Antilles Gold Limited (ASX: $AAU) announcement

Antilles Gold Limited (ASX: $AAU) has released additional assays from the 8 latest diamond drill holes at El Pilar in central Cuba. The company is pleased to advise that drilling has been completed for the Nueva Sabana gold-copper mine being planned for near term development on the oxide deposit at El Pilar, with assays still outstanding from the final 14 drill holes. The Mineral Resource Estimate (MRE) for the Nueva Sabana mine is expected to be published at the end of next month, followed by a Scoping Study for the project aimed at producing gold and copper Unconcentrates for export.

Executive Commentary on Drilling Techniques and Assay Data

The recent drilling, which began in 2022, involved core cutting using a diamond saw, with half core selected for sample analysis. Samples submitted for preparation at LACEMI in Havana are dried at a temperature between 80 and 100 deg C for a minimum of 24hrs. The subsample is then crushed to 75% passing 2mm, with two 250g subsamples collected through a Jones riffle splitter. One 250g sample is sent to SGS Peru for Au, and 49 element 2 acid digest analysis. Quality control measures include the collection of duplicates from quartered 1/2 core at an average rate of 1 in every 20 samples, and pXRF results from drill core are averaged from spot readings taken at 20cm intervals per each meter of core.

Summary of Antilles Gold Limited's Announcement

Antilles Gold Limited (ASX: $AAU) has provided additional assays from the latest diamond drill holes at El Pilar in central Cuba, with the Nueva Sabana gold-copper mine being planned for near term development on the oxide deposit. The company expects the Mineral Resource Estimate (MRE) for the Nueva Sabana mine to be published at the end of next month, followed by a Scoping Study for the project aimed at producing gold and copper Unconcentrates for export. Antilles Gold's strategy is to participate in the successive development of previously explored gold, silver, and copper deposits in mineral-rich Cuba, and the company is at the forefront of the emerging mining sector in Cuba. The joint venture with the Cuban Government's mining company, GeoMinera SA, is expected to lead to the development of several projects, including the Nueva Sabana mine and the La Demajagua open pit mine on the Isle of Youth in south-west Cuba. The company is comfortable operating under the applicable law on Foreign Investment in Cuba and has been granted a generous fiscal regime by the Government. Antilles Gold aims to invest part of the expected surplus cash flow from early mine developments to fund exploration of major copper targets in Cuba.