The Antonio copper-zinc mine is one of four within the New Horizons polymetallic mineral belt that were operated by a Soviet mining company until its withdrawal from Cuba around 1992, leaving remnant ore that has not been mined.
These properties could ultimately contribute feed to a centralised concentrator at Antonio which is planned to be re-opened by the joint venture company in late 2025 subject to a drilling program confirming an Indicated JORC Resource similar or better than its current near surface Inferred Resource for an open pit of 2.25Mt of ore containing 78Mlb of copper at a grade of 1.58% Cu, and 124Mlb of zinc at a grade of 2.51% Zn ( advised to ASX on 29 April 2022 )
The mineralisation at Antonio has been traced by cored drilling to 190m vertically and is open at depth.
This development would also require a low capital expenditure and generate strong cash flow at current metal prices.
An exploration program to upgrade Resources and a Scoping Study aimed at reopening the Antonio mine, and possibly others within the concession will be undertaken in 2024.