Overview
Stage | Permitting |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Mine Life | 6 years (as of Jan 1, 2022) |
The proposed La Demajagua open pit mine on the Isle of Youth in southwest Cuba is at an advanced pre- development stage.
Unfortunately, the DFS was delayed for nearly 6 months while waiting on the antimony assays, but it is now nearing completion, and is based on a mining rate of 815,000 tpa of ore producing two concentrate products for 9 years – a gold-arsenopyrite concentrate, and a gold-antimony-silver concentrate.
Applications for all necessary permitting for the mine, including the Environmental Licence, were substantially completed in Q2 2023.
The potential exists to extend the project through underground operations. |
Source:
p. 5
Antilles Gold Inc (“AGI”), a Cayman Islands registered subsidiary of Antilles Gold Limited, formalised a Joint Venture Agreement (“JVA”) in August 2020 with Gold Caribbean Mining SA (“GCM”), a subsidiary of the Cuban Government’s mining company, GeoMinera SA (“GMSA”), to incorporate Minera La Victoria SA (“MLV”).
AGI has a 49% shareholding in MLV, and effectively manages the joint venture.
Contractors
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Summary:
La Demajagua has the characteristics of a low sulphidation epithermal gold deposit. The geology of the deposit area is dominated by schistose units (quartz-graphite schists, quartz-sericite schists, and quartzites, rich in gold-bearing arsenopyrite, typically metamorphosed to greenschist facies.
The lithologies alternate between packages of graphite rich and relatively graphite poor, with package thickness of 20-200m, though increased graphite content occurs in almost all cases of fault brecciation, and so in turn mineralisation is almost always found with areas of elevated graphite content.
Alteration indicates low temperature formation and occurs as rare bleaching of rocks (only occurring in the vicinity of quartz veins over tens of cm in thickness), pervasive sericitisation,
graphitisation, and silicification either as a saturation of the entire rock mass with silica or by the formation of a network of quartz veinlets.
Vein quartz is grey, white-grey or clear and is finely crystalline. Evidence of several episodes of remobilisation can be found in the quartz, and finely disseminated sulphides occur in all areas of silicification and partly outside. Hydrothermal flow is assumed to have been aided by hydraulic pumping from fault movement, with the average sulphide content in the order of 4-6% and increasing up to 15% in enriched areas.
The gold is primarily held within arsenopyrite and associated with boulangerite. Ore text ........

Summary:
The proposed open pit mining is expected to be a straightforward operation with mining to a depth of approximately 150m, and though the stripping ratio is relatively high the project will benefit from reasonably soft waste material.
Overall Pit Slope Angle - 38 Deg.
Minimum block size in Model - 5x5x5 m.
The mining fleet will be supplied by Chinese manufacturers of high quality equipment, as will the concentrator.
Source:
Summary:

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Projected Production:
Commodity | Product | Units | Avg. Annual | LOM |
Gold
|
Concentrate
|
kt
| 70 | 382 |
Gold
|
Metal in concentrate
|
koz
| 85 | |
Silver
|
Metal in concentrate
|
oz
| ......  | |
Gold Equivalent
|
Metal in concentrate
|
oz
| ......  | |
Operational Metrics:
Metrics | |
Annual processing rate
| ......  |
Waste tonnes, LOM
| ......  |
Ore tonnes mined, LOM
| ......  |
Total tonnes mined, LOM
| ......  |
* According to 2022 study.
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Reserves at June 28, 2022:
Mineral Resource Statement for proposed La Demajagua open pit mine cut-off 0.8 g/t Au.
Category | Tonnage | Commodity | Grade | Contained Metal |
Indicated
|
6.48 Mt
|
Gold
|
3.11 g/t
|
648 koz
|
Indicated
|
6.48 Mt
|
Silver
|
32.2 g/t
|
6,703 koz
|
Inferred
|
3.8 Mt
|
Gold
|
2.1 g/t
|
260 koz
|
Inferred
|
3.8 Mt
|
Silver
|
24 g/t
|
3,000 koz
|
Total Resource
|
10.3 Mt
|
Gold
|
2.74 g/t
|
908 koz
|
Total Resource
|
10.3 Mt
|
Silver
|
29.3 g/t
|
9,707 koz
|
Mine Management:
Job Title | Name | Profile | Ref. Date |
.......................
|
.......................
|
|
Sep 16, 2022
|
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Corporate Filings & Presentations:
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