viewTietto Minerals Ltd

Tietto Minerals to continue aggressive resource definition campaign at Abujar, West Africa

The WA-based company will hold its annual general meeting in Perth tomorrow.

gold offset by US dollars
The flagship Côte d’Ivoire project is prospective for gold
  • The Perth company’s lead asset is the Abujar Gold Project in Côte d’Ivoire, West Africa. 
  • Abujar is at the resource definition stage, with continued upgrades improving gold-in-ground valuations. 
  • Drilling will continue into next year at the project the company hopes to take into development. 

We will be very busy in 2020 …  and we will continue with our aggressive resource definition drilling as well as testing new targets over the 70-kilometre strike of the largely untested Abujar gold corridor.

Tietto Minerals managing director Dr Caigen Wang

What does Tietto Minerals do?

Tietto Minerals Ltd (ASX:TIE) is an explorer in Côte d’Ivoire, West Africa, that has materially updated its gold mineral resources at the Abujar project.

The Western Australian company hopes to fast track the project to development.

Who leads Tietto Minerals?

Perth-based Tietto is led by managing director Dr Caigen Wang, an engineer and minerals explorer with more than 25 years’ mining industry experience.

The Tietto founder has worked in Africa, China, Australia and Canada on coal, gold, nickel, iron, copper, lead and zinc, molybdenum and oil sands projects.

His past roles include senior management postings at mining majors St Barbara Ltd (ASX:SBM) (FRA:BM1) (OTCMKTS:STBMF), Sons of Gwalia NL (ASX:SGW), BHP Billiton (ASX:BHP) (LON:BHP) (NYSE:BHP)(SWX:BHP) (OTCMKTS:BHPLF) and China Goldmines PLC.

What does Tietto Minerals own?

The key asset is the 1,114-square-kilometre Abujar Gold Project in Côte d’Ivoire, West Africa.

A significant portion of the 70-kilometre-long strike length at the project remains to be tested with drilling.

Tietto materially increased JORC resources at the project today by 24% to 2.15 million ounces grading 1.5 g/t gold.

The mineral resource inventory covers two key gold deposits at Abujar - Abujar‐Gludehi (AG) deposit and the smaller Abujar Pischon‐Golikro (APG) deposit.

Confidence in the resource has also increased so that 40% of the deposit is in the indicated category.

A high‐grade section of the AG resource is now 4,000 ounces a vertical metre.

The company views the high-grade resource as enough to support a high-margin open-pit mining operation.

Metallurgical test work has indicated high gold recovery could be achieved from ore at the project using conventional carbon-in-leach (CIL) extraction methods for significant low-cost gravity recovery.

What are Tietto Minerals’ next steps?

The company’s focus for 2020 is to undertake more drilling and target continued resource inventory growth.

Tietto Minerals managing director Dr Caigen Wang said, “We will be very busy in 2020 as our fleet of four company drill rigs are on track to deliver 50,000 metres or more of drilling by Q3 2020, doubling all drilling at Abujar to date, as we target continuing rapid growth in our gold resource inventory.

“Gold mineralisation at AG and APG remains open and we will continue with our aggressive resource definition drilling as well as testing new targets over the 70-kilometre strike of the largely-untested Abujar gold corridor.”

Three drill rigs are being deployed at the project in the latest 50,000-metre drilling campaign expected to extend into the March 2020 quarter.

Inflection points

  • Continued mineral resource statement upgrades
  • Significant events and shareholder support at upcoming annual meeting
  • Gold sector sentiment and West African investment climate

Tietto Minerals will hold its annual general meeting in Perth at 88 William Street on November 13, 2019, at 10am Western Standard Time (1pm EST).

Quick facts: Tietto Minerals Ltd

Price: 0.57 AUD

Market: ASX
Market Cap: $224.64 m

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