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Tietto Minerals shares surge after AG deposit drilling hits 20 metres at 14.80 g/t gold

Intensive drilling is ongoing as part of a 30,000-metre diamond drilling campaign for a resource upgrade which remains on track for release in Q4 CY19.

Tietto Minerals Ltd - Tietto Minerals shares surge after AG deposit drilling hits 20 metres at 14.80 g/t gold
Tietto’s shares are trading about 14% higher intra-day, at 25 cents.

Tietto Minerals Ltd (ASX:TIE) has confirmed further intersections of wide high-grade gold mineralisation from diamond drilling of the high-grade core of the Abujar-Gludehi (AG) deposit in Côte d’Ivoire.

The 1.06 million ounces high-grade core of the AG Deposit sits within Tietto’s 1.7 million ounces Abujar Gold Project in the West African country.

Exceptional new high-grade intercepts from the AG Deposit include:

  • ZDD084 (Line 24B): 20 metres at 14.80 g/t gold from 42 metres including 2 metres at 144.3 g/t gold; and
  • ZDD082 (Line 26): 82 metres at 3.14 g/t gold from 26 metres including 26 metres at 9.48 g/t gold.

Oblique long section view of the AG gold resource model (with exceptionally high-grade intersections reported after the April 2019 resource model in yellow highlight)

Tietto managing director Dr Caigen Wang said: “Once again, we are very pleased to report more wide, exceptionally high-grade intercepts at AG.  Our 3 diamond drills continue to hit wide high-grade intervals on section after section.

“Since May 2019, we have almost doubled the number of +50 gold gram-metres to 31 intervals reporting greater than 50 gold gram-metres. We now have at least 500 metres of ultra-high grade results (5 intervals >200 gold gram-metres) from surface between Lines 24 and 29 at AG, suggesting potential for a high-grade open pittable gold resource with robust project economics.”

“We now have three company-owned drill rigs double shifting at AG and we look forward to reporting another resource upgrade later in Q4 2019.”

Plan view showing location of deposits and resources at the Abujar Gold Project

The latest wide and high-grade gold intercepts reported on Line 24B and Line 26 adds to a large number of previously reported high-grade gold intersections.

These results suggest potential for a high-grade open pittable gold resource with robust project economics.

Diamond drilling progress

Tietto’s three diamond drill rigs are currently drilling at a rate of about 4,500 metres per month.

In addition to drilling between Line 22 and Line 15 to upgrade the resource categories, the company is also testing for depth extensions beneath the high-grade core of the AG deposit. 

Drilling is on track to achieve a significant update to Tietto’s minerals resource inventory which also aims to increase the confidence classification of resources by the end of Q4 2019.

Quick facts: Tietto Minerals Ltd

Price: 0.26 AUD

ASX:TIE
Market: ASX
Market Cap: $53.95 m
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