Tietto Minerals Ltd (ASX:TIE) has reported further high-grade gold results from infill and extensional drilling at its Abujar-Gludehi (AG) and Abujar-Pischon-Golikro (APG) deposits, part of its 3.02 million ounces Abujar Gold Project in Côte d’Ivoire, West Africa.
The results from AG South (11 holes), AG Core (7 holes) and the APG deposit (32 holes) include:
- 29 metres at 4.46 g/t gold from 120 metres, including 17 metres at 7.11 g/t (AG);
- 2 metres at 18.55 g/t from 39 metres (AG);
- 5 metres at 6.05 g/t from 532 metres (AG);
- 3 metres at 9.39 g/t from 94 metres (AG);
- 8 metres at 6.92 g/t from 27 metres, including 2 metres at 26.25 g/t (APG);
- 10 metres at 3.6 g/t from 26 metres, including 8 metres at 4.30 g/t (APG);
- 7 metres at 5.08 g/t from 42 metres, including 2 metres at 16.43 g/t (APG);
- 6 metres at 3.52 g/t from 101 metres, including 1 metre at 18.51 g/t (APG); and
- 5 metres at 3.86 g/t from 13 metres, including 1 metre at 18.63 g/t.
The results from these holes will be included in the Abujar resource model update, which is expected to be delivered by the end of the current quarter.
“Increasing resource confidence and growth”
Tietto managing director Dr Caigen Wang said: “Our infill and extensional drilling program at Abujar has again delivered more high-grade gold intercepts that will deliver increases in resource confidence and resource growth.
“We have hit strong, wide open-pitable gold mineralisation in diamond hole ZDD445 on section 16B.
“This intercept is located just 50 metres below the PFS open pit and once the resource modelling and optimisation is completed, our expectation is that we will see this mineralisation add to the open pit ore reserve in the Abujar definitive feasibility study (DFS).”
The DFS for Abujar is on track for release in Q3 CY2021.
“Drilling underpins a material upgrade”
Tietto expects the recently completed drilling will underpin a material upgrade to Abujar ore reserves of 15.7 million tonnes 1.7 g/t gold for 0.86 million ounces (maiden open pit) within AG 22.9 million tonnes at 1.5 g/t gold for 1.12 million ounces mining inventory and open-pitable inferred resource identified at APG (8.1 million tonnes at 0.8 g/t gold for 0.2 million ounces) within its expanded project study.
Dr Wang said: “The potential for uplift in the resource is clearly demonstrated by the ultra-high-grade gold intersected at AG South (Section Line 1B to Line 10) over a 900-metre strike length.
“At APG, we expect to be able to declare maiden indicated resources once the resource modelling is completed.
The final assay results from the infill program have now been received and the updated drilling database has been handed over to independent resource consultant RPM Global for resource modelling.
Dr Wang said: “We expect to see results from the resource update by the end of June 2021.
“This model will be used by our mining engineers for open-pit optimisation studies and we expect to see a material increase in the Abujar ore reserves in the upcoming DFS.”
Proposed layout of Abujar Gold Project in Côte d’Ivoire.
“West Africa’s next gold mine”
The company’s fleet of six diamond rigs continuing to drill at up to 11,000 metres/month to drive rapid resource growth at Abujar.
Dr Wang said: “Now that 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.”
With around $52 million cash at bank at the end of March 2021, the company is well-funded to advance its dual strategy of driving rapid resource growth at Abujar; and fast-tracking the development of the Abujar Gold Project.
Exploration activities include:
- Targeting 100,000 metres of diamond drilling in 2021 using six company-owned DD drill rigs drilling at US$35/metre;
- Drill testing 8.5 kilometres of fertile Abujar main shear along strike from the existing AG and APG deposits; and
- Drill testing high priority regional targets.
The company is focused on fast-tracking development, and has secured a SAG mill for the project and awarded the engineering design of the Abujar gold mine processing plant to Primero Group.
Tietto is also negotiating the Abujar Mining Convention with the Ivorian Government, which is the final regulatory step – with all mining and environmental approval already secured.