Millbrook and GeoMinera S.A. (GMSA) have negotiated an exclusive International Economic Association (IEA) contract with Cuba for the Los Pasos concession located within a 317 km2 land position in a productive polymetallic (Cu-Zn-Au-Ag) mineral belt that was host to 3 past producing metals mines estimated to have produced over 400,000 tonnes of Cu-Zn-Au-Ag mineralization prior to 1959.
The principals of Millbrook have 40 years of direct experience in Cuba, its geology, mineral deposits, regulatory framework and political system, which includes the 1994 discovery of the currently producing Golden Hill high sulphidation type gold deposit located in central Cuba.
Millbrook has an experienced mining, technical and financial management team with proven mine finding experience in the Cuban resource sector, solid government relationships, an understanding of Cuban politics, the economy and legal framework and decades of experience navigating the Cuban decision-making process.
Millbrook has completed site visits and evaluated numerous mineral deposits throughout Cuba and has selected Los Pasos as its lead project. The Los Pasos project has been subject to extensive due diligence and technical work including compilation of a historical data, check sampling, resource modelling and completion of a NI 43-101 technical report.
The Los Pasos Formation hosts significant precious and base metal deposits and correlates with similar Lower Cretaceous volcanic arc rocks which host the Pueblo Viejo, Cerro de Maimón and other large gold and silver enriched VMS deposits in the Dominican Republic. The potential to increase the existing “in situ” resources and discover additional blind deposits with the Los Pasos Formation is excellent.
Millbrook’s current focus is the Los Pasos concession located in central Cuba. The concession encompasses the entire Los Pasos Formation, a highly productive volcanic massive sulphide polymetallic (Cu-Zn-Au-Ag) mineral belt. In addition to three past producing mines the area includes at least 16 exploration targets. Millbrook’s focus is to re-develop these assets in a two-phased exploration program to complete a Preliminary Economic Assessment. Long term, Millbrook envisages a central milling facility at Los Pasos processing feed from several deposits within the belt.
Through Millbrook’s IEA agreement with the Cuban government and its partnership with GeoMinera S.A., Millbrook has a proprietary opportunity to develop mining assets in Cuba as one of only three companies permitted to do so. The other two companies are Sherritt and Trafigura. Millbrook’s goal is to become the company of record for exploration and development of mineral assets in Cuba. Investors in Millbrook have an excellent opportunity to be part of a first mover status in an expanding economy.