Antilles Gold is seeking to get its foot on a slew of copper-gold deposits in Cuba after signing a letter of intent with a government-owned entity that will allow it to assess multiple potential projects. Six mining concessions are up for grabs with 20 known deposits, potentially adding a string of golden opportunities to the company’s lucrative pipeline in the under-explored region.
According to the company, data from historic exploration suggests the 20 known deposits are porphyry copper-gold and epithermal gold deposits.
Antilles is no stranger to exploring in Cuba. It commenced negotiations to acquire its La Demajagua gold project in late 2018 and finalised the transaction in August 2020. Whilst historically, Canadian miners have dominated the exploration and mining scene in Cuba, Australian-based Antilles is getting some early runs on the board having recently completed a 15,000-metre diamond drilling program in-country that continues to deliver thick high-grade gold intercepts at shallow depths.
Antilles and joint venture partner, state-owned GeoMinera, are now expediting La Demajagua towards production and the partners are expecting to release a maiden JORC 2012 resource before the close of 2021. Presently, the company’s exploration target over the deposit is an impressive 16 to 20 million tonnes at a grade ranging from 2.3 to 2.7 grams per tonne gold and a handy 17 to 23 g/t of silver.
The projected resource at La Demajagua will likely contain more than 1.2...
Read Full Story: https://thewest.com.au/business/public-companies/antilles-seeks-to-expands-cuban-hunt--c-4026382
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