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:
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 Stage One, including the drilling program, is expected to be completed by September 2021.
Cuban-registered Minera La Victoria SA (MLV) – 49% owned by Antilles Gold – is currently carrying out feasibility studies for developing an 800,000tpa open pit mine at La Demajagua. The mine is projected to produce approximately 60,000tpa of refractory concentrate.
The planned 6-year mine life is expected to be followed by a 10-year underground operation at a reduced production rate.
The Cuban Government’s mining company, GeoMinera SA, holds 51% of MLV.
As part of its due diligence process before entering into the La Demajagua Joint Venture, Antilles Gold had access to data from 50,000m of historical drilling undertaken primarily by reputable Canadian mining companies. Cube Consulting used the data to establish non-JORC compliant resources within a basic mine plan for Stage One.