Antilles Gold Limited (ASX:AAU)

Antimony Production Target of ~4,500tpa for La Demajagua Mine

Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX: AAU, OTCQB: ANTMF) advises that subsequent to the ASX announcement on 13 September 2024 which reported potential antimony production from the proposed La Demajagua gold-silver- antimony mine in Cuba, additional metallurgical test work data has been received from Chinese engineers, BGRIMM Technology Group (http://english.bgrimm.com/). 


The Technical Consultant for the project, Vancouver based JJ Metallurgical Services Inc, has revised production targets for the two concentrate products expected to be produced by the La Demajagua mine. (refer attached Memorandum and JORC Edition 2012 Table 1)

  • The production targets have been based on the Pitshell 49 resource modelling incorporated in the initial Scoping Study for the project reported to ASX on 30 March 2023, and the antimony content derived from the metallurgical samples.
  • Based on a mill throughput of 815,000 tonnes per annum (‘tpa’), and reverse flotation of the bulk flotation concentrate at a mass pull of 10%, it is expected that ~50,000tpa of a gold-arsenopyrite concentrate will be produced with a grade of ~31.9g/t Au and ~4.9% Sb (antimony), together with ~5,560tpa of a gold-silver-antimony concentrate grading ~49.1g/t Au, ~2,000g/t Ag, and ~46.2%Sb.
  • The gold-arsenopyrite concentrate will be subjected to alkaline leaching to selectively dissolve antimony. After solid/liquid separation, the dissolved antimony will be precipitated to produce ~3,980tpa of an antimony precipitate with an estimated ~48% Sb content.
  • The antimony precipitate will be blended with the gold-silver-antimony concentrate to produce a final concentrate product of ~9,540tpa grading ~29.9g/t Au (~9,170oz Au per year), ~1,200g/t Ag (~368,000oz Ag per year), and ~47% Sb (~4,480t Sb per year).
  • The gold-arsenopyrite concentrate produced after alkaline leach is expected to be ~45,670 tpa grading ~34.6g/t Au (~50,800oz Au per year).
  • The 50% owned joint venture which is developing the project plans to oxidise the refractory gold-arsenopyrite concentrate followed by cyanide leaching to produce a higher value gold doré.
  • BGRIMM has recently completed 9 months of metallurgical test work on the La Demajagua concentrate which demonstrated the technical viability of constructing a two-stage fluidised-bed roaster and cyanide leach circuit, and established a ~92% gold recovery from the gold-arsenopyrite concentrate.
  • The methodology and cost of stabilising arsenic which is generated during roasting, also needs to be established through test work currently being undertaken by specialists in Canada.
  • Based on the production targets advised by consultants, and at current prices for gold (US$2,600/oz), silver (US$30/oz), and antimony (US$25,000/t), and payables for contained metal in the gold-silver-antimony concentrate offered by potential buyers (55%, 65%, and 57% respectively), revenue for this concentrate could be in the order of US$84 million per year for the 9 year mine life for the first stage, open pit operation.
  • The potential sales value of contained antimony in the gold-silver-antimony concentrate could now be over US$40 million per year more than assessed in March 2023, demonstrating its growing importance to the La Demajagua project.
  • The income for this antimony-rich concentrate will be in addition to that received for ~47,000oz Au per year forecast to be contained in the gold doré.
  • A new Scoping Study for the expanded project incorporating the processing facility and the production of a gold doré and an antimony-rich concentrate will be completed after the estimated construction and operating costs have been received from BGRIMM, and is expected to demonstrate robust returns at conservative metal prices.

COMMENT:

Antilles Chairman, Brian Johnson said: “with improved supply-demand dynamics for antimony and a strengthening price environment, we are now rapidly advancing project development studies with the assistance of BGRIMM Technology Group and our Technical Consultants. The initial production targets defined for La Demajagua is a good starting point and we look forward to delivering the Scoping Study for an expanded operation. We are also engaging with a wider cohort of potential antimony buyers given the stronger demand and price environment for the strategic metal.”


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
The Conversation (0)
Revision to Updated Scoping Study Nueva Sabana Mine, Cuba

Revision to Updated Scoping Study Nueva Sabana Mine, Cuba

Antilles Gold Limited (AAU:AU) has announced Revision to Updated Scoping Study Nueva Sabana Mine, Cuba

Download the PDF here.

Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×