Antilles Gold Limited (ASX: AAU| OTCQB: ANTMF) has reported high-grade drilling results including 20m @ 6.3 g/t Au from its La Demajagua gold/silver deposit in Cuba.
high-grade drilling results including 20m @ 6.3 g/t Au
The company said that 10,000m (90 holes) of the current 15,000m program has been drilled, with completion expected in early August 2021. Assays are expected to continue to be received through to the end of September 2021.
Drilling at La Demajagua
The company had recently commenced a two stage, 25,000 drilling program aimed at defining a resource at La Demajagua. The drill hole locations and depths were determined utilising historical drilling data generated up until the late 1990’s.
AAU said that approximately 10,000m (90 holes) of the current 15,000m program has been drilled, with completion expected in early August 2021.
Analysis of samples
The company said that samples are being analysed at Activation Laboratories in Toronto with Sampling Techniques and Data set out in JORC Code 2012 Edition. Antilles has now reported encouraging results from the 17 cored holes were analysed to date.
Outstanding high-grade gold intercepts
High-grade gold intercepts were reported from 14 of the 17 cored holes that have been analysed to date. Additional assays will be received through to the end of September 2021.
All significant gold intercepts (downhole) are as shown below.
Silver intercepts
The company reported that silver was also evident in numerous intercepts with grades of up to 736 g/t Ag.
Updates and next steps
The current drilling program, and a 10,000m in-fill program scheduled for early 2022 are aimed at establishing JORC Resources and finalising planning for the proposed open pit mine at La Demajagua.
Approximately 2,000kg of representative drill core will be air-freighted to a laboratory in either Australia or Canada around October 2021 for metallurgical test work and the production of concentrate samples for marketing purposes.
Additional holes are planned to be drilled in August/September 2021 for geotechnical and hydrogeology investigations which will form part of the Bankable Feasibility Study (BFS) for the proposed open pit mine. The BFS will be compiled by an Australian engineering group and should be completed in time for a development decision for the La Demajagua mine, in Q4 2022.
The company said that the exploration for the planned underground operation will most likely not take place until three years after the open pit mine is commissioned, which is targeted for late 2023.
“(we) are impressed at this stage of the program with the high grade of ore that could be available for a straight forward and low-cost open pit mining”
Management comments
Antilles Gold Executive Chairman, Brian Johnson said: “We are pleased to receive the first set of results from the current drilling program and are impressed at this stage of the program with the high grade of ore that could be available for a straight forward and low-cost open pit mining operation at La Demajagua”.
Images: Antilles Gold Limited