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- Antilles Gold (AAU) confirms copper mineralisation at its El Pilar porphyry deposit in central Cuba
- The company has received drill results from two recently-completed holes in the area, with hits including 134 metres at 1.23 per cent copper from 49 metres
- Antilles says the results confirm that sulphide copper mineralisation is related to porphyry intrusives underlying a high-grade oxide copper-gold zone
- The company will soon begin a geophysical program, which will be followed by 15,000 metres of drilling at El Pilar
- Company shares are down 16.28 per cent to trade at 3.6 cents at 3:28 pm AEDT
Antilles Gold (AAU) has confirmed copper mineralisation at its El Pilar porphyry deposit in central Cuba.
The company has received copper assays from two holes drilled as part of a six-hole program completed in September.
One of the holes intercepted continuous oxide and sulphide copper mineralisation that remains open at depth.
Highlighted results from this drill hole include 134 metres at 1.23 per cent copper from 49 metres, including 18.5 metres at 5.52 per cent copper from 59 metres in the oxide zone and 5.5 metres at 4.17 per cent copper from 166.5 metres in the sulphide zone.
Antilles said these results confirmed that sulphide copper mineralisation was related to porphyry intrusives underlying the oxide copper-gold zone, which were the source of all mineralisation at El Pilar.
Looking ahead, Antilles will undertake an induced polarisation and magnetics program to identify the extent and distribution of sulphide mineralisation, as well as to define the size and extent of the target porphyry copper-gold mineralisation at depth.
The company will also plan a follow-up 15,000-metre drilling program once the geophysical program is complete.
In addition to progressing exploration, the company intends to complete JORC-compliant resources and a scoping study for a proposed low-CapEx open-cut oxide gold-copper mine at El Pilar to produce gold and copper concentrates.
Company shares were down 16.28 per cent to trade at 3.6 cents at 3:28 pm AEDT.
