Tietto Minerals Ltd (ASX:TIE) has added more high‐grade gold intersections from infill drilling at AG Core on the main Abujar Shear at its 3.45-million-ounce Abujar Gold Project in Côte d’Ivoire.
The company has six diamond drill rigs on-site with more than 100,000 metres of drilling planned for this year.
A definitive feasibility study for the project demonstrated robust financial results and an estimated first-year gold production of 260,000 ounces and 1.2 million ounces over the first six years of the 11-year mine life for an NPV5 of A$1.3 billion (pre-tax) using a US$1,700-per-ounce gold price and an Australian-US dollar conversion rate of A/US$0.741.
Highlights
Latest results include:
- 8.68 metres at 27.61 g/t gold from 84.3 metres including 2.10 metres at 112.73 g/t from 85.4 metres which includes 1.03 metres at 54.69 g/t and 1.07 metres at 168.6 g/t;
- 12 metres at 12.39 g/t from 251 metres including 3 metres at 31.89 g/t;
- 15 metres at 5.79 g/t from 55 metres including 6 metres at 13.2 g/t;
- 14 metres at 4.07 g/t from 38 metres including 1-metre at 46.1 g/t; and
- 14 metres at 3.47 g/t from 26 metres including 5 metres at 8.97 g/t.
The results are part of an expanding program targeting the delineation of measured resources expected to be mined during the first two years of gold production at Abujar. The campaign of infill drilling has taken in 18 diamond drill holes for 2,346.5 metres.
Assays are pending for 108 holes across 15,580.2 metres drilled at AG South and AG Core – these are expected next month.
Construction at Abujar Gold Project is fully funded with no debt.
Further increases to measured resources
Tietto managing director Dr Caigen Wang said: “I am pleased to report more shallow high-grade mineralisation from our infill drilling on 25-metre line spacing at AG Core. This is part of a small, targeted program designed to allow for further increases to measured resources in the next mineral resource estimate (MRE) update later in Q3 2022.
“This expanded infill drilling program aims to define measured resources over 2.9 kilometres between Section Lines 0 to 29 at AG South and AG Core expected to be mined during the first two years of production. Once this program is completed, our drill rigs will move to the main Abujar Shear, which is still largely untested, 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.”