Antilles Gold Limited (ASX:AAU)

Retraction of Forecast Financial Information Plus Announcement on New Metallurgical Testwork Results

Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX Code: AAU, OTCQB: ANTMF) advises that an announcement lodged with ASX at 9:18am AEDT on 8 October 2024 included statements relating to antimony production targets that are non- compliant under listing rules 5.16, 5.17, and 5.19, and included forecast financial information derived from a production target.


By this announcement the Company hereby retracts the first two pages of the earlier announcement and the included non-compliant statements and forecasts, and advises investors not to make any investment decision based on this information.

The Company is also announcing new test work results for the proposed La Demajagua gold-silver-antimony open-pit mine in Cuba.

NEW METALLURGICAL TESTWORK RESULTS FOR LA DEMAJAGUA PROJECT

  • The attached Memorandum dated 2 October 2024 from Vancouver based consultants, JJ Metallurgical Services Inc, summarises past testwork results, and those recently received from Chinese engineering group, BGRIMM Technologies.
  • Importantly, BGRIMM has indicated that leaching of the gold-arsenopyrite concentrate expected to be produced by the proposed La Demajagua gold-silver- antimony mine would recover 77.9% antimony from the concentrate and produce an antimony precipitate which contains 48% antimony content. Based on the test work data, it is expected that the production of 3,982tpa of a precipitate with 48% Sb (containing 1,911tpa antimony) will be realized from the 50,025 tpa gold-arsenopyrite concentrate containing 4.9% antimony.
  • It is intended that the antimony precipitate will be blended with 5,558tpa of gold- silver-antimony concentrate grading 49.1g/t Au, 2,022g/t Ag, and 46.2% Sb (containing 2,568tpa antimony) that the consultant expects to be produced by reverse flotation of the La Demajagua ore at a mill throughput of 815,000 tpa containing 2.47 g/t gold, 26.2 g/t silver, 1.58% sulphur and 0.635% antimony. (Refer Scoping Study dated 30 March 2023 – all material assumptions underpinning this production target continue to apply and have not materially changed, in accordance with Listing Rule 5.19.)
  • Testwork is continuing with specialists in Canada on the methodology of stabilising arsenic which would be generated if a concentrate roasting processing facility is added to the project, as is proposed, to produce a gold dore which would be much more valuable than the arsenic gold concentrate.
  • When this information has been received, together with BGRIMM’s capital and operating cost estimates for the processing facility, a new Scoping Study will be undertaken for the expanded project, 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, and we look forward to delivering the Scoping Study for an expanded operation at La Demajagua. 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)
Antilles Gold Limited

Antilles Gold Limited

Developing Gold and Copper Projects in mineral‐rich Cuba

Developing Gold and Copper Projects in mineral‐rich Cuba Keep Reading...
Antilles Gold to Raise $1.0M for Working Capital

Antilles Gold to Raise $1.0M for Working Capital

Antilles Gold Limited (AAU:AU) has announced Antilles Gold to Raise $1.0M for Working CapitalDownload the PDF here. Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

Antilles Gold Limited (AAU:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Summary of Pre-Feasibility Study for Nueva Sabana Mine

Summary of Pre-Feasibility Study for Nueva Sabana Mine

Antilles Gold Limited (AAU:AU) has announced Summary of Pre-Feasibility Study for Nueva Sabana MineDownload the PDF here. Keep Reading...
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, CubaDownload the PDF here. Keep Reading...
5m @ 13.1g/t Gold Intersected within 20m Mineralised Zone in First Drill Hole to Test New Target at Titan East

5m @ 13.1g/t Gold Intersected within 20m Mineralised Zone in First Drill Hole to Test New Target at Titan East

Artemis Resources (ASX: ARV) (Artemis or the Company) is pleased to report a high-grade gold intersection in the first RC hole testing an interpreted NE trending shear zone at the Titan East Prospect, 1.5km west of the Carlow gold-copper resource1. HighlightsFirst Reverse Circulation (RC) drill... Keep Reading...
Patrick Tuohy, gold bars and silver chart.

Patrick Tuohy: Gold's Status Has Changed, Higher Price is Inevitable

Patrick Tuohy, global head of sales and marketing Goldstrom, shares his outlook for gold, saying its position as a store of value has been reestablished.In his view, the yellow metal has found a new price floor at US$3,000 per ounce. Don’t forget to follow us @INN_Resource for real-time... Keep Reading...
Total Metals (TSXV:TT)

TSX-V: TT Closes Acquisition of High Lake and West Hawk Lake from McFarlane Lake Mining and Closing of Final Tranche of Non-Brokered Private Placement

Total Metals Corp. (“Total Metals” or the “Company”) (TSX-V: TT) (FSE: O4N) is pleased to announce the closing of its acquisition of the High Lake and West Hawk Lake (the “Projects”) from McFarlane Lake Mining Corporation (“MLM”), as previously announced on September 24, 2025 (the... Keep Reading...
Map with a red pin marking Ghana, near Côte d'Ivoire and Benin.

Newmont Declares Commercial Production at Ahafo North Gold Mine

Newmont (NYSE:NEM,ASX:NEM) announced that its Ahafo North project in Afrisipakrom, Ghana, has officially entered commercial production, following the site's first gold pour last month. Located about 50 kilometers from Newmont’s existing Ahafo South operation, the Ahafo North mine is expected to... Keep Reading...
Diamond Drilling Commenced at Paranaíta Gold Project

Diamond Drilling Commenced at Paranaíta Gold Project

Visually mineralised targets being drilled to build on existing resource

Jangada Mines Plc (AIM: JAN), a Brazil focused natural resource development company, is pleased to announce that its 15-hole 1,800m diamond drilling ("DD") programme has commenced at the 7,211-hectare Paranaíta Gold Project ("Paranaíta" or the "Project") located in Brazil's historically... Keep Reading...
Lahontan Gold (TSXV:LG)

Lahontan Recieves $4,316,948 From the Exercise of Warrants and Options

Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan") is pleased to announce the receipt of Cdn $4,316,948 from the exercise of warrants and stock options during the period July 4 through October 23, 2025. Following the exercise of the warrants, stock options, and the issuance... Keep Reading...

Latest Press Releases

Related News