Antilles Gold Limited

ASX CODE AAU

Focused on growth through near-term gold projects in mineral rich Cuba

and realising assets held in the Dominican Republic

 

– Greater Antilles Islands of the Caribbean –

Refractory Gold and Silver Projects

World reserves of refractory ore containing precious metals are increasing but are often overlooked by the mining industry as the ore requires oxidation prior to extraction of gold and silver utilising standard carbon-in-leach (“CIL”) technology.

Mineral rich Cuba hosts predominately refractory deposits of gold and silver, and Antilles Gold is involved in two projects which should contribute to the Company’s future growth.

Antilles Gold’s first project in Cuba involves participation in the near term development of an open pit mine based on the La Demajagua gold / silver deposit on the Isle of Youth in south west Cuba.

The second project will be the evaluation and possible investment in the development of a mine to exploit a large sulphide deposit underlying three depleted oxide gold deposits at Golden Hills, 80km south east of the city of Camaguey.

The aim is for these mines to produce a refractory gold concentrate which could be sold initially to smelters in China or Russia that have the technologies and are permitted to treat this type of concentrate.

Alternatively, a CIL plant together with an associated Albion oxidation circuit could be constructed in Cuba to process the concentrate produced and that sourced from other regional mines, to produce gold and silver in the form of higher value doré bars.

If an Albion / CIL plant is constructed, the Company will utilise experience and IP gained from a twelve year involvement in the development and operation of the world’s first application of Albion technology for recovering precious metals, at Las Lagunas in the Dominican Republic.

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Company Background

Antilles Gold Limited was listed on the Australian Securities Exchange (“ASX”) in 2006 under its previous name of PanTerra Gold Limited, to raise capital for its subsidiary, EnviroGold (Las Lagunas) Limited, to develop the Las Lagunas gold tailings retreatment project in the Dominican Republic.

The Las Lagunas project involved the recovery of gold from approximately 5.0 million tonnes of stored refractory tailings from the Pueblo Viejo mine, by dredging, production of a float concentrate, ultrafine grinding, oxidation, and production of dore through CIL and elution circuits.

The installed capacity of the Las Lagunas Albion/CIL plant which operated from July 2012 to December 2019, was 200,000 tpa.

Due to unexpected contaminants in the stored tailings and design issues with the world’s first Albion circuit for recovery of precious metals, gold recoveries from concentrate were restricted to 60% rather than the +90% that would otherwise have occurred with a ‘clean’ concentrate from a mine, and an improved plant design.

 

However, the Directors of Antilles Gold, and the holder of Albion patents, Glencore Technology, are confident a second generation plant design will achieve +95% gold recoveries from concentrates as is achieved at GeoPro Mining’s, Albion/CIL plant at Ararat in Armenia.

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ANTILLES GOLD LIMITED
ASX CODE AAU
55 Kirkham Road
Bowral NSW 2576
Australia
+ 61 2 4861 1740
ANTILLES GOLD LIMITED
ASX CODE AAU
55 Kirkham Road
Bowral NSW 2576
Australia
+ 61 2 4861 1740