Antilles Gold Limited provides update on La Demajagua mine

Antilles Gold Limited (ASX:AAU) has announced the advancement of the antimony production target for the La Demajagua gold-silver-antimony mine in Cuba. The company has revised its production targets based on additional metallurgical test work data received from BGRIMM Technology Group and plans to deliver a Scoping Study for an expanded operation.

Antilles Chairman, Brian Johnson, highlights strategic importance of antimony in project development

Antilles Chairman, Brian Johnson, emphasized the strategic importance of antimony in the project's development, stating, '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.'

Antilles Gold's outlook and future plans for La Demajagua project

Antilles Gold Limited has revised its production targets for the La Demajagua mine based on additional metallurgical test work data. The company plans to deliver a Scoping Study for an expanded operation, incorporating the processing facility and the production of a gold doré and an antimony-rich concentrate. 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. Antilles Gold is comfortable operating under the applicable law on Foreign Investment in Cuba and has been granted a generous fiscal regime by the Government which is supportive of its objectives. The company intends to invest part of the expected surplus cash flow from the Nueva Sabana mine to fund exploration of major copper targets, including the El Pilar copper-gold porphyry system, and two highly prospective properties within the Sierra Maestra copper belt in south east Cuba.