Tietto Minerals secures key environmental approval for 3.2-million-ounce Abujar Gold Project
The company expects to secure two remaining major government approvals required for the Abujar Gold Project early in the first half of 2021.
Company
ASX:TIE
Tietto Minerals Ltd (ASX:TIE) is producing gold from its Abujar Project in Côte d’Ivoire.
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The company expects to secure two remaining major government approvals required for the Abujar Gold Project early in the first half of 2021.
The West African gold explorer's overall JORC 2012 resource at the Abujar project now stands at 3.02 million ounces, at an all-in exploration cost of US$5.20 per additional ounce.
The company is making progress in upgrading the mineral resource estimate at the project and is finalising the release of a pre-feasibility study.
The company is planning aggressive drilling programs into 2021 using its own fleet of diamond rigs to deliver rapid resource growth at low discovery costs per ounce.
The company’s diamond drill rigs have delivered more than 61,000 metres of drilling with some of the gold sector’s lowest costs since October 2019.
Tranche two placement shares were issued following shareholder approval at a general meeting of members held on September 10, 2020.
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.
The company has reported nearly 40 high-grade gold intersections over 50 gold grams metres within the high-grade core at Abujar-Gludehi.
Proceeds will be used to continue delivering growth in resources through resource and exploration drilling at the Abujar Gold Project in in Côte d'Ivoire, West Africa.
Recent drilling results, together with numerous strong intersections from outside the existing AG mineral resource, are expected to result in a positive uplift in the Abujar mineral resource estimate.
The new results, together with numerous strong intersections from outside the existing AG mineral resource, are expected to result in a positive uplift in the next Abujar mineral resource estimate.
Tietto is currently in the middle of a drilling campaign at the Abujar Gold Project which should result in a resource upgrade sometime during the current quarter.
In its latest quarterly report, the company highlighted outstanding metallurgical test-work results which demonstrate the strong economic potential for a low-cost operation at Abujar.
The new results, together with strong intersections recently reported from outside the existing AG mineral resource are expected to result in a positive uplift in the next resource estimate on track for September 2020.
Through its 90% subsidiary Tiebaya Gold Sarl, the company applied for a gold mining licence within the Abujar Middle Tenement.
Euroz believes Tietto’s shares are trading at a substantial discount to its domestic peers.
The company believes the Abujar Gold Project has the potential to be a sizeable, standalone open-pit mining operation within close proximity to major infrastructure in a supportive mining jurisdiction.
To date, Tietto has defined a resource that has a large amount of contained gold (2.15 million ounces) which is expected to grow in the near-term.
The 50,000‐metre drill program aims to increase the resource inventory of existing deposits as well as identifying new prospects within the Abujar project’s 70-kilometre long gold corridor, of which 90% remains to be tested.
The results and recent intersections from outside the existing resource area add to the potential for a positive uplift in the mineral resource estimate.
Ongoing drilling should deliver expansion both along strike, north, south and at depth.
The West African gold explorer and developer said around 3,000 samples are awaiting assay and more results are expected soon
The West African gold explorer and developer is continuing its 50,000-metre, fully funded drill program with the aim to update its resource for the project in quarter three of 2020.
The test-work program is now moving to cyanide leach optimisation work with expected completion in late June.
New diamond drilling results have extended gold mineralisation to more than 100 metres below the existing resource model.
Hartleys has increased its 12-month price target for the gold explorer to 43 cents per share from 42 cents and has maintained its Speculative Buy recommendation.
Results of up to 5 metres at 4.69 g/t have been received from an ongoing 50,000-metre diamond drilling program aimed at growing the 2.2-million-ounce resource.
The company appointed RPM Global to advance the Environmental, Social and Governance (ESG) program ahead of an updated mineral resource in Q3 2020.
The promising results from the test-work can be used to progress the Abujar pre-feasibility (PFS) study design and flowsheet.
The company is well placed to deliver key project milestones during 2020 while ensuring a strong balance sheet.
The company’s 50,000-metre drilling program comprising infill and extensional drilling continues to yield positive results.
