{"id":10445,"date":"2024-10-02T01:49:53","date_gmt":"2024-10-02T01:49:53","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/10\/02\/40-increase-in-indicated-resource-in-gold-domain-and-60-in-copper-domain-for-nueva-sabana-deposit\/"},"modified":"2024-10-02T01:49:53","modified_gmt":"2024-10-02T01:49:53","slug":"40-increase-in-indicated-resource-in-gold-domain-and-60-in-copper-domain-for-nueva-sabana-deposit","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/10\/02\/40-increase-in-indicated-resource-in-gold-domain-and-60-in-copper-domain-for-nueva-sabana-deposit\/","title":{"rendered":"40% Increase in Indicated Resource in Gold Domain and 60% in Copper Domain for Nueva Sabana Deposit"},"content":{"rendered":"

Antilles Gold Limited<\/strong> (\u201cAntilles Gold\u201d or the \u201cCompany\u201d) (ASX: AAU, OTCQB: ANTMF) is pleased to report a revised Mineral Resource Estimate (\u2018MRE\u2019) for the first stage of the proposed Nueva Sabana copper-gold mine in central Cuba. The updated MRE follows completion of a 2,000m in-fill drilling program. <\/p>\n

Refer attached Revised MRE by Mining Associates Pty Ltd and JORC Edition 2012 Table 1 <\/p>\n

The majority of the Inferred Resources in the MRE reported on 6 March 2024 have now been elevated to Indicated Resources.Importantly, the outcropping gold cap that will be mined at the commencement of operations now contains Indicated Resources of 654,000t of oxide material at 2.81g\/t Au (59,000 oz Au) \u2013 an increase of approximately 40%.The MRE is based on relatively shallow drilling to 150m below surface \u2013 15,000m undertaken by our 50:50 joint venture mining company, Minera La Victoria, which is developing the Nueva Sabana mine, and 20,000m of historic drilling by Canadian companies.The first stage of the Nueva Sabana mine is expected to produce a gold concentrate from the upper gold domain for 15 months and be followed by a copper concentrate with gold credits for around 3 years. With additional exploration, which is likely to be funded from future cash flows, the mine life is expected to increase substantially, and the copper oxide deposit could transition into the underlying El Pilar porphyry copper deposit. This deposit has been the subject of geophysical and induced polarisation surveys and ~3,500m of shallow drilling.A revised optimised pit to 100m depth, mining schedule and JORC Reserve calculations are currently being prepared by Mining Associates Pty Ltd after which the financial model for the first four years of the project will be updated, and negotiations on a concentrate off-take agreement and project financing finalised.Some of the proceeds from the $1.6 million share issue on 18 September 2024 are being applied to detailed engineering for the concentrator, and to construction of a ~1.6km access road from the Cuban central highway to the mine site which will allow the project to be development-ready in December 2024.<\/p>\n

<\/div>\n

Comment<\/strong><\/p>\n

Antilles Chairman Brian Johnson commented<\/strong>: \u201cNueva Sabana\u2019s MRE for the first stage of the proposed mine has increased in confidence and size and the outcropping high grade gold cap will underpin a low-cost, fast start-up operation. The updated MRE will help to further advance financing negotiations which to date have progressed favourably. Nueva Sabana holds considerable unlocked value with the current MRE based on shallow drilling to only 150 metres. As such, we anticipate a much longer life operation to what has been modelled. Beyond this, the La Demajagua mine is generating increased interest based on the strengthening antimony price and we are intent on capitalising on the project\u2019s growing appeal. I look forward to keeping shareholders updated on progress.\u201d<\/em><\/p>\n<\/p>\n

Click here for the full ASX Release<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Antilles Gold Limited (\u201cAntilles Gold\u201d or the \u201cCompany\u201d) (ASX: AAU, OTCQB: ANTMF) is pleased to report a revised Mineral Resource Estimate (\u2018MRE\u2019) for the first stage of the proposed Nueva Sabana copper-gold mine in central Cuba. The updated MRE follows completion of a 2,000m in-fill drilling program. Refer attached Revised MRE by Mining Associates Pty […]<\/p>\n","protected":false},"author":0,"featured_media":10446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-10445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/10445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=10445"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/10445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/10446"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=10445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=10445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=10445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}