Tietto Minerals continues to uncover shallow high-grade gold at Abujar gold project
Tietto Minerals is well funded to deliver project milestones with $60 million in cash at hand.
Infill drilling at Tietto Minerals’ (ASX: TIE) Abujar gold project in west Africa has continued to uncover shallow high-grade gold at the Abujar-Pischon-Golikro deposit (APG), with results to feed into the next resource.
Latest assays have produced notable intersections of 17m at 2.84 grams per tonne gold from 21m, including 9m at 4.55g/t gold; 2m at 22.7g/t gold; and 1m at 13.41g/t gold.
Another hole struck numerous mineralised intervals with highlights of 3m at 3.82g/t gold from 2m; and 18m at 2.93g/t gold from 40m, including 1m at 32.93g/t gold from 57m.
“Our latest round of assay results from infill drilling at APG are delivering shallow high-grade gold intercepts as we close up our drill spacing to delineate indicated resources,” Tietto managing director Dr Caigen Wang explained.
“We are seeing increases in the tenor of gold grades with these assays bumping the top assays to 35.35g/t gold (previously 26.54g/t gold in the last APG resource model) and there are now 28 assays greater than 10g/t gold compared to 19 in the last resource update at APG,” he added.
Drilling continues
Assays are part of a 40,000m infill drilling program that is targeting a resource upgrade for mineralisation outside of current reserves for AG.
AG has a maiden open pit reserve of 15.7Mt at 1.7g/t gold for 860,000oz, which is within mining inventory of 22.9Mt at 1.5g/t gold for 1.12Moz (including inferred identified at APG within the expanded project study).
Tietto has a fleet of six diamond rigs completing about 11,000m a month with assays pending with more than 4,000 core samples under analysis at the laboratory.
A resource update for the project is anticipated later in the current quarter. This will drive mill optimisation and ore reserve work for the Abujar definitive feasibility study which is scheduled for completion in the September quarter.
To fund its ongoing exploration and feasibility work, Tietto has $52 million in cash.