Tietto Minerals Ltd delivers 1.4 meters at 262.59 g/t gold from Abujar infill drilling

0

“Intersections from our infill drilling program represent 50% of the top 10 assays at Abujar, including the project’s best results of 1.1 meters at 2,853 g/t gold,” says Dr. Caigen Wang.

Tietto Minerals Ltd (ASX:TIE) unearthed a staggering intersection of 1.4 meters and 262.59 g/t gold during a drilling campaign on its 3.35 million oz Abujar gold project in Ivory Coast, West Africa.

The precious metals explorer made several high-grade discoveries during the diamond infill drilling program, which centered on Abujar’s AG Core target and was aimed at increasing confidence in Abujar’s mineral resources.

Some of the best results from the last 17 holes, covering 2,936 yards, include:

  • 2.4 meters at 153.49 g/t gold from 31.6 meters including the intersection of 1.4 meters at 262.95 g/t;
  • 11 meters at 2.48 g/t from 65 meters, including 4 meters at 6.19 g/t;
  • 12 meters at 11.99 g/t, from 64 meters, including 5 meters at 28.22 g/t;
  • 8 meters at 6.07 g/t from 35 meters, including 7 meters at 6.83 g/t; and
  • 8 meters at 3.43 g/t from 71 meters, including 2 meters at 12.39 g/t.

The new intersections mean that Tietto unearthed 12 intervals grading over 200 grams of gold at AG Core.

Infill drilling accounts for top 50% of Abujar assays

Tietto’s Managing Director, Dr. Caigen Wang, said, “I am very pleased to announce that we have again added multiple high-grade intersections from infill drilling at AG Core.

“Intersections from our infill drilling program represent 50% of the top 10 assays at Abujar, including the project’s best results of 1.1 meters at 2,853 g/t gold.

“These gold assays are from the 11th batch of results from the infill drilling program, which was designed to convert indicated resources to measured resources, which are expected to be mined within the first two years of production.

“We are incorporating the results into the resource model update, scheduled for the end of this quarter.”

Next steps

Tietto is awaiting the results of another 25 drill holes, covering 5,691 meters, from the Abujar gold zone.

Meanwhile, six diamond drill rigs continue to turn the ground, with 100,000 meters of drilling activity planned to drive resource growth.

Overall, the intersections move Tietto closer to gold producer status on the Ivory Coast property.

Recently, a definitive October feasibility study outlined Abujar’s strong financials, estimating that it would produce 1.2 million ounces of gold over the six years of its 11-year lifespan.

The project has a net present value (NPV) of $1.3 billion at a 5% rate of return before tax, and an NPV of $0.97 billion at the same rate after tax, based on a gold price of US$1,700.

Wang continued, “We are fully funded for production at Abujar, which has the potential to be one of the largest gold producing mines in Ivory Coast, expected to produce over 260,000 ounces of gold. the first year and 1.2 million ounces of gold. gold in the first six years.

“We are well placed to execute our dual strategy in 2022; our exploration team recently began drilling 100,000 meters of diamond core this year to drive resource growth, and our construction team is advancing construction work on schedule as we develop the Abujar gold project in West Africa’s next gold mine by the end of Q4 2022.”

Share.

Comments are closed.