- Antilles Gold (AAU) reports further high-grade gold and silver results from six cored drill holes at the La Demajagua deposit in Cuba
- The results hail from a recently completed 15,000-metre drilling program at the site
- Among the batch are “exceptional” results from one drill hole, which returned an average grade of 8.09 grams of gold per tonne from 69 metres downhole
- The final 10,000-metre program of AAU’s definitive feasibility study (DFS) has started four months ahead of schedule, with other DFS activities also tracking well
- Shares are up 3.53 per cent to 8.8 cents each at 12:28 pm AEDT
Antilles Gold (AAU) has reported further high-grade gold and silver results from six cored drill holes at the La Demajagua deposit in Cuba.
The company received the assay results from a recently completed 15,000-metre drilling program at the site following initial transport delays caused by a hurricane and Cuba’s COVID-19 restrictions.
Among the batch were several “exceptional” results from a single drill hole, P-103, which returned a weighted average grade of 8.09 grams of gold per tonne (g/t) for 69 metres downhole, including all results under the cut-off grade of 1g/t gold.
More specifically, AAU recorded an intercept of 20 metres at 19.46g/t gold with 286.88g/t silver, as well as short intercepts of 87.5g/t gold with 352g/t silver and 109g/t gold with 268g/t silver.
The company said the final 10,000-metre program for its definitive feasibility study (DFS) had also commenced four months ahead of schedule.
Other elements of the DFS are reportedly progressing to schedule, including a detailed design for mine infrastructure and a small land-backed wharf to be built four kilometres from the mine site.
Additionally, environmental approvals, geotechnical and hydrogeology reports and metallurgical test work for the initial design of an 800,000-tonne-per-annum flotation circuit and the establishment of recoveries and concentrate grades are underway.
According to AAU, Cuba has recently opened up opportunities for contract mining, with one Spanish company already operating.
As a result, Antilles is set to investigate the cost benefits of reduced capital, but possibly increased operating costs, using contractors for La Demajagua’s mining operations.
Shares were up 3.53 per cent to 8.8 cents each at 12:28 pm AEDT.