viewTietto Minerals Ltd

Tietto Minerals reveals major JORC upgrade to 2.2 million ounces of gold

The company has materially expanded its gold resource within its flagship Abujar Gold Project.

Tietto Minerals Ltd - Tietto Minerals reveals major JORC upgrade to 2.2 million ounces gold
Drilling continues with four-company owned rigs in operation at the project

Tietto Minerals Ltd (ASX:TIE) has increased its JORC resource estimate by 24% to 2.15 million ounces grading 1.5 g/t gold for its two gold deposits within its Abujar Gold Project in Côte d’Ivoire.

Notably, the confidence of the resource has been increased with 40% of the deposit now in the Indicated JORC category.

The resource is split between the primary Abujar‐Gludehi (AG) deposit and smaller Abujar Pischon‐Golikro (APG) deposit.

Tietto’s managing director Dr. Caigen Wang said: “We are very pleased to report that our Abujar Gold Project has moved into a select multi‐million-ounce club with gold resources increasing to 2.2Moz at 1.5 g/t gold. 

“This excellent result has been underpinned by rapid and effective drilling at AG since the last resource update in April 2019 that delivered wide high-grade intercepts on section after section.  

“These high impact holes (from just 15,000m of extensional drilling and 5,000m of infill) have translated into a resource update at AG that has delivered on many fronts." 

Both grade and size increased for high-grade shallow core

The high‐grade section of the AG resource now stands at over 4,000 ounces per vertical metre, supporting the potential for a high-margin open-pit mining operation.

Wang added: “We have increased our shallow high‐grade core to 1.4Moz at a higher grade of 2.2 g/t gold over a continuous 1.4km zone. 

“Our drilling has also increased the confidence of the resource estimate at AG.

“We now have just under half of the AG resource classified as Indicated Resources for 0.86Moz  at  1.8  g/t Au including 9.6Mt at 2.5g/t for 0.76Moz from surface with these resources located at the northern half of AG. 

Four company-owned rigs continue to drill

“Our discovery costs are arguably the cheapest in the industry. 

“We will be very busy in 2020 as our fleet of four company drill rigs are on track to deliver 50,000m or more of drilling by Q3 2020, doubling all drilling at Abujar to date, as we target continuing rapid growth in our gold resource inventory. 

“Gold mineralisation  at  AG  and  APG  remains  open  and  we  will  continue  with  our  aggressive  resource definition drilling as well as testing new targets over the 70km strike of the largely untested Abujar  gold corridor.”

Quick facts: Tietto Minerals Ltd

Price: 0.625 AUD

Market: ASX
Market Cap: $222.92 m

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