Tietto Minerals adds multiple ‘high-grade’ intercepts at its Abujar gold project
Tietto Minerals is well funded to deliver project milestones with $60 million in cash at hand.
West African gold explorer and developer Tietto Minerals (ASX: TIE) has reported further high-grade gold results from infill and extensional drilling at its 3.2 million ounce Abujar gold project in Cote d’Ivoire.
Its main AG Core has been extended at depth with an intersection over 4m of 14.37 grams per tonne gold.
Another hole hit 7m at 6.53g/t.
In addition, drilling at AG South has also come up with some impressive figures.
One hole went through 4m at 3.12g/t from 104m down hole, adding to a previously announced intercept of 5m at 109g/t, which was hit from 99m.
That 5m included 1m at 532.06g/t.
With these intervals combined, the zone intercepted is now 9m at 61.97g/t from 99m, with the hole also ending in mineralisation.
‘Bodes well’ for future underground development
Tietto has been systematically diamond drill testing inferred mineral resources at the AG and APG deposits since September 2020, the drilling cut-off date used for the October 2020 mineral resource model.
Managing director Caigen Wang said that, as Tietto closes the drilling space between holes, the company is likely to intercept more high-grade shoots which he said bodes well for future underground development.
Dr Wang says the infill drilling is increasing the company’s confidence in the mineral resource, confirming mineralisation at or above expectations as it closes up the drilling to an indicated resource pattern.
“Once the infill program is completed, we intend to use our diamond drill rigs to test the multitude of exploration targets around our proposed mill at Abujar to drive future resource growth,” he added.
More than 6,100 drill samples at lab
Tietto has now completed its current program of infill diamond drilling with final assays expected in the coming weeks.
The company says it expects recent drilling will underpin a “material” upgrade to Abujar’s ore reserves of 15.7 million tonnes at 1.7g/t for 860,000oz at the maiden open pit.
This is within AG’s 22.9Mt at 1.5g/t for 1.12Moz, along with open-pitable resources at APG of 8.1Mt at 0.8g/t for 200,000oz.
More than 6,100 Abujar samples at present at the laboratory.
The company’s six diamond rigs are drilling around 11,000m per months, the aim being to achieve rapid resource growth at a low discovery cost per ounce.
The June quarter work program includes front end engineering and design and starting work on the site and camp.