Shareholders of Matlock Mining of Australia have approved the sale to Miramar Mining (VSE) of Matlock’s interests in two Cuban projects.
Miramar now holds a 50% interest in the Hierro-Mantua copper leach project and the Delita gold deposit, with the Cuban government holding the remaining half.
Hierro-Mantua, 150 miles west of Havana, is a high-grade deposit amenable to solvent extraction and electrowinning. It contains minable reserves of 3.9 million tons grading 3.3% copper.
The Delita deposit, south of the Cuban mainland on the Island of Youth, has minable reserves of about 9.4 million tons grading 0.135 oz. per ton gold equivalent. A portion is amenable to open-pit mining.
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