30% Increase in Mineral Resources at La Demajagua Gold

Antilles Gold Limited (ASX: AAU) has announced a significant increase of approximately 30% in the Mineral Resource Estimate (MRE) for the La Demajagua gold, silver, and antimony mine in Cuba. The MRE, calculated from recent and historic drilling results, now stands at 905,000 ounces of gold equivalent. The estimate includes indicated resources of 591,000 ounces and inferred resources of 180,000 ounces. The MRE has been prepared according to the JORC Code Edition 2012 and meets the criteria for eventual economic extraction.

The company plans to incorporate the revised MRE into the Definitive Feasibility Study (DFS) for the initial stage of the La Demajagua project, with the DFS expected to be completed within three months. Metallurgical test work is ongoing to optimize recoveries and metal grades, and early indications suggest that revenue could exceed the previously forecasted US$100 million per year. The increased MRE also extends the project's Life of Mine from 9 to 11 years. Antilles Gold has committed to investing A$20 million for its 50% share in the joint venture company developing the mine, with project funding negotiations underway.

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