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- Antilles Gold (AAU) intersects further high-grade gold and silver at the La Demajagua gold-silver deposit in Cuba
- A 15,000-metre drilling program will be completed this week with results to be progressively received from now until the end of September
- The company has received assays for a further 35 holes with grades peaking at 37.5 grams of gold per tonne (g/t) and 204.1g/t silver
- An additional 10,000 metres is planned for early 2022 to define JORC resources and finalise planning for the proposed open-pit mine
- Antilles is up 8.75 per cent on the market with shares trading at 8.7 cents
Antilles Gold (AAU) has intersected further high-grade gold and silver at the La Demajagua gold-silver deposit in Cuba.
The 15,000-metre drilling program will be completed this week with results to be received progressively from Activation Laboratories in Toronto from now until the end of September.
So far, 14,667 metres have been drilled with 129 of the planned 132 holes completed.
Best results include two metres at 5.04 grams of gold per tonne (g/t) and 204.1g/t silver from 158.5 metres; and six metres at 11.99g/t gold from 10 metres including one metre at 37.5g/t gold.
Drill core will be air-freighted to a laboratory next month to begin metallurgical testwork required for the design of the flotation circuit.
Further holes will be drilled in September for geotechnical and hydrogeology investigations to form part of the definitive feasibility study (DFS).
An additional 10,000 metres has been planned for early 2022 to define JORC resources and finalise planning for the proposed open pit mine.
Executive Chairman Brain Johnson commented on the results.
“We are pleased to receive the third set of results from the initial 15,000-metre drilling program that is nearing completion, and continue to be impressed with the high grade of ore that will be available for the relatively low cost open pit mining operation planned at La Demajagua,” Mr Johnson said.
“As a consequence of the continuing availability of the drilling contractor, we are considering bringing the final 10,000-metre drilling program forward by four months which could result in a similar saving in time for the finalisation of the DFS.”
Antilles was up 8.75 per cent on the market with shares trading at 8.7 cents at 12:03 pm AEST.
