Antilles Gold's Nueva Sabana Gold-Copper Deposit

Antilles Gold Limited (ASX: $AAU) has received the Initial Mineral Resource Estimate (MRE) for the Nueva Sabana gold-copper deposit in Cuba. The MRE covers a depth of approximately 150m from the surface and includes three mineralized zones: a gold zone, a copper-gold zone, and a copper zone. The company is progressing with the Scoping Study for the proposed mine and anticipates the completion of the study by the end of the following month. The study is expected to demonstrate the project's robust viability, particularly in the first two years while primarily producing gold concentrates. Additionally, the company plans to undertake preliminary engineering for the concentrator and carry out site works to shorten the mine construction period to around 10 months from its planned commencement in July 2024. Furthermore, the company holds an Exploration Agreement in Cuba, which includes a Reconnaissance Permit surrounding the Nueva Sabana concession for future exploration of copper and gold.

Executive Commentary

The company's focus on the Nueva Sabana deposit aligns with our strategic goal of expanding our presence in the gold and copper mining sector. The Initial Mineral Resource Estimate signifies the potential for substantial reserves, and we are optimistic about the outcomes of the upcoming Scoping Study. Our collaboration with the Cuban Government's mining company, GeoMinera SA, further strengthens our position in the emerging mining sector in Cuba. We are committed to adhering to rigorous procedures to ensure the quality and representativeness of the data for the resource estimate, reflecting our dedication to responsible and sustainable mining practices.

Summary

Antilles Gold Limited (ASX: $AAU) has made significant progress with the Initial Mineral Resource Estimate for the Nueva Sabana gold-copper deposit in Cuba. The company is advancing with the Scoping Study, aiming to demonstrate the project's robust viability, particularly in the initial years of gold concentrate production. Antilles Gold also plans to accelerate the mine construction period and holds an Exploration Agreement for future exploration of copper and gold in the region. The joint venture with the Cuban Government's mining company positions the company at the forefront of the emerging mining sector in Cuba. The company's commitment to rigorous data verification processes underscores its dedication to responsible and sustainable mining practices. The outlook appears promising as the company anticipates substantial reserves and a strengthened presence in the Cuban mining sector.