Tietto Minerals Ltd (ASX:TIE) has unearthed a staggering 1.4-metre, 262.59 g/t gold intersection during a drill campaign at its 3.35-million-ounce Abujar Gold Project in Côte d’Ivoire, West Africa.
The precious metals explorer fielded multiple high-grade hits during the infill diamond drilling program, which centred on Abujar’s AG Core target and aimed to increase confidence in the Abujar mineral resource.
Some of the best results from the latest 17 holes, covering 2,936 metres, include:
- 2.4 metres at 153.49 g/t gold from 31.6 metres, including the 1.4 metres at 262.95 g/t intersection;
- 11 metres at 2.48 g/t from 65 metres, including 4 metres at 6.19 g/t;
- 12 metres at 11.99 g/t, from 64 metres, including 5 metres at 28.22 g/t;
- 8 metres at 6.07 g/t from 35 metres, including 7 metres at 6.83 g/t; and
- 8 metres at 3.43 g/t from 71 metres, including 2 metres at 12.39 g/t.
The fresh intersections mean Tietto has unearthed 12 intervals grading at more than 200 gold gram metres at AG Core.
Infill drilling accounts for top 50% of Abujar assays
Tietto managing director Dr Caigen Wang said: “I am very pleased to report we have again added multiple, high-grade intercepts from infill drilling at AG Core.
“Intercepts from our infill drilling program account for 50% of the top 10 assays at Abujar, including the project-best results of 1.1 metres at 2,853 g/t gold.
“These gold assays are from the 11th batch of results from the infill drilling program, which was designed to convert indicated resources to measured resources, scheduled to be mined over the first two years of production.
“We are incorporating the results into the resource model update, due at the end of this quarter.”
Next steps
Tietto is waiting on results for another 25 drill holes, covering 5,691 metres, from the Abujar gold play.
In the meantime, six diamond drill rigs continue to turn the soil, with 100,000 metres of drilling activity planned to drive resource growth.
All in all, the intersections bring Tietto one step closer to gold producer status at the Côte d’Ivoire property.
Recently, an October definitive feasibility study outlined Abujar’s robust financials, estimating it would put out 1.2 million ounces of gold over the six years of its 11-year mine life.
The project carries a net present value (NPV) of $1.3 billion at a 5% rate of return pre-tax, as well as a $0.97 billion NPV at the same rate post-tax, based on a US$1,700 gold price.
Wang continued: “We are fully funded to production at Abujar, which has potential to be one of the largest gold-producing mines in Côte d’Ivoire, expected to produce more than 260,000 ounces of gold in the first year and 1.2 million ounces of gold in the first six years.
“We are well-positioned to executed our dual strategy in 2022; our exploration team has recently commenced drilling 100,000 metres of diamond core this year to drive resource growth, and our build team is advancing construction work on schedule as we develop the Abujar gold project into West Africa’s next gold mine by the end of fourth quarter 2022.”