Antilles Gold has welcomed early results from an induced polarisation geophysical survey being carried out on the El Pilar copper-gold porphyry system in Cuba which indicates the presence of a cluster of porphyry deposits, with one being near-surface with significant dimensions.
These intrusives have already demonstrated copper-gold mineralisation, with a recent drilling intercept (PHD 004A) grading at 134 metres at 1.23% copper from 49 metres and ending in mineralisation.
Antilles Gold’s Exploration Director Dr Christian Grainger said the results to date on the prospectivity of both the gold-copper oxide zone and the underlying copper-gold porphyry system were ‘very encouraging’.
In addition, the overlying gold-copper oxide cap appears to be much more extensive than previously drilled.
The Company will commence a follow-up drilling program to investigate the oxide zone and at least two of the underlying porphyry deposits within the El Pilar system in April this year.
Scoping Study for La Demajagua mine
Meanwhile, Antilles is expected to publish its revised Scoping Study for the La Demajagua mine in about two-three weeks’ time.
Executive Chairman Brian Johnson said the inclusion of high value antimony concentrate in the project was expected to result in substantially increased income for the open pit mine and for the following underground operations.
Antilles has been awaiting antimony assays from the 29,000m of drill cores which was undertaken in 2022 so they can be incorporated into the JORC Resources and mine planning for the project.
Mineral-rich Cuba has previously been explored by Canadian, Russian and Cuban mining companies but, in recent decades, development opportunities have been overlooked.
Cuba is a mining-friendly jurisdiction with attractive foreign investment laws and realistic mining and environmental regulations.
