West African gold explorer and developer Tietto Minerals Limited (ASX: TIE) has received further high‐grade gold results from infill and step‐out drilling completed at AG Core, part of its 3.45Moz Abujar Gold Project in Côte d’Ivoire, West Africa.
“Our exploration team continues to deliver high impact holes from our diamond drilling at AG,” Managing Director, Dr Caigen Wang, said.
“The latest high‐grade intercept of 19m @ 21.94 g/t Au from 270m (ZDD1388) is the third highest gold intercept hit at AG Core and the fourth highest gold intercept for the Abujar Gold Project.
“We now have 17 intervals greater than 200 gold gram metres at AG Core including the Project best intercept of 8m @ 393.59 g/t Au from 38m inc. 1.1m @ 2,853 g/t Au which was drilled earlier this year.
“Owning our diamond drill rigs will allow us to drill around 120,000m of core this calendar year at the same time as our build team executes the build at Abujar. These drill results demonstrate the potential of the high‐grade shoots that are prevalent at AG Core to continue to deliver spectacular high‐grade gold intercepts.
“We will incorporate all drilling intercepts reported into the next resource update, expected early in CY23 to allow inclusion of all results from our expanded programme.
“We have no debt with zero hedging and are fully funded to production at Abujar, which has potential to be one of the largest gold producing mines in Côte d’Ivoire, with an expected production of more than 260,000 ounces of gold in the first year and 1.2M ounces of gold in the first six years.
“Tietto has an experienced team on board to deliver Abujar on time and on budget. Shareholders can expect further updates from our aggressive diamond drilling program as we advance our dual strategy of ‘Drill and Build’ and develop our Abujar Project into West Africa’s next gold mine, with first gold by the end of Q4 CY22.”
Diamond Drilling – AG Core and AG South
Tietto is pleased to report the latest batch of assay results (16 DD holes for 4,832m) from infill and depth extensional diamond drilling at AG Core and AG South. Drilling results will be incorporated into the next MRE update.
Drilling has intersected good widths and grades in assays received to date with these new results, increasing the tally to 86 intervals greater than 50 gold gram metres, including 17 intervals greater than 200 gold gram metres at AG Core.
Next Steps
Tietto has no debt and is advancing towards first gold production at Abujar by the end Q4 CY22. Abujar is forecast to produce 260,000oz gold in 2023. Tietto is uniquely positioned to advance its dual strategy of ‘Drill and Build’ throughout 2022:
1. Continue to drive rapid resource growth at the 3.45Moz Abujar Gold Project; and
2. Fast‐track development of Abujar Gold Project to achieve first gold in Q4 CY22.
Tietto is finalising an update on Abujar’s LOM production plan using the current Mineral Resource Estimate, increased mill throughput and higher gold prices (spot price is +20% greater than US$1407/oz used in the DFS8), targeting a material increase to existing LOM production.
Tietto has expanded this to incorporate a scoping study to outline the economic benefits of a heap leach operation at APG running in parallel to the Abujar CIL operation.
The company aims to complete 120,000m of drilling in CY2022 with a fleet of eight rigs in operation at Abujar, and it is advancing construction of the process plant and associated infrastructure, which remains on schedule.
Abujar Gold Project is progressing towards first gold pour by the end of Q4 CY22 and is on track to become West Africa’s next producing gold mine.
For further information please visit: https://www.tietto.com/
