Tietto Minerals Ltd (ASX:TIE) has been granted a trading halt by the ASX pending the release of information regarding a material capital raising.

Shares in the company will remain halted until the earlier of either, the release of relevant information, or, the commencement of trading on Monday 18 November, 2019.

Capital raising follows recent resource upgrade

Earlier this week, Tietto increased the JORC resource estimate by 24% to 2.15 million ounces grading 1.5 g/t gold for its two gold deposits within its Abujar Gold Project in Côte d’Ivoire.

Notably, the confidence of the resource was increased with 40% of the deposit in the Indicated JORC category.

The resource is split between the Abujar‐Gludehi (AG) and Abujar Pischon‐Golikro (APG) gold deposits.

Drilling at the project continues with four-company owned rigs in operation.