Bonanza gold strike continues for Tietto Minerals at Abujar
Tietto Minerals intercepted 2m at 102.39g/t gold during infill drilling at the AG Core.
West African gold explorer Tietto Minerals (ASX: TIE) has revealed more high-grade gold results from an infill drilling campaign which aims to de-risk open pit mining at its 3.35-million-ounce Abujar gold project in Cote d’Ivoire.
The best strike recorded a bonanza grade of 152.24 grams per tonne of gold from within a 3-metre intersection grading at 79.78g/t gold from a 227m depth. This intercept also included 2m at 119.07g/t gold.
The results came from the seventh batch of infill, step-out and extensional drilling completed at the Abujar-Gludehi (AG) deposit within the project and follows strong results reported from the AG Core in recent months.
The bonanza grade was hit below AG South Pit 4, located 3km south of AG Core.
Tietto’s infill program is focused on converting Abujar’s indicated resources of 35 million tonnes at 1.5g/t gold for 1.65Moz to measured resources, which are scheduled to be mined within the first two years of production.
Bonanza grades came from outside current resource
Tietto managing director Dr Caigen Wang said it was pleasing to see that the latest bonanza gold grades were hit 150m below the definitive feasibility study (DFS) pit and outside the current resource.
“We also have diamond rigs working at AG South and PGL on extensional and step-out drilling designed to deliver resource growth at Abujar,” he added.
Dr Wang said construction work is “on schedule” as Tietto strives to develop Abujar into West Africa’s next gold mine.
“We are now funded to production with Abujar having the potential to be one of the largest gold producing mines in Cote d’Ivoire, expected to produce more than 260,000 ounces of gold in the first year and 1.2 million ounces of gold in the first six years.”
Resource update due next quarter
This seventh batch of assays now brings the total reported results from the AG infill drilling program to 160 holes for 29,327m.
Multiple high-grade gold intercepts were also returned from AG Core including: 5m at 14.44g/t gold from 91m, including 2m at 35.58g/t gold; 9m at 6.03g/t from 82m including 4m at 13.23g/t; and 5m at 10.16g/t gold from 74m.
Tietto is anticipating assays for 84 holes for 18,317m in January 2022.
Six diamond drill rigs are currently active on-site with the next resource update due in the first quarter of the new year.
The company is now funded to production following a recent $85 million capital raising and a five-year debt facility of up to $190 million with construction underway targeting first gold at Abujar in the 2022 fourth quarter.