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- Antilles Gold (AAU) announces high-grade gold results from drilling at the La Demajagua gold and silver deposit in southwest Cuba
- Results include 4.17g/t gold and 36.28g/t silver over eight metres, and 5.36g/t gold over 29 metres
- Antilles says these results reflect high-grade mineralisation shown in historical drilling and will support a re-calculation of initial JORC resources
- Alongside its Cuban joint venture company, multiple activities are being conducted to develop an open pit operation at the La Demajagua deposit
- Company shares are up 5.63 per cent to trade at 7.3 cents each
Antilles Gold (AAU) has received more gold results from drilling at the La Demajagua gold and silver deposit in southwest Cuba.
Results include eight metres at 4.17 grams per tonne (g/t) gold and 36.28g/t silver from 10 metres, 17 metres at 3.48g/t gold from 20.5 metres including three metres at 10.43g/t gold, and 29 metres at 5.36g/t gold from 144.5 metres including five metres at 11.24g/t gold.
The company said these assays continue to reflect high-grade mineralisation shown in 50,000 metres of historical drilling previously undertaken at the La Demajagua ore body.
Antilles’ 49 per cent-owned Cuban joint venture company, Minera La Victoria SA, is focused on developing an open pit operation to mine 800,000 tonnes per annum of ore with an estimated 7:1 stripping ratio to produce over 60,000 tonnes per annum of high-grade refractory concentrate.
It’s expected the operation will have a six-year mine life and be followed by an underground operation for at least 10 years.
Results are pending for a further 42 holes that have been completed and another 58 holes are yet to be completed. This is expected by the end of April.
Once results have been received, they’ll support the re-calculation of an initial JORC resource for the La Demajagua deposit.
Additional work for the proposed La Demajagua open pit mine includes metallurgical testwork with results of anticipated recoveries and concentrate grades expected next month, as well as a scoping study which is also expected to be completed in late February.
Furthermore, a definitive feasibility study is on track to be delivered in September or October.
Company shares were up 5.63 per cent to trade at 7.3 cents at 2:44 pm AEDT.
