ANTILLES GOLD ACCELERATES DRILLING PROGRAM IN CUBA

Antilles Gold Limited ( ASX Code : AAU ) advises that it intends to accelerate the current 25,000 m diamond drilling program for the La Demajagua gold /silver mine development in Cuba.

A second drill rig is now on site with a third anticipated next month. Results from the Canadian laboratory undertaking assays should commence in approximately six weeks and continue through to August 2021.

The results will compliment existing data from 50,000 m of drilling previously undertaken by Canadian mining companies, and permit initial JORC Resources to be established as well as completion of associated metallurgical test work, and the open pit mine plan.

These elements comprise integral components of the current Bankable Feasibility Study for the first stage mine development.

The Study is expected to confirm the robust results of the Company’s Preliminary Economic Assessment for the planned six year open pit operation, and be completed in time for a development decision in Q4 2022. The planned second stage underground operations will be the subject of a separate study in around five years.