A gold mine in Cuba with “nice potential”, says an Australian firm

This month, Australian mining entity Antilles Gold pointed it out in one in every of its circles reportsthe “nice potential” for the exploitation of the Cuban gold mine “El Pilar”, within the central province of Ciego de Avila.

In keeping with this report, “The El Pilar copper and gold porphyry deposits in central Cuba have an oxide zone overlaying 80 to 100 meters with areas of gold and copper A high-quality mine that’s anticipated to be developed as a low-cost open-pit mine for the manufacturing of gold and copper concentrates.”

They added that the historic drilling operations, which amounted to 24,000 meters in 1990, indicated a significant exploration goal for the gold outcrop, “1.4 million tons of ore containing 221,000 ounces of gold.”

They specified that, on the idea of those mineral portions confirmed by exploration for stated mining firm, it was believed {that a} low-capital funding mine could possibly be developed, totally financed by a gold mortgage, to provide roughly 400,000 tons every year of ore.

Are there gold mines in Cuba?

Antilles Gold, a three way partnership between Australia’s PanTerra Gold and Cuba’s state-owned firm GeoMinera, which continues to advance the event of the El Pilar gold challenge, in Avilanian province, though it has earlier tasks in different elements of the nation. island.

In keeping with the mineral research which were accomplished, gold might be extracted by means of the flotation course of which achieves a restoration of 83%. Which means, at present costs for the metals, the challenge might generate constructive money flows over its estimated lifetime of seven years.

The “El Pilar” challenge has logistical and infrastructural benefits, as it’s positioned on flat land with out earlier use, close to a railway that connects with different cities. As well as, it has entry to energy traces, roads and native residents who can present expert labour, officers stated within the Golden Antilles.