Tietto Minerals Ltd (ASX:TIE) has hit 1-metre at 118.29 g/t gold from 205 metres within 3 metres at 41.46 g/t at Abujar‐Gludehi (AG) deposit within the 3.02-million-ounce Abujar Gold Project in Côte d’Ivoire, West Africa, with the company on track to deliver a pre-feasibility study (PFS) this quarter.
The company is set to include the results from more than 28,000 metres of additional diamond core drilling in its next mineral resource update which is due late in quarter two of 2021.
Around 56 holes for 15,480 metres have been completed between sections 15 and 29, designed to increase confidence in the mineral resource estimates at Abujar.
Drill testing is also underway at AG South and APG as part of this program and these results will be reported as they become available.
"Potential for continued growth”
Managing director Dr Caigen Wang said the results demonstrated the system’s potential for continued growth.
He said: “These strong high-grade intersections within the AG core in our 28,000-metre infill diamond drilling program are at open-pit mining depths.
“This program is designed to lift inferred gold resources to indicated resources in the next mineral resource update, which is expected to be delivered towards the end of Q2 2021, allowing Tietto to complete a DFS for Abujar in Q3 of 2021.
“Our six diamond drill rigs operating at Abujar are now delivering around 11,000 metres of diamond core per month at what are industry low costs of US$35/metre.
“This means that despite having one of the most aggressive exploration diamond drilling programs among companies on the ASX, our drilling has a very low drawdown on the company’s cash reserves, giving us flexibility to implement mine pre-development at Abujar.”
Notable results include:
- 5 metres at 25.04 g/t gold from 203 metres, including 3 metres at 41.36 g/t which includes 1-metre at 118.29 g/t from 205 metres;
- 5 metres at 5.21 g/t from 140 metres, including 1-metre at 25.10 g/t from 114 metres;
- 17 metres at 2.14 g/t from 234 metres, including 2 metres at 8.04 g/t from 242 metres and 1-metre at 10.91 g/t from 249 metres;
- 4 metres at 10.25 g/t from 272 metres including 1-metre at 26.25 g/t from 273 metres and 1-metre at 13.13 g/t from 275 metres; and
- 7 metres at 5.30 g/t from 178 metres including 3 metres at 12.05 g/t from 178 metres and 1-metre at 33.18 g/t from 178 metres.
On-track to be West Africa’s next gold mine
Wang added that Abujar was on track to be West Africa’s next gold mine with a mining licence granted late last year.
“We are keen to progress its development through CY2021 with several important milestones to follow this drill program.”
Tietto remains well-positioned to advance its dual strategy in 2021.
The company continues to aggressively explore at Abujar to drlive rapid resource growth with the following activities:
- More than 6,000 diamond core samples at the lab, assays pending;
- Targeting 100,000 metres of diamond drilling in 2021 using six diamond drilling rigs, drilling at US$35/metre;
- Drill testing 8.5 kilometres of fertile Abujar main shear along strike from AG and APG;
- Drill testing high-priority regional targets; and
- Artisanal workings dotted along the 70-kilometre mineralised corridor.
In conjunction, Tietto also continues to fast track development at Abujar which includes:
- Growing the 3.02-million-ounce open pit opportunity;
- Undertaking feasibility studies – PFS in Q1 and DFS expected in Q3;
- A clear pathway to development – mining licence granted and ESIA approved;
- Experienced mine builder Matt Willcox having joined as chief operating officer (COO) on February 1; and
- Positioning to deliver on project milestones with more than A$57 million in cash.