viewTietto Minerals Ltd

Tietto Minerals intercepts high-grade gold up to 1-metre at 46.57 g/t in Abujar step-out drilling

The results are from a portion of Tietto’s 70,000-metre drill program and demonstrate the potential for continued resource growth at the 3.02-million-ounce project.

Tietto Minerals Ltd - Tietto Minerals intercepts high grade gold including 1 metre at 46.57 g/t in Abujar step-out drilling
The company is well-funded to pursue its strategy of aggressively exploring at Abujar to drive rapid resource growth.

Tietto Minerals Ltd (ASX:TIE) has received high-grade gold results from multiple targets identified in regional and step-out drilling outside the 3.02-million-ounce resource at Abujar Gold Project in Côte d’Ivoire, West Africa.

The best result was 1 metre at 46.57 g/t from surface at GGL prospect, north of the AG resource, while a potential new gold lode was discovered at AG West with an intercept of 7 metres at 1.33 g/t from 20 metres including 1-metre at 7.62 g/t.

Other strong results from multiple targets include:

  • 1-metre at 32.58 g/t from 167 metres at Koflankro (1-kilometre west of AG resource);
  • 11 metres at 2.17 g/t from 37 metres, including 4 metres at 5.09 g/t at APG (outside existing APG resource); and
  • 6 metres at 2.76 g/t from 170 metres, including 2 metres at 7.67 g/t at GGL (north of AG resource).

Ongoing soil sampling programs have also identified multiple high-grade gold in soil hits including 5038 parts per billion gold (over 5 g/t gold) at AG west.

“Only scratching the surface”

The results are from a portion of Tietto’s ongoing 70,000-metre drill program and have demonstrated the potential for continued resource growth.

The company is confident it is on track to become West Africa’s next gold producer as it develops Abujar – with a pre-feasibility study (PFS) and definitive feasibility study (DFS) expected this year.

Tietto managing director Dr Caigen Wang said: “[The drilling] has returned results that continue to underline our belief that we have only scratched the surface of this large gold system.

“We continue to hit gold mineralisation in new areas where we are drilling for the first time and these high-grade gold results from regional and step-out drilling programs have provided us with great encouragement.”

Looking forwards

Tietto is well funded with $57 million cash at bank to complete Abujar project milestones, including the PFS, DFS (expected in quarter three of 2021) and other long-lead items to accelerate project development.

The company has six diamond drilling rigs active at the project and plans to aggressively drill through 2021 to deliver rapid resource growth at industry low discover costs per ounce.

Dr Wang said: “We will continue to report our results from these drill programs as we work towards a maiden reserve announcement and completion of a pre-feasibility study for Abujar later this quarter.

“With six Tietto diamond drill rigs running day and night for up to 3,000 metres of drill core per week, we are pleased to be able to drill for both resource growth and category updates simultaneously.”

Quick facts: Tietto Minerals Ltd

Price: 0.34 AUD

Market: ASX
Market Cap: $154.68 m

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