Tietto Minerals returns high-grade assays in step-out drilling at Abujar gold project
The latest drill results will be incorporated in a mineral resource upgrade at Abujar, which is expected to be completed by the end of the month.
West Africa-focused gold explorer and developer Tietto Minerals (ASX: TIE) has returned more high‐grade gold intercepts from step‐out drilling at seven prospects within its Abujar gold project in Côte d’Ivoire.
Drilling has extended the limits of the project’s known gold mineralisation, with the high‐grade hits sitting outside an inferred resource for the South Gamina (SG) deposit of 1.6 million tonnes at 1.2 grams per tonne gold for 60,000 ounces.
Four of the prospects are located along strike from high‐grade mineralisation at the AG (Abujar‐Gludehi) Core deposit, while the other three are located along the western corridor.
Increased inventory
Drilling was designed to allow for further increases to Abujar’s open‐pit gold inventory in the next mineral resource update expected towards year end.
It intersected multiple gold mineralised quartz veins (including visible gold) and alteration zones in the diamond core, which is consistent with the style of mineralisation seen at Abujar.
Best results were 4m at 24.73g/t gold from 85m, including 0.5m at 195.53g/t; 1m at 27.91g/t gold from 151m; 0.5m at 48.81g/t gold from 104.9m; and 5.5m at 3.81g/t gold from 81m, including 3m at 6.48g/t.
Gold mineralisation remains open at all seven prospects and more than 2,000m of strike remains to be drill tested.
Placement deal
Earlier this month, Tietto entered into a placement deal with Chifeng Jilong Gold Mining Co subsidiary Chijin International (HK), raising $49.3 million via the issue of 85 million shares to fund Abujar’s development.
Proceeds will be used to accelerate studies into a potential heap leach project and expand exploration drilling with a growing fleet of eight diamond rigs.
Tietto said Abujar remains on-track to realise first gold pour by the end of the year.
It is expected to become one of the largest gold mines in Côte d’Ivoire, with an estimated production rate of 260,000oz gold in the first year and 1.2 million ounces over the first six years.
The project currently has 3.45Moz in contained gold resources.