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Antilles eyes further prospective Cuban ground

ASX-listed Antilles Gold is targeting further prospective ground to be added into its Los Llanos exploration agreement with its Cuban partner, the State-owned GeoMinera SA. The explorer believes it could have identified three large and potentially “company making” porphyry copper-gold deposits near Ciego de Avila in central Cuba that could potentially support a large-scale open pit mining operation.

Porphyry deposits, typified by low grades and extremely high tonnage produce more than 70 per cent of global copper and about 20 per cent of the world’s gold. Interestingly, it is common knowledge among explorers that there is a key relationship between porphyry copper deposits and a distinct pattern of altered rocks.

Following the identification of the alteration pattern and geological markers by the company’s Exploration Director, Dr Chris Grainger, Antilles is eager to see the proposed prospective Ciego de Avila project become the second operation coming out of the pipeline behind the development of the La Demajagua mine.

The company has submitted to its joint venture partner GeoMinera SA a proposed work program and budget through to the end of 2023. If the exploration uncovers the system Antilles believes is there, then the tenement will be transferred to the existing JV company Minera La Victoria SA for further exploration and potential development.

The junior is eager to progress with exploration on the targets and believes minimal exploration will be required before it can wheel out the rig. It says the targets should be drill-ready in a few months after re-interpreting existing data, performing some detailed geological mapping and geophysical surveys.

Interestingly the porphyry prospects were discovered in the 1990’s, however, the potential of a large system was not recognised at the time. Shallow drilling has confirmed copper-gold mineralisation near the surface, however, the ground deeper below remains untested.

The company also draws geological similarities between surface mineralisation at the Ciego de Avila project and the Grasberg copper-gold mine in Indonesia. The immense Grasberg mine was previously the largest gold mine and third-largest copper mine in the world, according to Antilles.

Antilles has set a cracking pace with its La Demajagua mine that has been progressing at what appears to be break-neck speed. It’s early days yet at its next Cuban project however with plenty of buzz in the air all eyes will be on further results to see if the sausage matches the sizzle.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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