Tietto Minerals Ltd (ASX:TIE) has intersected more high-grade gold in the second batch of infill drilling at the Abujar‐Gludehi (AG) deposit, part of its 3.35-million-ounce Abujar Gold Project in Côte d’Ivoire, West Africa.
With intersections of up to 16 metres at 17.6 g/t gold from 69 metres, including 2 metres at 126.57 g/t, the company is confident of upgrading a portion of the indicated resources of 35 million tonnes at 1.5 g/t for 1.65 million ounces to the measured category.
This upgrade would target the first two years of Abujar’s gold production and would assist in de-risking the Abujar project.
As well as the 16-metre intersection, the second batch of assay results from 12 holes totalling 2,127.5 metres at AG Core, part of a 30,000-metre infill diamond drill program on 25-metre line spacing, included:
- 18 metres at 3.3 g/t from 60 metres, including, 7 metres at 6.23 g/t; and
- 12 metres at 2.07 g/t from 18 metres, including, 4 metres at 4.42 g/t.
Promisingly, the company is targeting the first gold at Abujar in the December quarter of 2022.
De-risking open pit mining
Tietto managing director Dr Caigen Wang said: “Our infill drilling program at Abujar continues to deliver more high‐grade gold intercepts that will further de-risk open pit mining at Abujar.
“We have designed the infill program to convert indicated resources to measured resources scheduled to be mined within the first two years of production.
“There are assays outstanding for 77 drilled holes and we estimate there are another 10,000 metres remaining to be drilled for the infill program at AG Core.
“We expect to see more high grades as results from these holes start to come in from the lab.
“The results from the infill drilling program will be incorporated into the next resource model update currently slated for the end of Q4 2021."
Fast-tracking development
Tietto continues towards the delivery of milestones during 2021 including a definitive feasibility study (DFS) for Abujar, which is on track for the end of the current quarter.
The company has secured a SAG mill for the project and engineering design of the Abujar Gold Mine processing plant is being undertaken by Primero Group, a Perth‐based specialist mine design company.
In addition, Tietto is negotiating the Abujar Mining Convention with the Ivorian Government, being the final regulatory step for the company to achieve, with all mining and environmental approvals already secured.
The company’s owner’s team is focused on value enhancement areas identified by the pre-feasibility study (PFS) and is implementing plans for the commencement of long‐lead activities to ensure an expedited route to gold production at Abujar.
Aerial view of the Abujar Project.
“Aggressive exploration program”
Wang adds: “Work on the DFS is progressing with delivery of key findings expected by the end of the September quarter.
“Mine engineers have incorporated the recently updated resource model from July 2021 into mine optimisation, detailed design and scheduling in preparation of what we expect will be a material update of the Abujar ore reserves.
“We have a target of first gold in Q4 2022 from Abujar, to be West Africa’s next gold mine.
“We are funded to complete our twin strategy of maintaining our aggressive exploration program while developing a gold mine at Abujar.”
Forward plan
Tietto had $45 million cash at the end of June 2021 and remains well-positioned to advance its dual strategy in 2021.
The company is targeting to drive rapid resource growth at Abujar with its aggressive exploration program which includes:
- Targeting 100,000 metres of diamond drilling in 2021 using its six-company owned diamond drill rigs drilling at US$35 per metre;
- Drill testing 8.5 kilometres of fertile Abujar main shear along strike from the existing AG and APG deposits; and
- Drill testing high priority regional targets.