Tietto Minerals Ltd (ASX:TIE) made strong progress during the September quarter and is well-funded with A$31 million in cash to continue fast-tracking development of the Abujar Gold Project in Côte d’Ivoire, West Africa.
The highlight of the quarter was the Abujar definitive feasibility study (DFS) which boosted forecast production in the first year by 30% from the PFS to 260,000 ounces of gold at an all-in sustaining cost (AISC) of US$651 per ounce.
Furthermore, the company continues to intersect high-grade gold from infill drilling at the Abujar-Gludehi (AG) within the Abujar Project.
Abujar DFS
Underpinned by ore reserves of 1.45 million ounces, the DFS demonstrates Abujar can deliver annual average production of more than 200,000 ounces of gold over the first six years of production.
With its fleet of drill rigs, Tietto has grown the Abujar mineral resource to 3.35 million ounces gold and expects to further build on this as it drill tests 20 regional prospects within 10 kilometres trucking distance to the planned Abujar mill.
Tietto believes it can add materially to the Abujar DFS gold production profile and it has engaged consultancy Entech to review an AG underground scoping study using pit limits defined in the DFS
A program of metallurgical test-work is underway on samples from APG to assess its suitability to provide feed for a heap leach.
Looking ahead, Tietto will examine the potential for the Abujar mill throughput to increase above DFS levels once the plant is operational, as demonstrated by other West African gold projects.
3D view showing Abujar’s AG Main pit (left) and AG South pit (right).
Exploration activities
During the September quarter, Tietto received further high‐grade gold results from infill drilling at the Abujar‐Gludehi (AG) Deposit at Abujar.
Drilling aims to convert a portion of indicated resources of 35 million tonnes at 1.5 g/t gold for 1.65 million ounces to the measured category, targeting the first two years of Abujar’s gold production.
Tietto is completing infill drilling at AG on 25-metres line spacing between Section Lines 14 to 30 across the AG Core to a depth covering the first two years of gold production.
The company 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.
Drill section AG deposit.
Land acquisition
During the quarter, Tietto reached an agreement to acquire more than 1,200 hectares of land for mine construction areas and mine production areas in a staged manner.
Subsequently, stage 1 land acquisition for a 190-hectare area for processing plant, mine camp and mine access road was completed.
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.
Tietto has secured a SAG mill for the project and the engineering design of the Abujar Gold Mine Processing Plant is being undertaken by Primero Group, a Perth‐based specialist mine design company.
The company is negotiating the Abujar Mining Convention with the Ivorian Government, being the final regulatory step for Tietto to achieve, with all mining and environmental approvals already secured.
Promisingly, Tietto’s owner’s team is focused on value enhancement areas identified by the DFS and is implementing plans for the commencement of long‐lead activities to ensure an expedited route to gold production at Abujar.