Perth-based gold developer Tietto Minerals has swept up yet another set of high-grade gold intercepts from a rolling infill diamond drilling campaign at its 3.45-million-ounce Abujar project in Cote d’Ivoire, West Africa. The assay results from 30 holes plunged at the company’s AG Core deposit includes 0.72m running a cracking 144.34 grams per tonne gold from 10m or more than 5 ounces gold to the tonne from inside a larger 1.72m section at 61.27 g/t gold from 9m.
Another notable strike went 2m at 9.2 g/t gold from 33m with a higher-grade 1m parcel at 16.63 g/t gold from 34m.
One of the longer hits ran 22m and teased out a 1.3 g/t gold grade with a richer 1m inclusion at 11.15 g/t gold from 40m.
The latest batch of results form part of an extended campaign that will see the Perth-based company vector in on a raft of gold-bearing targets across a 2.9km patch between its AG Core and nearby AG South deposits. Tietto believes the strategic drilling could add to its stockpile of measured resources and it expects to mine the targets in the first two years of gold production at the site.
Assays are still pending for an additional 38 holes totalling more than 7000m from programs at AG Core and AG South.
The company is putting the finishing touches on the construction of an open-pit mine at the site and says on completion it could be one of the region’s biggest gold producing assets – churning out 260,000 ounces in its first year and 1.2 million ounces during the first six.
Unlike its peers, the company lays claim to half a dozen diamond rigs and has been peppering its West African tenure ahead of a maiden gold pour earmarked for the back end of the year.
Management has put together a “drill-and-build” strategy to continue its exploration blitz whilst it completes construction of the mine. Plans are in place to drill more than 100,000m by year’s end using the company’s six diamond rigs.
The economics for the project appears enviable, with a recent definitive feasibility study at the operation suggesting Abujar has a pre-tax NPV of $1.3 billion under a gold price of US$1700 per ounce.
Our infill drilling continues to add more shallow high‐ grade gold intercepts to AG Core. These intercepts provide confirmation of the continuity of these plunging high‐grade shoots from close‐spaced 25m drilling.
Importantly, Tietto Minerals’ project is fully funded to production, thanks to an overwhelmingly positive funding campaign and strong cash reserves.
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