- Antilles Gold (AAU) announced the company has established the Maiden Mineral Resource Estimate (MRE) for its La Demajagua gold-silver deposit in Cuba
- The open pit operation is a joint venture with the Cuban government’s mining company, GeoMinera SA
- The MRE shows an indicated resource of 3.27 grams per tonne of gold and 40.5 grams per tonne of silver
- The estimate will be finalised after results have been received in approximately four months from holes that are currently being drilled
- Antilles Gold last traded at 7.2 cents on January 27
Antilles Gold (AAU) announced the company has established the Maiden Mineral Resource Estimate (MRE) for its La Demajagua gold-silver deposit in Cuba.
The open pit operation is a joint venture with the Cuban government’s mining company, GeoMinera SA.
The MRE shows an indicated resource of 3.27 grams per tonne of gold and 40.5 grams per tonne of silver.
The MRE will be updated when assays are received in around two months from drill holes
that have already been completed and be finalised after results have been received in approximately four months from holes that are currently being drilled.
Indicated and Inferred Resources assessed to date of 720,000 ounces of gold from new and historic drilling, are expected to increase with additional results when the current drilling program has been completed, according to Executive Chairman Brian Johnson.
As soon as the preliminary metallurgical work on the La Demajagua mineralization is completed, financial analysis from the current Scoping Study for the open pit mine will be published.
Mineral Resources are reported at a block cut-off grade of 0.8 grams of gold per tonne.
Antilles Gold last traded at 7.2 cents on January 27.