Antilles Gold has returned more encouraging results for proposed open pit mining operations on the gold-copper oxide deposit at its El Pilar Project in Central Cuba.
Assays came in for the first seven of 17-holes from its ongoing campaign, showing more gold-copper returns from a 7000-metre program directed at validating historic results and establishing a Mineral Resource Estimate for the proposed Nueva Sabana mine.
A relatively small open pit operation at low capital expenditure could provide early cash flow to El Pilar, mining from well-defined gold zones and copper areas which continue to increase both laterally and vertically.
“Based on drilling and metallurgical test work results to date, it appears probable that a low cap-ex mine could be developed on the El Pilar oxide deposit to exploit the gold and copper domains to a depth of around 80m to 100m in advance of any development of the underlying copper-gold porphyry system. An initial drilling program on the porphyry intrusive has commenced,” Antilles Executive Chairman Brian Johnson said.
While testing on recoveries from the underlying copper domain is continuing, work on ore from the upper gold domain has indicated a recovery of 85 per cent from a simple rougher flotation circuit, producing at a grade of 53.1g/t with a head grade of 2.11g/t.
But the near-term project of Antilles’ joint venture company with state-owned GeoMinera is the proposed development of the La Demajagua open pit mine on the Isle of Youth in the nation’s southwest, where metallurgy and geochemical modelling has spurred plans for production of concentrates including gold, silver, and antimony.
Long-term plans
The joint venture expects profits from La Demajagua, seeing an open pit mine funding future mining operations and extensive exploration over major targets, with Antilles positioned at the forefront of an emerging Cuban mining sector as the island nation opens its industry to foreign investment.