PROGRESS ON CONSTRUCTION OF NUEVA SABANA MINE CUBA
June 9, 2026
Minera La Victoria SA (‘MLV’), has assembled a portfolio of exploration concessions highly prospective for porphyry copper deposits, and two near-term mine developments to produce copper, gold, and antimony concentrates
Mining Projects
Exploration
Founding Capital
US$30M
Shareholders
Gold Caribbean Mining SA
(subsidiary of Cuban Government’s mining company GeoMinera)
US$15M
(issued for transfer of mining concessions)
Antilles Gold Inc
(subsidiary of Antilles Gold Limited)
US$15M
(cash contributed)
Exploration will be re-commenced in 2027 on a cluster of three copper-gold porphyry deposits within the El Pilar concession in central Cuba (El Pilar, Gaspar, and Camilo), and the La Cristina concession within the Siera Maestra copper belt in the south east
The El Pilar porphyry system could be a “company maker” if drilling results in 2024 are replicated in future expanded campaigns.
The El Pilar deposit underlies the outcropping oxide deposit which is currently being developed as the Nueva Sabana copper-gold mine.
The copper mineralisation in the Nueva Sabana mine transitions into sulphide ore, and potentially into the El Pilar porphyry deposit off-set to the south.
It is possible that the Nueva Sabana mine could be expanded in the future to mine the underlying porphyry system.
The La Cristina concession is located within the Sierra Maestra copper belt along strike to the west from the El Cobre copper mine which has operated since 1540.
The area incorporates numerous zones of large surficial exposures of porphyry style hydrothermal alteration in a volcano-sedimentary sequence that is intruded by dioritic stocks. The hydrothermal alteration evident at La Cristina is interpreted to be the upper parts of a cluster of exposed porphyry copper-gold-molybdenum systems that remain unexplored by modern techniques.
The small, low cap-ex open pit mine is under construction and expected to be commissioned in January 2027 to produce gold, and copper gold concentrates.
An open pit gold-silver-antimony mine at La Demajagua on the Isle of Youth in south-west Cuba is planned to be commissioned in early 2029 with estimated annual production of approximately 70,000oz Au equivalent in a gold-arsenopyrite concentrate, and ~3,000tpa of antimony cathodes.
Based on the recent PFS for the Nueva Sabana Mine, and the March 2023 Scoping Study for the La Demajagua Mine adjusted for current metal prices, the two mines could collectively generate a total of over A$2,500M (50% Antilles Gold) of cash surplus between early 2027 and end 2037.
Potential expansion of Nueva Sabana mine to exploit copper at depth including the underlying El Pilar porphyry copper deposit.
Underground operations could extend La Demajagua project beyond 2037.
Prospect for longer term development of other porphyry copper prospects.