viewTietto Minerals Ltd

Tietto Minerals hits 25 metres at 3.24 g/t to extend AG gold mineralisation at depth

The results have extended mineralisation to 400 metres depth at the 1.38 million-ounce Abujar-Gludehi deposit within the Abujar project.

Tietto Minerals Ltd - Tietto Minerals hits 25 metres at 3.24 g/t to extend AG gold mineralisation at depth
A 50-kilometre drill program is being carried out using company-owned drill rigs

Tietto Minerals Ltd’s (ASX:TIE) results of up to 25 metres at 3.24 g/t gold have extended mineralisation

at the Abujar-Gludehi (AG) deposit which sits below the 2.2 million-ounce Abujar Gold Project in Côte d’Ivoire.

Results from a 50-kilometre diamond drilling program have extended gold mineralisation to 400 metres vertical depth at the AG deposit, which has a high-grade core of 19.3 million tonnes at 2.2 g/t for 1.38 million ounces.

The latest intersections have extended known mineralisation up to 150 metres below the resource model update in November 2019 and mineralisation remains open along strike and down dip.

Fourth rig to be used

Tietto is undertaking the program using company-owned drill rigs with the aim of continuing rapid growth of its gold inventory and expects to take delivery of a fourth company-owned rig shortly.

Managing director Dr Caigen Wang said deeper drilling below the existing AG resource had confirmed the system remained open down to 400 metres below surface.

“We have completed the first seven holes for approximately 3.5 kilometres to an average depth of 500 metres and have received assay results for six which confirm wide high-grade gold mineralisation over a strike of 500 metres below our current resource model,” he said.

“We expect to further extend this with receipt of results for the final hole.”

Shares up

Shares in the company, which has a market cap of approximately $50.8 million, are up more than 8% to 26.5 cents.

High-grade results

The 25-metre intersection from 450 metres also included 2 metres at 18.21 g/t from that depth.

Other high-grade results:

  • 7 metres at 3.77 g/t from 438 metres, including 2 metres at 10.96 g/t from 441 metres; 
  • 4 metres at 4.12 g/t from 420 metres, including 2 metres at 6.98 g/t from 420 metres; and
  • 4 metres at 4.74 g/t from 470 metres, including 2 metres at 8.65 g/t from 470 metres.

The company’s first round of deeper drilling has confirmed 500 metres of mineralised strike below the high-grade core.

Wang said, “We are waiting on results for another eight holes for approximately 2.7 kilometres drilled at AG, including two holes on Section Lines 7 and 9, where our geologists reported visible gold.”

Deepest intercepts to date

These are the deepest intercepts that have been reported below the AG mineral resource where gold mineralisation remains open at depth and along strike and further drilling is planned to test the limits.

The drilling program is ongoing with immediate targets being shallow mineralisation at APG and the southern end of the AG deposit.

Regional drilling

Initial drilling will also be undertaken at regional targets parallel to and within 5 kilometres of the existing AG resource.

The MD said, “We have our diamond rigs working at APG, and we are excited to have commenced drilling on two of our priority regional prospects, Mandanou and Koflankro.

“This is part of our 50-kilometre diamond drilling program to grow our existing resources and test the pipeline of new prospects we have identified at Abujar where more than 90% of the mineralised shear structures remain to be tested.”

Quick facts: Tietto Minerals Ltd

Price: 0.605 AUD

Market: ASX
Market Cap: $215.78 m

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