Tietto Minerals’ rapid resource expansion at Abujar Gold Project set to continue: Argonaut
Ongoing drilling should deliver expansion both along strike, north, south and at depth.
Company
ASX:TIE
Tietto Minerals Ltd (ASX:TIE) is producing gold from its Abujar Project in Côte d’Ivoire.
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Ongoing drilling should deliver expansion both along strike, north, south and at depth.
The West African gold explorer and developer said around 3,000 samples are awaiting assay and more results are expected soon
The West African gold explorer and developer is continuing its 50,000-metre, fully funded drill program with the aim to update its resource for the project in quarter three of 2020.
The test-work program is now moving to cyanide leach optimisation work with expected completion in late June.
New diamond drilling results have extended gold mineralisation to more than 100 metres below the existing resource model.
Hartleys has increased its 12-month price target for the gold explorer to 43 cents per share from 42 cents and has maintained its Speculative Buy recommendation.
Results of up to 5 metres at 4.69 g/t have been received from an ongoing 50,000-metre diamond drilling program aimed at growing the 2.2-million-ounce resource.
The company appointed RPM Global to advance the Environmental, Social and Governance (ESG) program ahead of an updated mineral resource in Q3 2020.
The promising results from the test-work can be used to progress the Abujar pre-feasibility (PFS) study design and flowsheet.
The company is well placed to deliver key project milestones during 2020 while ensuring a strong balance sheet.
The company’s 50,000-metre drilling program comprising infill and extensional drilling continues to yield positive results.
The company has increased its drilling fleet to five diamond drill rigs with a full team of 16 drillers on site to continue the 50,000-metre program.
The West African gold explorer and developer’s Abujar Gold Project is near the major regional city of Daloa in central‐western Côte D’Ivoire, benefiting from existing infrastructure which facilitates exploration and development.
The company is targeting high‐grade near‐surface mineralisation along strike from APG deposit to AG South, which has the potential to provide low-strip feedstock for a future operation.
News flow in the first quarter of 2020 is expected to include additional exploration results and scoping study results.
The company’s entry - Fast-tracking the development of the Abujar Gold Project – emerged as the overall winner.
Tietto is focused on its flagship 2.15-million-ounce Abujar Gold Project in Cote D’Ivoire, West Africa.
Shallow, wide zones of mineralisation at APG may provide low-strip and low processing cost oxide feedstock for a potential operation centred on the high-grade core of 1.38 million ounces at AG deposit.
Hanjing Xu and Mark Strizek have purchased shares after approval was granted by shareholders at a general meeting.
Strizek has served as a non-executive director of the gold explorer since his appointment in July 2017.