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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, Geo Minera

Joint Venture Company
Minera La Victoria SA

PROJECTS

The 50:50 joint venture is planning the near term development of the small, low cap-ex Nueva Sabana gold-copper mine in central Cuba followed by the La Demajagua open pit mine on the Isle of Youth in south west Cuba to produce gold doré, and a gold-silver-antimony concentrate, and to explore four concessions hosting highly prospective copper prospects.

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

The 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 creditors and for dividends, which eliminates Country credit risk for stakeholders

The joint venture agreement with GeoMinera is being revised to allow participation by additional shareholders, and majority foreign ownership

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

Exploration of
Copper Prospects

Three concessions (San Nicholas, La Cristina, and Vega Grande) potentially hosting porphyry copper deposits are currently being transferred from an Exploration Agreement to the joint venture company, Minera La Victoria.

The El Pilar concession has already been transferred to the joint venture, and where a cluster of three porphyry copper deposits (El Pilar, Gaspar, and Camillo) have been identified, together with the overlying Nueva Sabana gold-copper oxide deposit.

Near-term exploration will be focused within Sierra Maestra copper belt in the El Pilar concession in central Cuba, and on copper mineralisation within the La Cristina concession 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 gold-copper 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. 

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 (Stage One)

The Nueva Sabana open pit mine is planned to be developed in the near term on the gold-copper oxide deposit overlaying the El Pilar porphyry copper deposit in central Cuba, to produce gold, and copper-gold concentrates for export.

 

La Demajagua Gold-Silver-Antimony Mine (Stage One)

The La Demajagua gold-silver-antimony deposit is planned to be developed initially as an open pit mine to produce gold doré, and a gold-silver-antimony concentrate, and is expected to be followed by underground operations.