Go-Ahead For 3Moz Côte d’Ivoire Gold Project
West African gold explorer and developer Tietto Minerals Limited (ASX: TIE) has been granted a Mining Licence for its 3.02Moz Abujar Gold Project, paving the way for development of West Africa’s next gold mine.
Managing Director, Dr Caigen Wang, said this was another important milestone following the grant of the Mining Licence for our 3.02Moz Abujar Gold Project.
“We are in the final leg of the permitting process (ESIA ‐ Environmental Approval secured in October 2020), with negotiations beginning on the terms and conditions of the Mining Convention and expect to conclude these discussions in the first half of 2021,” Dr Wang said.
“Tietto’s Board recently approved expenditure to advance local site works and secure long‐ lead items in anticipation of securing this final approval.
“Work on the Abujar PFS remains on track and we expect to deliver the results in Q1 CY21. Exploration drilling continues to ramp up following completion of the Côte d’Ivoire general election, and we look forward to reporting results in coming weeks and months from this aggressive programme designed to grow Abujar gold resources at extremely low drilling costs.
The company is well funded to deliver our dual‐track strategy and we continue to move closer to our goal of developing Abujar into West Africa’s next gold mine.
“The Board and I would like to acknowledge and thank the Government of Côte d’Ivoire and its officers as well as local communities for the support shown to our team. We also wish to thank our team for their professionalism and work ethic that made this milestone possible.”
Tietto’s systematic exploration over the 70km strike of the Abujar Project’s three tenements has identified three mineralised gold corridors: the West Corridor, Central Corridor and East Corridor.
In total, the company has defined 33 gold prospects to date including 20 gold prospects inside the mining licence with gold resource upside to be realised through the ongoing diamond drilling.
Tietto has recently defined an updated JORC Resource of 3.02Moz gold at Abujar over three deposits hosted within the Central Corridor:
- · AG (Abujar Gludehi): 49.6Mt at 1.5 g/t Au for 2.3Moz
- · APG (Abujar Pischon and Golikro): 31Mt at 0.7g/t Au for 0.7Moz
- · SG (South Gamina): 0.5Mt at 1.4g/t Au for 0.02Moz