Antilles Gold

Antilles Gold Quarterly Report & Appendix 5B – 31 March 2024

Antilles Gold Limited (“Antilles Gold” or the “Company”) is participating in the development of two mines to produce gold, silver, antimony, and copper, and in the exploration of substantial porphyry copper prospects in Cuba, through a 50:50 joint venture with the Government’s mining company, GeoMinera.


The joint venture could potentially fund the copper exploration from surplus cash flow expected to be generated by the near term development of the proposed Nueva Sabana gold-copper mine.


JOINT VENTURE

Minera La Victoria SA (“MLV”) was registered as a foreign joint venture company in August 2020 to develop the largest known gold deposit in Cuba at La Demajagua on the Isle of Youth off the south west coast.

The joint venture has since committed to progressively establishing itself as a broadly based mining company to develop previously explored mineral deposits controlled by GeoMinera, and to date the Nueva Sabana project, and three exploration concessions hosting porphyry copper prospects have been added to its portfolio.

Features of the Joint Venture include:

  • A foreign Bank account will hold all proceeds from loans, or product sales, with the only funds remitted to Cuba being for local expenses, which will minimise Country credit risk.
  • Antilles Gold nominates all senior management.
  • Income tax rate of 15% waived for 8 years.
  • No import duties on plant & equipment.
  • Low entry cost for near term development of previously explored properties.
  • Low operating costs.
  • Association with GeoMinera ensures rapid permitting.

ACTIVITIES DURING MARCH QUARTER 2024

MINERA LA VICTORIA SA

Corporate

  • Negotiation of revisions to Joint Venture Agreement.

PROPOSED NUEVA SABANA GOLD-COPPER MINE

Pre-development Activities

  • Initial MRE established.
  • Pit optimisation and mining schedule completed from initial MRE
  • Metallurgical test work for gold and copper gold concentrates and process design criteriacompleted for Scoping Study. Additional optimisation metallurgical testwork commenced.
  • Scoping Study progressed.
  • Environmental Permitting progressed.

PROPOSED LA DEMAJAGUA GOLD-ANTIMONY-SILVER MINE

Pre-development Activities

  • Metallurgical test work for design of roaster and CIL circuit by BGRIMM Technology Groupprogressed.
  • Metallurgical testwork for neutralisation of arsenic at Kemetco Research in British Columbia commenced and progressed.
  • Revised Scoping Study progressed.

EL PILAR COPPER PORPHYRY SYSTEM

Exploration

  • Summary of Exploration results to date completed and advised to ASX on 14th February 2024
  • Summary of Prospecting results to date completed and advised to ASX on 3rd March 2024

Click here for the full ASX Release

This article includes content from Antilles Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AAU:AU
Antilles Gold Limited

Antilles Gold Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Antilles Gold Limited

Antilles Gold Limited


Keep reading...Show less
Ordell Minerals Limited

Shallow, High-Grade Gold Mineralisation Intersected at Barimaia Gold Project

Results from Phase 2 drilling confirm McNabs East as a high-priority target for follow-up exploration, with diamond drilling to commence in November

Ordell Minerals Limited (ASX Code: “ORD”) (“Ordell” or “the Company”) is pleased to announce significant drill results from recent, shallow, wide-spaced Reverse Circulation (RC) drilling at its Barimaia Gold Project (“Barimaia”), located near Mount Magnet in the Murchison region of Western Australia.

Keep reading...Show less
Patronus Resources

Key Mining Approval Received for Fountain Head Gold Project, NT

Patronus Resources Limited (ASX: PTN; “Patronus” or “the Company”) is pleased to advise that the Northern Territory Government has approved the amended Mining Management Plan (MMP) for its 100%-owned Fountain Head Gold Project, located in the Pine Creek region 170km by road from Darwin in the Northern Territory.

Keep reading...Show less
Gold bars.

Top 5 Canadian Mining Stocks This Week: Sabre Gold Surges on Minera Alamos Acquisition

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX and TSXV, starting with a round-up of Canadian and US data impacting the resource sector.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.87 percent on the week to close at 603.95 on Friday (November 1). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was down 0.82 percent to 24,255.16.

Statistics Canada released its August GDP figures on Thursday (October 31). The data indicated GDP remained flat following a 0.1 percent increase in July. Headline data suggests finance, insurance and public administration sectors were up 0.1 percent while goods-producing sectors fell by 0.4 percent to their lowest since December 2021.

Keep reading...Show less
Congress building, gold bars.

Top Stories This Week: Gold Futures Break US$2,800, 3 Experts Talk US Election Price Impact

The gold price was on the move once again this week, with December COMEX futures briefly passing US$2,800 per ounce on Wednesday (October 30), another new record for the yellow metal.

Gold had pulled back substantially by Friday (November 1), sitting at the US$2,735 level as of 12:00 p.m. PDT. The decline came despite a weak October US jobs report, which has boosted expectations for an interest rate cut next week.

With many undeniably influencing gold right now, arguably the most immediate is the US election.

Keep reading...Show less
Antilles Gold Limited

Antilles Gold Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×