logo-loader
viewTietto Minerals Ltd

Tietto Minerals intersects 7 metres at 9.38 g/t gold in step-out drilling at Abujar-Gludehi deposit

The company is well placed to deliver key project milestones during 2020 while ensuring a strong balance sheet.

Tietto Minerals Ltd - Tietto Minerals hits 7 metres at 9.38 g/t gold in step-out drilling at Abujar-Gludehi deposit
The new drilling results extend gold mineralisation up to 100 metres below the existing resource model

Tietto Minerals Ltd (ASX:TIE) has hit 7 metres at 9.38 g/t gold in step-out drilling at Abujar-Gludehi (AG) deposit within the Abujar Gold Project in Côte d’Ivoire, West Africa.

The company has drilled seven diamond holes for 2,541 metres with results received for five holes and two holes pending.

High-grade mineralisation intersected below the current mineral resource includes:

  • 7 metres at 9.38 g/t from 259 metres, including 1-metre at 53.49 g/t; and
  • 4 metres at 5.06 g/t from 318 metres.

These results have extended gold mineralisation up to 100 metres below the existing resource model, with mineralisation remaining open both along strike and down dip.

"High-grades in multiple stacked lodes”

Managing director Caigen Wang said: “AG continues to expand, and I am very pleased to report that the latest batch of assays from our ongoing drill program has again reported high-grade gold mineralisation in multiple stacked lodes.

“One of the new high graded intersections is located around 100 metes down dip from the last resource outline.

Results will add ounces

“These results will add more ounces to the high-grade core of the AG resource in the upcoming resource update in Q3 2020.

“All steps have been taken to ensure the wellbeing of our people at site and mitigate the spread of COVID-19.

“We adopted quarantine protocols from the beginning of February and have progressively strengthened site safeguards since then.

“I am pleased to report that our drilling operations continue to deliver up high-grade core as we test the depths.”

Cross-section showing the latest drill results at AG

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

This will ensure a steady flow of drill results to be incorporated into an Abujar resource update scheduled for Q3 2020, which is expected to build on the existing 2.2-million-ounce gold resource.

Tietto expects to report further drilling results in the coming weeks in new prospects along strike extension of the AG deposit and the APG deposit.

No COVID-19 cases

The company can continue to utilise its own low-cost diamond drilling rigs as a result of Tietto’s early adoption of extensive hygiene and self-isolation policies to protect its workforce.

There have been no cases of COVID-19 infection reported by any of the company’s employees and strict measures are in place to restrict the movement of people to site to prevent the spread.

Freight is currently exempt from government lockdown measures and regular shipments of supplies and fuel are being received at site.

Tietto is prepared for any interruption in freight movement having begun stockpiling supplies, fuel and drilling consumables during February in case of COVID-19 reaching Côte d’Ivoire.

Quick facts: Tietto Minerals Ltd

Price: 0.355 AUD

ASX:TIE
Market: ASX
Market Cap: $126.07 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

Kazia Therapeutics working on moving its flagship Paxalisib drug into...

  Kazia Therapeutics Ltd's (ASX:KZA) James Garner speaks to Proactive's Andrew Scott after releasing a poster presentation of interim data from the ongoing phase II study of Paxalisib in glioblastoma at the prestigious American Society of Clinical Oncology (ASCO) annual meeting. Analysis...

14 hours, 45 minutes ago

3 min read