Tietto Minerals Limited (ASX: TIE) has obtained further high-grade gold results from step-out drilling completed at South Gamina (SG), part of its 3.45Moz Abujar Gold Project in Côte d’Ivoire, West Africa.
Highlights:
➢ Tietto adds more high-grade gold intercepts from step-out and depth extension drilling at South Gamina (SG, 2.5km to Abujar CIL plant), part of its 3.45Moz Abujar Gold Project; better results include:
➢ 2.70m @ 37.88 g/t Au from 61.8m incl. 0.55m @ 184.55 g/t Au (ZDD1440 – Section 56B) ➢ 3.00m @ 18.02 g/t Au from 120m (ZDD1415 – Section 61B)
➢ 2.50m @ 8.90 g/t Au from 113.5m (ZDD1414 – Section 60B)
➢ 1.00m @ 21.75 g/t Au from 68m (ZDD1399 – Section 32B)
➢ Headline intercept is the second highest drill hit at SG following earlier result of 4m @ 24.73 g/t Au from 85m incl. 0.50m @ 195.53 g/t Au (ZDD1319 – Section 57)1
➢ South Gamina (SG) covers a 3.3km strike length from Section 30 to Section 63 (currently a satellite pit between Section 36 and Section 46 included in the 1.7Moz mining inventory used in Abujar’s DFS)
➢ Assay results reported from 32 DD holes (6,008.3m) to increase both the size and confidence of SG’s Mineral Resources (1.6Mt @ 1.2 g/t Au for 0.06Moz) – results to be included in Tietto’s next MRE update expected early CY23
➢ Assays pending for 110 holes (19,500m) with more than two thirds of these from step-out holes
➢ Tietto’s eight diamond rigs are actively drilling and on track to complete 120,000m of core in CY22
➢ Tietto plans further drilling at SG to test the extent of gold mineralisation, which is open at depth
➢ Abujar DFS demonstrated robust financial results and estimated first-year gold production of 260,000oz and 1.2Moz over the first six years of Abujar’s 11-year mine life for an NPV5% of A$1.3B (pre-tax) and A$0.97B (post-tax) using US$1,700/oz Au and A$/US$=0.742
➢ Abujar gold plant construction is fully funded and has no debt; on target for first gold pour in three weeks.
“Our exploration team is targeting high-grade shoots at SG inside Abujar’s’ mining exploitation permit and our drilling is delivering more shallow, open-pitable,
high-grade results; ZDD1440 hitting 2.70m @ 37.88 g/t Au from 61.8m incl. 0.55m @ 184.55 g/t Au. These drill results show the potential of the high-grade shoots that are prevalent at Abujar to continue to deliver spectacular high-grade gold intercepts,” Managing Director, Dr Caigen Wang, said.
“Within 2.5km trucking distance to the Abujar CIL plant, the SG gold deposit has potential to add near surface ounces to Abujar’s mine plan and further drilling is ongoing; however, these results bode well for Tietto’s pending resource update planned for early CY23. We will incorporate all drilling intercepts from March 2022 to the end of December 2022.
“We have no debt 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 programme 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 pour expected in three weeks’ time.”
Diamond Drilling – South Gamina (SG)
The latest batch of assay results (32 DD holes for 6,008.3m) from step-out and depth extension diamond drilling at South Gamina (SG). Drilling results will be incorporated into the next MRE update.
For further information please visit: https://www.tietto.com/
