viewTietto Minerals Ltd

Tietto Minerals' aggressive Abujar exploration returns high-grade gold hits from four areas

Tietto has completed more than 60,000 metres of diamond drilling and continues with additional programs until the cut‐off date of mid‐September for the next mineral resource update expected by mid‐October.

Tietto Minerals Ltd - Tietto Minerals plans “aggressive exploration program” to grow reserves after more high-grade intercepts at Abujar Gold Project
Tietto has five company‐owned diamond drill rigs at the Abujar project site

Tietto Minerals Ltd (ASX:TIE) has received high-grade gold results from four areas within the 2.2-million-ounce Abujar Gold Project in Côte d’Ivoire, West Africa, demonstrating the gold mineralised system’s continued growth. 

Best result from the drilling at Abujar-Gludehi (AG), Abujar‐Gludehi South (AG South), Abujar‐Pischon‐Golikro (APG) and Gludehi‐Gamina Link (GGL) was 21 metres at 2.03 g/t gold from 295 metres, including 7 metres at 4.53 g/t.

Rapid drilling, at over 20% above budget for 61,000 metres to date, has produced more than 6,000 pending assays, including 16 pending holes at AG.

"Continued growth"

Tietto managing director Dr Caigen Wang said: “We are reporting further higher-grade gold results, all anticipated to be within an open-pit, which demonstrate the continued growth of the high-grade core at AG as well as strong intercepts from AG South, APG and GGL.”

“We have now drilled over 61,000 metres, or 20% over budget, and we have extended the assay cut-off for the upcoming resource model to ensure that all assays including 16 additional holes at AG may be incorporated into the resource estimate update, which will be delivered in mid-October.”

“Aggressive exploration”

Once the resource update is delivered, Tietto intends to continue rapidly growing its mineral resource inventory at Abujar throughout 2021.

Wang said: “Following the delivery of the resource update, we intend to continue to rapidly grow our mineral resource inventory at Abujar throughout 2021.

“Our exploration team is planning aggressive exploration programs across three contiguous tenements using our own diamond drill rigs to deliver this rapid growth at an extremely low discovery cost.”

Other strong results were 6 metres at 1.98 g/t from 60 metres including 5 metres at 2./26 g/t at AG, 3 metres at 7.62 g.t from 169 metres including 1-metre at 22.21 g/t at AG South, 8 metres at 1.78 gt/ from 213 metres including 3 metres at 4.08 g/t from APG and 1-metre at 16.30 g/t from 114 metres at GGL.

Ongoing diamond drilling

The company aims to drive resource growth by directing further diamond drilling in the following areas:

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

Oblique cross section showing latest drill results at AG.

Low-cost exploration

Tietto has five company‐owned diamond drill rigs at the Abujar project site

Substantial exploration upside remains at the Abujar project, made up of three contiguous tenements (totalling 1,114 square kilometres) which cover multiple parallel gold mineralised zones over a 70-kilometre shear structure that remains untested by drilling.

The company is planning exploration programs across the tenements using its own diamond drill rigs to deliver rapid growth at an extremely low discovery cost. 

Next steps 

The company recently completed tranche one of a $57.5 million placement ($21.8 million) with tranche two subject to shareholder approval at a general meeting on September 10, 2020.

Tietto is well-funded to complete milestones during 2020/21 including a pre‐feasibility study (PFS) for Abujar, which is on track for release in quarter one of 2021.

The company shortly expects to report drilling results from 11,000 metres of un‐assayed samples which will be incorporated into the resource update to be released in mid‐October. 

Quick facts: Tietto Minerals Ltd

Price: 0.48 AUD

Market: ASX
Market Cap: $216.2 m

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