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Tietto onto more high-grade West African gold

Tietto Minerals has served up another lovely set of numbers from a recent drilling campaign at its core Abujar-Gludehi deposit in Africa where it is already sitting on a three-million-ounce plus gold resource. The pick of the bunch from the latest diamond drilling was an 8 metre hit going 12.43 grams per tonne gold from 187m including a 2m intersection grading an impressive 48.37 grams per tonne gold.

The all-star cast of drill hits from Tietto’s latest campaign at Abujar-Gludehi, or “AG” included several other head turners. The roll call includes a 12m hit grading 6.1 g/t gold from 208m which included a 10m intercept going 7.15 g/t gold.

Other notable intersections were 9m at 6.97 g/t gold from 227m that included a 6m hit going 10.07 g/t gold. One of the longer hits was an 18m intersection at 4.36 g/t gold from 214m that included 3m grading 18.25 g/t gold.

The recent suite of results are courtesy of Tietto’s fifth round of infill drilling that included 12 holes totalling 2,526m from an immense 30,000m plus campaign on a 25m line spacing. The company says the campaign is intended to bolster its mineral resource estimate and elevate Abujar’s indicated resources to measured.

The aspiring gold producer is now eagerly awaiting assay results from 99 holes totalling 19,312m and Tietto anticipates it will have its hands on these results later this month.

Our fifth batch of results from our infill drilling program at Abujar is delivering up more high‐grade gold intercepts that continue to de‐risk open pit mining at Abujar. The infill program is designed to convert Indicated Resources to Measured Resources, which are scheduled to be mined within the first two years of production.

The company doesn’t look to be letting up on its frenzied drilling across the Abujar gold project in Côte d’Ivoire, with diamond drilling continuing ahead of its next resource update that is earmarked for the new year.

Tietto’s West African exploits haven’t gone unnoticed either, with the company earlier this week being bombarded with project funding proposals as it shifts towards the construction phase of its Abujar gold project. According to the company, a potential financier is expected to be selected next month and with multiple offers of up to $180 million on the table, the company has plenty of options.

The company looks to have plenty to work with amid a recently completed definitive feasibility study that indicated Tietto could pocket over $2 billion in EBITDA over the Abujar gold mine’s initial 11-year life. Notably, the company says its project has an estimated pre-tax net present value of $1.3 billion.

With gold continuing to trade at very profitable levels and Tietto continuing to hit paydirt in West Africa, the company has already extracted itself from the swamp of nano-cap wanna-be’s and is now in real danger of making that elusive leap to producer.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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