logo-loader
viewTietto Minerals Ltd

Tietto Minerals hits 10 metres at 12.09 g/t gold in diamond drilling at Abujar Gold Project

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.

Tietto Minerals Ltd - Tietto Minerals hits 10 metres at 12.09 g/t gold in diamond drilling at Abujar Gold Project
An Abujar Gold Project resource update is expected in the third quarter of 2020

Tietto Minerals Ltd (ASX:TIE) has drilled 10 metres at 12.09 g/t gold from 286 metres in recent step-out diamond drilling at the Abujar-Gludehi (AG) deposit in Côte d’Ivoire, West Africa.

The results have extended gold mineralisation up to 50 metres below the existing resource model with mineralisation remaining open both along strike and down-dip.

Assays are pending from four remaining holes including the deepest hole drilled to date at AG.

Extensional drilling intersected multiple stacked lodes

Managing director Caoigen Wang said: “Extensional drilling at AG under the high-grade core has intersected multiple stacked lodes of high-grade gold mineralisation over good widths including diamond drill hole ZDD180, which has intersected a wide mineralised structure of around 60 metres.

“ZDD180 has reported multiple high-grade lodes including 10 metres at 12.09 g/t gold from 286 metres and 6 metres at 9.35 g/t from 317 metres within this structure.

“These intervals report just under 200 gold gram metres – this is a high impact hole that will significantly add to the high-grade core of the AG resource.”

“Drilling team continues to efficiently deliver”

Wang added: “Our drilling team continues to efficiently deliver drill metres at some of the most cost-effective rates in the industry.

“We recently completed the deepest hole drilled yet at AG – 550.5 metres for ZDD190.

“Assay results for this hole are awaiting and could potentially extend gold mineralisation by more than 120 metres down dip compared to the November 2019 resource model.

“We will soon have five drill rigs working at Abujar and the company remains on track to deliver our resource update in Q3 2020.

“We have implemented extensive hygiene and self-isolation policies to protect our workforce and mitigate any potential impact from COVID-19 in Cote d’Ivoire.

“The company has experienced no issues in ramping up our drilling program.”

Next steps

Tietto’s fully funded 50,000-metre drill program continues with the goal of increasing the resource inventory of existing deposits as well as identifying new prospects within the Abujar Project’s 70-kilometre-long gold corridor.

The company has recently started drilling on the Gamina prospect, a 4.5-kilometre untested strike-length north of the AG deposit.

Gamina contains extensive large-scale artisanal workings and drilling has intersected visible gold in the first two drill holes but assays are pending.

Resource update scheduled for Q3 2020

The company continues to benefit from operating with some of the lowest exploration costs in the gold sector and will soon have five drill rigs driving this cost efficiency.

This will ensure a steady flow of drill results which will be incorporated into an Abujar resource update scheduled for the third quarter of 2020.

Quick facts: Tietto Minerals Ltd

Price: 0.595 AUD

ASX:TIE
Market: ASX
Market Cap: $212.22 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Tietto Minerals Ltd named herein, including the promotion by the Company of Tietto Minerals Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Salt Lake Potash welcomes key new strategic investor as part of A$15mln funding

Salt Lake Potash Ltd's (ASX:SO4) Tony Swiericzuk speaks to Proactive after announcing a A$10 million strategic investment from Equatorial Resources Ltd (ASX:EQX) as part of a A$15 million placement of convertible notes to corporate and institutional investors. Salt Lake is in the final stages of...

2 days, 10 hours ago

3 min read