The company has increased its drilling fleet to five diamond drill rigs with a full team of 16 drillers on site to continue the 50,000-metre program.
The West African gold explorer and developer’s Abujar Gold Project is near the major regional city of Daloa in central‐western Côte D’Ivoire, benefiting from existing infrastructure which facilitates exploration and development.
The company is targeting high‐grade near‐surface mineralisation along strike from APG deposit to AG South, which has the potential to provide low-strip feedstock for a future operation.
News flow in the first quarter of 2020 is expected to include additional exploration results and scoping study results.
The company’s entry - Fast-tracking the development of the Abujar Gold Project – emerged as the overall winner.
Tietto is focused on its flagship 2.15-million-ounce Abujar Gold Project in Cote D’Ivoire, West Africa.
Shallow, wide zones of mineralisation at APG may provide low-strip and low processing cost oxide feedstock for a potential operation centred on the high-grade core of 1.38 million ounces at AG deposit.
Hanjing Xu and Mark Strizek have purchased shares after approval was granted by shareholders at a general meeting.
Strizek has served as a non-executive director of the gold explorer since his appointment in July 2017.
The results have extended mineralisation to 400 metres depth at the 1.38 million-ounce Abujar-Gludehi deposit within the Abujar project.
Hartleys has increased its 12-month price target for Tietto to 42 cents from 40 cents.
The company plans to grow its recently upgraded gold JORC resource within its flagship Abujar Gold Project.
Earlier this week Tietto increased its gold resource by 24% to 2.15 million ounces grading 1.5 g/t gold.
The WA-based company will hold its annual general meeting in Perth tomorrow.
The company has materially expanded its gold resource within its flagship Abujar Gold Project.
Tietto is aggressively drilling to expand its 1.7 million ounces gold resource in Cote d’Ivoire.
The results confirmed a high-grade extension along the strike and depth of the project’s Abujar‐Gludehi deposit.
Intensive drilling is ongoing as part of a 30,000-metre diamond drilling campaign for a resource upgrade which remains on track for release in Q4 CY19.
An upgrade to the resource is on track for the fourth quarter of 2019 and is anticipated to contain a substantial component of indicated gold resources.
Hartleys recently updated its gold price assumptions and TIE’s share price appreciation has also had a positive impact on Hartleys’ valuation.
The broker described the company as a speculative buy and valued its securities at 36.8 cents a share.
The company aims to expand its 1.38 million ounce gold deposit within the Abujar Gold Project.
Intensive diamond drilling is ongoing as part of a 30,000-metre diamond drilling campaign for a resource upgrade on track for release in Q4 2019.
Today the company unveiled high-grade results of up to 29.22 g/t gold from Abujar Gold Project in Côte d’Ivoire, West Africa.
Drilling continues to test for depth extensions of the high‐grade core which currently hosts 15.7 million tonnes at 2.1 g/t gold for 1.06 million ounces.
The company aims to expand its 1.38 million ounce gold deposit within the Abujar Gold Project.
Step-back and extensional diamond drilling to extend gold resources at the northern portion of Abujar Gludehi (AG) is well progressed with assays pending.
The company expects to deliver another resource update to its current JORC mineral resource estimates for the AG (Abujar-Gludehi) and APG (Abujar-Pischon-Golikro) deposits in late 2019.
The strengthened balance sheet will allow the company to aggressively advance the project with ongoing 30,000-metre diamond and reverse circulation drilling as well as a 25,000-metre auger and aircore program.
Additional drilling at the Abujar Gold Project is scheduled to target 5 kilometres in strike length between two deposits.
A continuous 1.4-kilometre high-grade core of 15.7 million tonnes at 2.1 g/t for 1.06 million ounces, represents 85% of contained metal.
The company has deployed a second diamond drill rig in the northern portion of the Abujar-Gludehi deposit to drill step-back holes.
The 30,000-metre drilling program is ongoing with two rigs infilling and extending high-grade gold mineralisation.
The company remains on track to deliver an updated resource in late CY2018.
The corridor has been confirmed with both drilling and soil sampling programs.