- Tietto Minerals (TIE) reveals a bonanza drill hit of 2,853 grams per tonne gold from the main AG deposit at its developing Abujar gold project in Cote d’Ivoire, West Africa
- The company says the intercept from its infill drilling program at AG is its best achievement to date, with the results now being used to refine its drill targets within the Abujar main shear
- Results from 61 drill holes for 9,329 metres are still pending, while its six diamond drill rigs continue to drill
- The company says it is fully funded to production start-up at the project, following settlement of the second tranche of its recent capital raise
- TIE shares are up 6.12 per cent to 52 cents
Tietto Minerals (TIE) has continued to churn out bonanza gold hits from infill diamond drilling at the core AG deposit at its developing 3.35-million-ounce Abujar gold project in Cote d’Ivoire, West Africa, with the latest weighing in at 2,853 grams per tonne.
The latest spectacular result returned from an interval of 1.1 metres was nestled within an overall drill intersection of 25.37 metres at 131.05 g/t gold from 36.63 metres including eight metres at 393.59 g/t from 38 metres that in turn contained 3.43 metres at 917.63 g/t.
Tietto Managing Director Dr Caigen Wang said the stand-out intercept from the infill drilling program at AG was the company’s best achievement to date.
“This bonanza gold intercept is located close to surface in fresh mineralisation and, combined with the multiple high-grade intercepts we have reported from our infill drilling, it is expected these will have a material impact on the first years of open-pit mining at Abujar,” he said.
“Our exploration team is using these latest results to refine our drill targeting of the high‐grade shoots within the Abujar main shear.
“We think there is great potential to deliver more intersections like these.”
Abujar is forecast to produce more than 260,000 ounces of gold in its first year and 1.2 million ounces of gold in the six years of production operations.
Assay results from 61 further drill holes totalling 9,329 metres were pending.
Tietto said its six diamond drill rigs were continuing to drill and the project’s next resource update was due at the end of the current quarter.
The company said it was fully funded to production start-up at Abujar following settlement of the second tranche of a recent $85 million capital raise.
It was aiming to pour first gold at the new mine in the final quarter of the calendar year.
TIE shares were trading 6.12 per cent higher at 52 cents at 10:42 am AEDT.