SYDNEY, AUSTRALIA: Antilles Gold Limited has been listed on the Frankfurt Stock Exchange (FSE Code: PJT).
The listing will assist trading by a number of investors in Germany, Switzerland, and Austria who are showing interest in Antilles Gold’s activities and growth potential in Cuba.
Approximately 15% of the shares applied for in the current placement of 60 million shares came from investors in these countries.
About half of the shares in the placement will be issued to international investors. These investors are familiar with opportunities in the emerging mining sector in Cuba, and understand the Company’s progress and prospects for establishing a substantial mining company in the country in partnership with the Government’s mining company, GeoMinera SA.
Strong interest is being shown by all placees in the potential of the large El Pilar copper-gold porphyry deposit, and its high grade gold-copper oxide cap in central Cuba which is one of two significant mining Concessions held in Antilles Gold’s Exploration Agreement with GeoMinera.
A preliminary 2000m drilling program will commence at El Pilar later this month to determine if results from shallow (120m) historic drilling of the porphyry deposit will be replicated at depth.
Drilling will then continue on the 60m to 80m deep oxide cap with the aim of establishing in early Q2 2023, JORC Resources and a Scoping Study for a low cap-ex mine to produce gold, and copper concentrates. The Exploration Target Range for the gold and copper domains of the oxide deposit were reported to the ASX on 5 July 2022.
Ground magnetics and Induced Polarisation surveys will be carried out concurrently with the preliminary porphyry drilling program planned for completion by the end of this year, in order to optimize drill hole locations for the 12,000m program which will follow to a depth of 300m.