Tietto Minerals Ltd (ASX:TIE) is on track to produce its first gold bar from the Abujar Gold Project before year’s end.
Construction at the Côte D’Ivoire gold play is tracking on schedule, and the project remains lost time injury (LTI)-free.
Right now, it’s all hands on deck to get production infrastructure in place. Work continues to set up Abujar’s semi-autogenous grinding (SAG) mill, and the team is clearing the topsoil to place the tailings storage facility.
So far, 25 kilometres of the project’s 34-kilometre, 90-volt power line corridor has been cleared, and formwork is being installed for the second lift at the mill.
Abujar remains fully funded to production thanks to Tietto’s recent $130 million capital raise.
Building West Africa’s next operating gold mine
Speaking to the work to date, Tietto managing director Dr Caigen Wang said: “I am very pleased to provide shareholders with our fifth project construction update for Abujar.
“I thank and congratulate our build team and contractors for their continued commitment to safety, continuing to work LTI-free during March.
“Construction is tracking on schedule at Abujar, which has the potential to be one of the largest producing gold 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.
“I look forward to providing further updates as construction advances the Abujar gold project towards first gold by the end of quarter four, 2022, to become West Africa’s next operating gold mine."
Next steps
Tietto announced a $130 million placement late last month to accelerate Abujar’s development. The raise brought like-minded gold investors to the company's table and solidified its mission to generate first gold before year’s end.
Looking at the year ahead, the company maintains its dual-pronged ‘drill and build’ strategy:
- Continue to drive rapid resource growth at the 3.45million-ounce gold play; and
- Fast-track Abujar’s development to achieve first gold in quarter four.
Earlier this week, Tietto unveiled its maiden measured resource for the gold play, which is now reported to host 350,000 ounces in the highest confidence resource category.
Tietto says the resource de-risks the first two years of gold production and is based on infill drilling at the AG Core target, where rigs turned the soil to around 11 metres deep.