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Tietto Minerals hits 24 g/t gold and extends strike 900 metres at APG within 2.2-million-ounce Abujar project

The West African gold explorer and developer is continuing its 50,000-metre, fully funded drill program with the aim to update its resource for the project in quarter three of 2020.

Tietto Minerals Ltd - Tietto Minerals hits 24 g/t gold in step out diamond drilling at its 2.2 million Abujar Gold Project, Côte d’Ivoire
Tietto expects to report more drilling results in coming weeks

Tietto Minerals Ltd (ASX:TIE) has hit up to 24 g/t gold and extended the strike length by 900 metres at the APG deposit within the 2.2-million-ounce Abujar Gold Project, in Côte d’Ivoire, West Africa.

The company has received further encouraging shallow, high-grade results from diamond drilling, which have demonstrated continued growth of the project. 

Results from 13 of 17 diamond holes drilled for 4,127 metres below the current resource at Abujar‐Pischon‐Golikro (APG) deposit include:

  • 6 metres at 4.55 g/t from 229 metres, including 1-metre at 24.38 g/t; and 
  • 6 metres at 2.67 g/t from 83 metres.

Shares have been as much as 7.5% higher to 36.5 cents intra-day.

“Open-pittable gold”

Tietto managing director Dr Caigen Wang said: “The latest round of diamond drilling results has successfully extended gold mineralisation along strike and down dip at the APG deposit.

“We have confirmed gold mineralisation over a 900-metre strike length that is exclusive of the current resource model which has joined into a contiguous 3,500-metre zone, open to the north and south.

“The gold system at APG remains open at depth – up to 280 metres below surface – and the persistence of high‐grade shoots has been confirmed by ZDD221, which intersected  6 metres at 4.55 g/t gold from 229 metres including 1-metre at 24.38 g/t. 

“We expect these results to deliver resource growth at APG enhancing its potential to provide shallow open‐pittable gold ounces that would complement a potential high‐grade open‐pit operation at AG, which is 7 kilometres to the north.” 

Abujar Gold Project.

The company expects to report more drilling results in coming weeks. 

Resource update pending

Tietto’s fully funded 50,000‐metre drill program continues, aiming to increase the resource inventory of existing deposits as well as identifying new prospects within the Abujar project’s 70-kilometre-long gold corridor, of which 90% of the strike length remains to be tested.

Tietto operates four of its own diamond drill rigs on site and continues to achieve record metre production rates throughout the COVID‐19 pandemic. 

Drilling is ongoing at:

  • AG – Extending high‐grade core (19.3 million tonnes at 2.2 g/t for 1.38 million ounces);
  • AG South – Shallow high‐grade gold mineralisation directly south of AG;
  • APG – Extension to shallow resource (11.2 million tonnes at 1 g/t for 350,000 ounces), 7 kilometres south of AG; and  
  • GGL (from AG to Gamina) – Directly north of AG with extensive artisanal workings.

The company operates with some of the lowest exploration costs in the gold sector with ever-improving drill production rates driving this cost efficiency, which will ensure a steady flow of drill results to be incorporated into an Abujar resource update scheduled for quarter three of 2020. 

Quick facts: Tietto Minerals Ltd

Price: 0.47 AUD

ASX:TIE
Market: ASX
Market Cap: $211.44 m
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