DEVELOPING GOLD & COPPER PROJECTS IN CUBA

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Antilles Gold is Developing Gold and Copper Projects in Mineral Rich Cuba in a Joint Venture with the Government's Mining Company, GeoMinera.

Los Llanos
Exploration Agreement

The Agreement includes three highly prospective concessions, La Cristina, Vega Grande, and Buey Cabon, totalling 53,700 ha within the Sierra Maestra copper belt in south east Cuba along strike to the west from the El Cobre copper mine which has operated since 1540.

A prospecting program will be conducted within these properties in 2024 followed by a drilling campaign on La Cristina.

These copper concessions will ultimately be transferred to the existing joint venture with GeoMinera to undertake additional exploration, and potential mine developments.

Joint Venture Company
Minera La Victoria SA

Proposed near term development of the small, low cap-ex Nueva Sabana gold-copper mine in central Cuba to produce gold, and copper-gold concentrates followed by the La Demajagua open pit mine on the Isle of Youth in the south west to produce gold doré, and a gold-silver-antimony concentrate.

Drilling La Demajagua Gold-Silver Deposit

Why Antilles Gold is
Focused on Cuba

Cuba is mineral rich, and under-explored, with low operating costs and mineral royalties.

Government is encouraging foreign investment in the mining sector and has realistic mining and environmental regulations, with the partnership de-risking permitting.

Investment incentives include waiving of income tax, and import duties.

Foreign shareholder nominates senior management for projects and exploration.

Project loans and sales proceeds deposited in foreign Bank for disbursement directly to suppliers and creditors, and for dividends, which eliminates Country credit risk.

The 50:50 Joint Venture with GeoMinera is being renegotiated to  allow participation by additional investors and permit majority foreign ownership.

Confidence in jurisdiction reflected by Sherritt (Ni, Co), Trafigura (Pb, Zn, Cu), and Melbana Energy (Oil & Gas) being heavily invested in producing projects in Cuba that are being expanded.

Exploration of
Copper Prospects

Near-term exploration will be focused on a cluster of three copper-gold porphyry deposits within the El Pilar concession in central Cuba, and on copper mineralisation within the La Cristina concession within the Sierra Maestra copper belt in the south east

El Pilar

The El Pilar porphyry system could be a “company maker” if recent drilling results are replicated in future expanded campaigns.

The El Pilar concession  is held by joint venture company, Minera La Victoria, with the outcropping overlying oxide deposit to be developed as the Nueva Sabana mine.

The copper mineralisation in the Nueva Sabana mine transitions into sulphide ore in the off-set El Pilar porphyry deposit.

It is possible that the Nueva Sabana mine could be expanded in the future to mine the underlying porphyry system. 

Sierra Maestra

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.

Near Term
Mine Developments

Nueva Sabana Gold-Copper Mine

A small, low cap-ex open pit mine is planned to be developed on the El Pilar oxide deposit in central Cuba and be commissioned by mid 2025 to produce gold, and copper-gold concentrates.

Metallurgical test work has indicated an 83% recovery of the oxide gold in a concentrate, and 82% for copper.

La Demajagua Gold-Silver-Antimony Project

An open pit gold-silver-antimony mine at La Demajagua on the Isle of Youth in south-west Cuba is expected to be commissioned in mid 2027 with estimated annual production of approximately 75,000oz Au equivalent in a doré, and a concentrate containing gold, silver, and antimony.