Advanced gold projects in the Caribbean.

Antilles Gold is focused on near-term gold projects in the Greater

Antilles Islands of Cuba and the Dominican Republic.

Experience in Refractory Gold and Silver

World reserves of refractory ore containing precious metals are increasing. The patented Albion oxidation process has proven to be a technically and commercially attractive solution for oxidising this ore prior to extracting gold and silver using standard cyanide-in-leach (“CIL”) technology.

Antilles Gold is focused on the near-term development of an advanced gold/silver project at La Demajagua on the Isle of Youth in Cuba. The project applies the experience and IP gained from twelve years developing and operating the world’s first application of Albion/CIL processing for recovering precious metals from refractory ore – at the Company’s Las Lagunas tailings retreatment project in the Dominican Republic.

The Project in Cuba

The La Demajagua mineral deposit incorporates the dormant Delita Mine. It has been assessed by Western Australian mining consultants Cube Consulting to have a conceptual and approximate Exploration Target in the range between:

Tonnes Grade (Au g/t) oz Au Grade (Ag g/t) oz Ag
Lower 17,000,000 2.2 1,183,000 17 8,745,000
Upper 21,000,000 2.5 1,736,000 25 14,789,000
LOWER
Tonnes 17,000,000
Grade (Au g/t) 2.2
oz Au 1,183,000
Grade (Ag g/t) 17
oz Ag 8,745,000
UPPER
Tonnes 21,000,000
Grade (Au g/t) 2.5
oz Au 1,736,000
Grade (Ag g/t) 25
oz Ag 14,789,000

To establish resources for the planned Stage One open pit mine, Cube Consulting have designed a 25,000m drilling program to add to existing data from 50,000m of historic drilling. (Link: See ASX Announcement 30 October, 2020)

A Preliminary Feasibility Study for the planned Stage One open pit mine, including the drilling program, is expected to be completed by September 2021.

Stage One is planned as an 800,000tpa open pit operation to produce approximately 60,000tpa of high grade concentrate for 6 years that could be sold to a smelter in China or Russia, or alternatively processed through an Albion/CIL plant to produce precious metals in the form of doré.

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The Proposed Albion/CIL Plant

Antilles Gold, in association with an Australian engineering group, intends to design and construct a 100,000 tpa Albion/CIL process plant. It will be located at La Demajagua, or possibly Las Lagunas in the Dominican Republic, depending on the outcome of feasibility studies, ongoing US sanctions against Cuba, and the availability of project finance for each location.

The second-generation design will incorporate modifications that were found to be necessary at the Group’s first Albion/CIL project at Las Lagunas. These modifications were incorporated in the plant later installed at Ararat in Armenia by the Albion patent holder Glencore Technology, which recovers 95% of gold from a clean arsenopyrite concentrate similar to that which will be produced at La Demajagua.

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The Albion Oxidation Process

The patented Albion Oxidation Process is a technology that permits the extraction of precious metals from challenging refractory ore by conventional techniques.

Feed to the Albion Process is a sulphide concentrate containing precious metals. The Albion Process utilises both ultrafine grinding and oxidative leaching at atmospheric pressure to oxidise the concentrate and allow metal extraction with cyanide-in-leach technology.

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