties in Cuba. The company explores for gold, silver, and copper deposits. It holds interests in the La Demajagua open pit mine located on the Isle of Youth, southwest Cuba; and Nueva Sabana open pit mine situated in central Cuba. The company was formerly known as PanTerra Gold Limited and changed its name to Antilles Gold Limited in November 2020. Antilles Gold Limited was incorporated in 1984 and is based in Bowral, Australia.

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