ASX-listed aspiring West African gold developer, Tietto Minerals has rolled out another uber-impressive set of gold intercepts from recent drilling at its core Abujar-Gludehi deposit at its three-million-ounce plus Abujar gold project in Côte d’Ivoire. The best result from diamond drilling was 7 metres going almost an ounce to the tonne gold from 125m including a head-turning 2m hit going 102.39 grams per tonne gold.
The latest drilling campaign at Abujar-Gludehi, or “AG” included several other results that give cause for pause. The next best hit was 8m at 5.95 g/t gold from 79m and included a 6m intercept going 7.82 g/t gold.
Other notable intersections were 7m at 2.13 g/t gold from 48m that included a 3m hit going 4.5 g/t gold. Some of the longer hits included 11m at 1.25 g/t gold from 163m.
The results from Tietto’s fourth round of infill drilling included nine holes totalling 1,681m from a massive 30,000m campaign on a 25m line spacing. The company says the campaign is intended to shore up its mineral resource estimate and promote Abujar’s indicated resources to measured status.
Tietto is now awaiting assay results from 80 holes totalling 15,684m. It says the campaign’s remaining 1,287m of infill drilling is expected to be completed by months end and the results from the program will be plugged into a revised resource update scheduled for the final quarter of 2021.
These impressive results follow hard on the heels of our DFS earlier this month that confirmed Abujar’s potential to be one of the largest gold producing mines in Côte d’Ivoire with more than 260,000 ounces of gold expected to be produced in the first year and 1.2M ounces of gold in the first six years.
These results validate our strategy of using our own diamond drill rigs drilling at 10,000m a month to deliver a constant flow of high‐grade gold intercepts from within AG Core.
Tietto Managing Director, Dr Caigen Wang
The company is seemingly ticking all the right boxes after a recently completed definitive feasibility study that contained some off-the-chart numbers.
Results from the study indicated Tietto stands to make over $2 billion in EBITDA over the initial 11-year life of the Abujar gold mine. Remarkably, the company has an estimated pre-tax net present value on the project of $1.3 billion.
Tietto says it will have punched out an extraordinary 100,000m of diamond drilling by year’s end – an opportunity most explorers would not have available to it.
Tietto however is in the fortunate position of owning its own fleet of drill rigs and it says it can put down a metre of drilling for just US$35.
With the company continuing to rack up a conga line of bonanza gold-hits and eyeing off a further expansion of resources at its Abujar gold project, Tietto looks to be heading into 2022 with the wind at its back. The aspiring gold producer continues to deliver a seemingly endless array of exceptional gold intercepts whilst it builds on its potentially world-class discovery in Côte d’Ivoire.