HAVANA, April 12th Antilles Gold Limited is pleased to announce continuing high-grade gold and silver assays received from an additional 30 cored drill holes at the La Demajagua gold/silver deposit in Cuba. Since February 2021, 26,500m of drilling has been undertaken on the La Demajagua gold-silver deposit, with the Initial JORC Resources advised to ASX on 28 January 2022 based on assays from 12,384m of core from 114 drill holes and selected data from 50,000m of historic drilling.
The final 1,500m of drilling will be completed this month.
The Initial Indicated and Inferred Resources for the preliminary pit shell totaled 7.7Mt at 2.9g/t Au ( 720,000 oz Au ) and 38.6 g/t Ag ( 9.57 million oz Ag ).
The receipt of assays from a laboratory in Canada has been extremely slow with a current backlog of over 30% of the samples from drilling completed to date, but sufficient data will have been received to allow the Resources to be revised in May – June 2022.
Final Resources for the proposed open-pit mine should be available around August 2022.
Elements of the Definitive Feasibility Study (“DFS”) for the La Demajagua open-pit mine include a detailed design of mine infrastructure, environmental approvals, geotechnical and hydrogeology reports, and metallurgical test work for the design of a 1.0 million tpa flotation circuit, and establishment of recoveries and concentrate grades, are progressing to schedule, as are negotiations for the sale of concentrate. The DFS is expected to be completed in November 2022.