Tietto Minerals Ltd (ASX:TIE) has received further high-grade gold results from 10 diamond infill holes at Abujar-Gludehi (AG) deposit, part of its 3.02-million-ounce Abujar Gold Project in Côte d’Ivoire, Africa.
At AG Core, high-grade intercepts include:
- 4 metres at 14.37 g/t gold from 536 metres; and
- 7 metres at 6.23 g/t from 578 metres, including 1 metre at 39.98 g/t.
At AG South, results include:
- 7 metres at 6.53 g/t from 90 metres;
- 4 metres at 3.12 g/t from 104 metres – joining the previously released 5 metres at 109.06 g/t from 99 metres, including 1-metre at 532.06 g/t – resulting in 9 metres at 61.97 g/t from 99 metres and ending in mineralisation.
These high impact holes have potential to add significant shallow high-grade ounces early into the mine schedule.
The infill diamond drilling program is now complete with final assays from the 31 remaining holes still pending.
“Increases confidence in resource”
Tietto managing director Dr Caigen Wang said: “Our infill and extensional drilling program at AG continues to deliver across a range of metrics - more high gold grades, increased resource confidence and resource growth.
“We have hit strong gold mineralisation in hole ZDD511 on section 23B and our wide-spaced extensional drilling has confirmed gold mineralisation over 780 metres at depths between 540‐570 metres below surface.
“As we close the drill spacing, we are likely to hit more high‐grade shoots which bodes well for future underground development.
“Our infill drilling is increasing confidence in the mineral resource, confirming mineralisation at or above expectations as we close up the drill pattern to an indicated resource spacing.
“This is clearly indicated from the ultra‐high-grade gold intersected from AG South Section Line 1B to Line 9 over a 900 metres strike length.“
Plan view showing latest drill results
Mineral resource update due
These latest results will be included in the next Abujar mineral resource update, due at the end of the current quarter.
This model will be handed over to the mining engineers for open pit optimisation studies and Tietto expects to see a material increase in the Abujar ore reserves in the upcoming DFS.
Dr Wang said: “Once the infill program is completed, we intend to use our diamond drill rigs to test the multitude of exploration targets around our proposed mill at Abujar to drive future resource growth.
“On the development front, our recent initiatives and work program demonstrate our progress towards delivery of our fully funded Abujar DFS in Q3 2021 and more broadly, positioning Abujar as West Africa’s next gold mine.”
The company expects that the results will underpin a material upgrade in Abujar ore reserves of 15.7 million tonnes at 1.7 g/t gold for 0.86 million ounces (maiden open pit) with AG 22.9 million tonnes at 1.5 g/t gold for 1.12 million ounces mining inventory and open-pitable inferred resources identified at APG (8.1 million tonnes at 0.8 g/t gold for 0.2 million ounces) with the expanded project study.
With $52 million cash at the end of March, Tietto remains very well-positioned to advance its dual strategy in 2021:
- Continue to drive rapid resource growth at the Abujar Gold Project; and
- Fast‐track development of the Abujar Gold Project.
To that end, the company is aggressively exploring to drive rapid resource growth, targeting 100,000 metres of diamond drilling in 2021 using six company‐owned DD rigs drilling at US$35/metre.
The rigs are drill testing 8.5 kilometres of fertile Abujar main shear along strike from the existing AG and APG deposits, as well as drill testing high priority regional targets.
Fast tracking development
Tietto continues towards delivery of milestones during 2021 including a definitive feasibility study (DFS) for Abujar, which is on track for release in the third quarter of 2021.
The company has secured a SAG mill for the project, has awarded engineering design of the Abujar Gold Mine Processing Plant to Primero Group and is negotiating the Abujar Mining Convention with the Ivorian Government – the final regulatory step for the company to achieve – with all mining and environmental approvals already secured.