Announcement Date: 2022-09-20
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Antilles Gold Ltd.
Project name: La Demajagua
Location: Cuba
Commodities: Gold,Silver
Highlight: Drilling results incl. 13.0m at 10.3g/t Au, 49.2g/t Ag from 172m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Antilles Gold Limited (ASX Code: AAU, OTCQB: ANTMF, FSE Code: PTJ) (the “Company” or “Antilles Gold”) is pleased to announce that it has received the final outstanding assays from 28 cored drill holes in the completed 29,000m program at the La Demajagua gold-silver deposit in Cuba. Sampling Techniques and Data are set out in the JORC Code 2012 Edition Template attached. The current Indicated and Inferred Resources for the preliminary pit shell total 10.3Mt at 2.74 g/t Au (908,000 oz Au), and 29.3 g/t Ag (9.71M oz Ag) as advised to ASX on 28 June 2022, will now be revised and incorporated in an updated Scoping Study for the proposed open pit mine at La Demajagua. Construction of mine infrastructure is planned to commence in early 2023, and the twelve month mine development in mid 2023. A drilling program to establish Resources for the proposed underground operations to follow will be conducted after the open pit mine is commissioned. The Company is at the forefront of the emerging mining sector in Cuba, and expects to be involved in the development of a number of projects through its 49:51 mining joint venture with the Cuban Government’s mining company, GeoMinera SA.
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