Antilles Gold (ASX:AAU) has received additional assays from a 1,800m drilling program completed in September 2022 identifying ‘high-grade’ copper on the El Pilar gold-copper oxide deposit in central Cuba.
The assays were conducted by SGS’s certified laboratory in Canada, which has confirmed those previously conducted by the LACEMI laboratory in Cuba.
New results uncovered by the company include PDH-004A with 134.5m @ 1.13% Cu from 49.85m including, 18.5m at 4.85% Cu; and PDH-005 with 18m @ 1.1% Cu from 32.7m including, 3.8m @ 3.92% Cu, and 10.7m @ 7.77g/t Au.
Executive Chairman of Antilles Gold Brian Johnson said: “Activities in Cuba were transitioning into 2 distinct arms. One will focus on developing a series of relatively small gold mines within the Minera La Victoria joint venture but having the potential for worthwhile cumulative gold production and profitability, and the other one exploring major copper targets.”
“The company’s objective remains for anticipated surplus cash flow from the near term La Demajagua mine development to assist in funding subsequent gold projects, and in the exploration of the significant copper prospects.”
“The company’s objective remains for anticipated surplus cash flow from the near term La Demajagua mine development to assist in funding subsequent gold projects…”
A drilling program will begin in April 2023 on the gold and copper oxide domains, and on targets within a cluster of porphyry intrusives at El Pilar. Antilles Gold also adds that the El Pilar gold-copper oxide deposit will be transferred to the existing joint venture with GeoMinera in the near future for further exploration and studies and expected development.
Antilles Gold is an Australian mining company engaging in the consecutive development of previously explored copper, gold, and silver deposits in mineral rich Cuba. Antilles Gold’s joint venture mining company GeoMinera was established in August 2020 intended to develop an open pit mine on the country’s largest known gold and silver deposit, La Demajagua.
