West African gold explorer and developer Tietto Minerals Limited (ASX: TIE) has intersected high-grade gold results from infill drilling completed at AG South, part of its 3.45Moz Abujar Gold Project in Côte d’Ivoire, West Africa.
“I am very pleased to see the high-grade intercepts from the first batch of assay results for infill drilling at AG South, where we are targeting the conversion of Indicated Resources to Measured Resources in areas that are likely to be mined within the first two years of production,” Tietto Managing Director, Dr Caigen Wang, said.
“We are looking to complete approximately 20,000m of drilling at AG South and expect the drilling phase to be completed by the end of May 2022. Our drill rigs have also been active on prospects located to the north (GGL) and south (AGM, PGL) of AG with the goal of defining new gold resources in an MRE update planned for later this year. Results will be reported from this drilling as it comes to hand. Our exploration team is going to be busy for many years testing the prospectivity of the still largely untested potential of the main Abujar Shear.
We 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. We are on track to deliver another mineral resource update and first gold at Abujar later this year. Shareholders can expect further updates from our aggressive diamond drilling program as we advance our dual strategy of ‘Drill and Build’ and develop the Abujar Gold Project into West Africa’s next gold mine with first gold by the end of Q4 CY22.”
Infill Drilling – AG South
Tietto is pleased to report the first batch of assays from infill diamond drilling at AG South. The diamond drill program was designed to convert Indicated Resources to Measured Resources for mining in the first two years of production.
Tietto is completing infill drilling at AG South on 25m line spacings between Section Lines 0 to 13 to a depth covering the first two years of gold production at Abujar (~120m vertical depth). Gold mineralisation at AG South remains open at depth and Tietto is planning further drilling to assess the potential below the planned DFS open pit.
Next Steps
Tietto announced a A$130 million two‐tranche placement on 29 March 2022 to accelerate development of Abujar, with no debt. The placement allowed the participation of like‐minded investors, keen for the company to realise first gold production by Q4 CY22 and produce 260,000oz gold in 2023.
Tietto remains very well positioned to advance its dual strategy of ‘Drill and Build’ into 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 continues to deliver project milestones; with Abujar’s maiden Measured gold resources of 7.7Mt @ 1.4 g/t Au for 350,000oz reported on 11 April 2022. Tietto will deliver an update on Abujar’s LOM production plan in Q2 CY22 using the updated Mineral Resource Estimate, increased mill throughput and higher gold prices (spot price is +35% greater than US$1407/oz used in the DFS5), targeting a material increase to existing LOM production.
Tietto’s own team 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/
