Tietto Minerals Ltd (ASX:TIE) has received multiple high-grade gold results from the third batch of infill drilling completed at Abujar-Gludehi (AG) deposit, part of its 3.35-million-ounce Abujar Gold Project in Côte d’Ivoire, West Africa.
Drilling aims to convert a portion of indicated resources of 35 million tonnes at 1.5 g/t gold to measured - targeting the first two years of Abujar’s gold production.
Strong high-grade AG intersections include:
- 22 metres at 5.62 g/t gold from 97 metres, including 5 metres at 17.87 g/t;
- 2 metres at 59.77 g/t from 54 metres;
- 6 metres at 17.01 g/t from 61 metres, including 2 metres at 50.35 g/t; and
- 14 metres at 2.87 g/t from 136 metres, including 4 metres at 9.19 g/t.
Promisingly, Tietto is well-funded, with about $31 million in cash, as it targets first gold at Abujar in the December quarter of 2022.
“De-risking open pit mining”
Tietto managing director Dr Caigen Wang, said: “Our third batch of results from our infill drilling program at Abujar is delivering up more high-grade gold intercepts that continue to de-risk open pit mining at Abujar.
“The infill program is designed to convert indicated resources to measured resources, which are scheduled to be mined within the first two years of production.
“These results validate our strategy of using our own diamond drill rigs drilling at 10,000 metres a month to deliver a constant flow of high-grade gold intercepts with three intercepts reporting over 100 gold gram metres, and two of these were from one hole ZDD685
Infill drilling
Significant high-grade results.
Tietto has 33 diamond holes totalling 5,377 metres completed as part of an infill drilling program that aims to increase confidence in current mineral resource estimates at Abujar.
The company is completing infill drilling at AG on 25-metre line spacing between Section Lines 14 to 30 across the AG Core to a depth covering the first two years of gold production at
Tietto has completed another 66 holes for 12,897 metres with assay results outstanding and plans to drill a further 5,755 metres in its infill program.
At current drilling rates, Tietto expects the infill program across AG Core to be completed with all assays received before the end of November 2021.
Gold mineralisation remains open at AG core at depths well below open pit limits and further drilling will be required to assess the potential for underground mining below the planned DFS open pit.
“West Africa’s next gold mine”
Wang adds: “These impressive results follow hard on the heels of our DFS last week that confirmed Abujar’s potential to be one of the largest gold producing mines in Côte d’Ivoire with more than 260,000 ounces of gold expected to be produced in the first year and 1.2 million ounces of gold in the first six years.
“We are confident the Abujar Gold Project will continue to enjoy growth in both resources and reserves through our continued large-scale drilling program.
“We are focused on advancing the Abujar Gold Project towards becoming West Africa’s next gold mine.”
Forward plan
Tietto is aggressively exploring Abujar to drive rapid resource growth:
- Targeting 100,000 metres of diamond drilling in 2021 using six company-owned DD 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.
Fast-tracking development
Tietto continues to deliver milestones during 2021 and recently released key findings from a definitive feasibility study (DFS) that demonstrated robust financial results and estimated gold production of 260,000 ounces in the first year and 200,000 ounces per year over the first six years of Abujar’s 11-year mine life.
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.
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 approval already secured.
Promisingly, the owner’s team is focused on value enhancement areas identified by the DFS, and are implementing plans for the commencement of long-lead activities to ensure an expedited route to gold production at Abujar.