- Antilles Gold (AAU) receives high-grade results from the La Demajagua gold and silver deposit in Cuba
- The company is completing a 15,000-metre drilling program which will allow it to establish a mineral resource and plan an open pit mine
- The latest results come from 14 holes and return grades of up to 40.4g/t gold
- Antilles expects the current program will wrap up in August with assays to be received through to the end of September
- Company shares were up 33.9 per cent and were trading at 8.7 cents
Antilles Gold (AAU) has received high-grade drilling results from the La Demajagua gold and silver deposit in Cuba.
The latest results are from 14 of the 17 holes analysed to date as part of Antilles’ 15,000-metre drilling program.
This work, along with a 10,000-metre infill program scheduled to start early next year, is aimed at established JORC resources and planning a proposed open pit mine at the La Demajagua deposit.
Latest results include 20 metres at 6.3g/t gold from 148 metres including 3.5 metres at 12.05g/t gold, 31 metres at 4.97g/t gold from 112 metres including five metres at 11.02g/t gold, and three metres at 25.5g/t gold from 80.5 metres including 1.5 metres at 40.4g/t gold.
“We are pleased to receive the first set of results from the current drilling program and are impressed at this stage of the program with the high-grade of ore that could be available for a straightforward and low-cost open pit mining operation at La Demajagua,” Executive Chairman Brian Johnson said.
Pleasingly, these results reflect high-grade mineralisation results from previous and historical drilling.
The current drilling program is expected to wrap up in August with assays to be received through to the end of September.
Around that time, Antilles will drill more holes to support investigations that will form part of the bankable feasibility study (BFS) for the proposed open pit mine. The company expects the BFS will be completed in the final quarter of 2022.
Company shares were up 33.9 per cent and were trading at 8.7 cents at 11:11 am AEST.