Tietto Minerals Ltd (ASX:TIE) continues to deliver high-grade gold intersections from infill drilling at the AG Core and AG South prospects within the company’s 3.45-million-ounce Abujar Gold Project in Côte d’Ivoire.
The drilling is targeting the delineation of measured resources over 2.9 kilometres, which are expected to be mined during the first two years of Abujar’s production.
Strong intersections from infill drilling include:
- 10 metres at 16.60 g/t gold from 42 metres including 1-metre at 119.87 g/t;
- 5.50 metres at 9.66 g/t from 46.5 metres; and
- 5 metres at 7.32 g/t from 46 metres.
Looking ahead, Tietto’s six diamond rigs are actively drilling and the company is fully funded with more than 100,000 metres of drilling forecasted in 2022.
“Targeted program”
Tietto managing director Dr Caigen Wang said: “I am pleased to report more shallow high‐grade mineralisation from our infill drilling at AG Core and AG South.
“The drilling at AG Core is part of a small, targeted program designed to allow for further increases to measured resources in the next MRE update.
“Our expanded infill drilling program aims to define measured resources (over 2.9 kilometres) between Section Lines 0 to 29 (AG South and AG Core) expected to be mined during the first two years of production.”
Infill drilling at AG Core
Tietto’s infill drilling at AG Core is a small targeted program of about 4,000 metres designed to allow for further increases to measured resources in the next mineral resource estimate (MRE) update.
Drilling has intersected good widths and grades in assays received to date with these new results increasing the tally to 73 intervals greater than 50 gold gram metres, including 13 intervals greater than 200 gold gram metres at AG Core.
Tietto is planning further drilling to assess the potential below the planned DFS open pit and test the limits of gold mineralisation at depth which is still open down to 650 metres from the surface.
Infill drilling at AG South
Tietto’s infill drilling at AG South is designed to convert indicated resources to the measured category for mining in the first two years of production.
Infill drilling is being carried out at AG South on 25-metre line spacings between Section Lines 0 to 13 to a depth covering the first two years of gold production at Abujar (~120 metres vertical depth).
Gold mineralisation at AG South remains open at depth and Tietto is planning further drilling to assess the potential below the planned DFS open pit.
Forward plan
Tietto completed a A$130 million two tranche placement to accelerate the development of Abujar, allowing the participation of like‐minded investors keen for the company to realise its first gold production by the December quarter of 2022 and produce 260,000 ounces of gold in 2023.
Tietto remains very well positioned to advance its dual strategy of ‘Drill and Build’ throughout 2022:
- Continue to drive rapid resource growth at the 3.45-million-ounce Abujar Gold Project; and
- Fast‐track development of Abujar Gold Project to achieve first gold in Q4 CY22.
Dr Wang adds: “Once this program is completed, our drill rigs will again move to the still largely untested potential of the main Abujar Shear and undertake new resource definition drilling.
“We are fully funded to production at Abujar, which has the potential to be one of the largest gold producing mines in Côte d’Ivoire, with an expected production of more than 260,000 ounces of gold in the first year and 1.2 million ounces of gold in the first six years.
“Tietto has an experienced team on board to deliver Abujar on time and within budget.
“We are on track to deliver another mineral resource update this year.
“Shareholders can expect further updates from our aggressive diamond drilling program as we advance our dual strategy of ‘Drill and Build’ and develop our Abujar Project into West Africa’s next gold mine, with first gold by the end of Q4 CY22.”