Australian gold producer Antilles Gold Limited is looking to accelerate the current 25,000 m diamond drilling program for the La Demajagua gold /silver mine development in Cuba.
Antilles Gold is developing the La Demajagua gold mine through a registered Joint Venture Company, Minera La Victoria SA, in which it holds 49% of the shares and the Cuban Government’s mining company, GeoMinera SA, holds 51%.
Antilles said a second drill rig is now on site, a third is anticipated for next month, with results from the Canadian laboratory undertaking assays to commence in approximately six weeks and continue through to August 2021.
“The results will complement existing data from 50,000 m of drilling previously undertaken by Canadian mining companies, and permit initial JORC Resources to be established as well as completion of associated metallurgical test work, and the open pit mine plan,” the company said in a statement.
“These elements comprise integral components of the current Bankable Feasibility Study for the first stage mine development.
“The Study is expected to confirm the robust results of the Company’s Preliminary Economic Assessment for the planned six year open pit operation, and be completed in time for a development decision in Q4 2022.
According to the company’s statement, the planned second stage underground operations will be the subject of a separate study in around five years.