- Gold explorer Tietto Minerals (TIE) strikes high-grade gold intercepts in a recent bout of infill drilling at its flagship Abujar project in Côte d’Ivoire
- The latest round of results from the AG South zone of the project area includes a two-metre hit at 14.64 grams of gold per tonne (g/t gold) from 146 metres
- Tietto is working to convert indicated resources at AG South to measured resources as it targets its first gold pour from Abujar before the end of the year
- Managing Director Caigen Wang says the company is on track to deliver a mineral resource update for the project later this year
- Shares in Tietto Minerals are up 3.03 per cent to 51 cents each at 10:52 am AEST
Gold explorer Tietto Minerals (TIE) has struck high-grade gold intercepts in a recent bout of infill drilling at its flagship Abujar project in Côte d’Ivoire.
The company is working to convert indicated resources to higher-confidence measured resources at the AG South zone in the project area as it targets its first gold pour from Abujar before the end of 2022.
Tietto said as part of this infill drilling program, it planned to complete roughly 20,000 metres of diamond drilling.
The latest round of results from the AG South drilling includes a two-metre hit at 14.64 grams of gold per tonne (g/t gold) from 146 metres. This hit included a one-metre zone at 28.74 g/t gold.
Managing Director Caigen Wang said the company was on track to deliver a mineral resource update for the project later this year.
“We are fully funded to production at Abujar, which has the 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 1.2 million ounces of gold in the first six years,” Dr Wang said.
“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.”
Tietto said assays were pending for another 77 infill diamond holes at AG South.
The company in April reported maiden measured gold resources at Abujar of 7.7 million tonnes grading 1.4 g/t gold for 350,000 ounces of gold.
Looking ahead, Tietto said the next step for the project would be to deliver an update on the mine’s production plan using the latest resource estimate.
Tietto’s development plans are supported by a $130 million capital raise announced in late March.
Shares in Tietto Minerals were up 3.03 per cent to 51 cents each at 10:52 am AEST. The company has a $419 million market cap.