Tietto Minerals reports more high-grade intercepts at gold targets within Abujar project

Tietto Minerals ASX TIE Abujar infill drilling gold
Infill drilling at Tietto Minerals’ Abujar project hit 1m at 119.87g/t gold at the AG Core.

West African gold explorer and developer Tietto Minerals (ASX: TIE) has uncovered more high‐grade gold intercepts from infill drilling at the AG Core and AG South targets at its flagship Abujar gold project in West Africa.

The targets sit along the main Abujar Shear and the latest results were generated from six holes for 803 metres at AG Core and 10 holes for 2,826.5m at AG South.

Drilling targeted a delineation of measured resources expected to be mined during the first two years of production.

Highlight results were 10m at 16.60 grams per tonne gold from 42m, including 1m at 119.87g/t; 5.50m at 9.66g/t gold from 46.5m; 5m at 7.32g/t gold from 46m; 10m at 2.73g/t gold from 46m, including 6m at 4.18g/t; and 6m at 3.35g/t gold from 51m including 1m at 18.39g/t.

Assays are pending for 109 infill holes completed for a total 16,336.5m at both targets.

Targeted program

Managing director Dr Caigen Wang said the small, targeted drilling program was designed to ultimately upgrade the project’s mineral resource estimate.

“Our expanded infill program aims to define measured resources over 2.9 kilometres between AG South and AG Core which will be our focus in the first two years of Abujar’s mine life,” he said.

“Once this program is completed, our drill rigs will move to the largely-untested potential of the main Abujar Shear and undertake new resource definition drilling.”

Share placement

In March, Tietto completed a $130 million two‐tranche placement to accelerate development of the Abujar project, with no debt.

The placement allowed for the participation of like‐minded investors keen for the company to see a mine start-up before year end and the production of 260,000 ounces of gold in 2023.

Dr Wang said construction of the mine’s process plant and associated infrastructure remains on schedule.

“We are fully funded to production at Abujar, which has potential to be one of the largest gold producing mines in the Côte d’Ivoire region,” he said.

“We have an experienced team on board to deliver this project on time and budget, we are on track to deliver another mineral resource update this year and our shareholders can expect further updates from our aggressive diamond drilling program as we advance our ‘drill and build’ strategy to develop Abujar into West Africa’s next gold mine.”

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.