Tietto Minerals Ltd has recorded a project-best intersection of 1.1 metres at 2,853 g/t gold within 25.37 metres at 131.05 g/t during infill drilling on the main Abujar shear at its 3.35-million-ounce Abujar Gold Project.
The West African gold explorer and developer’s Managing Director, Caigen Wang announced the bonanza-grade gold results at the Abujar-Gludehi (AG) Deposit, part of the 3.35-million-ounce project in Côte d’Ivoire.
“This fantastic intercept of 1.1 metres at 2,853 g/t gold from our infill drilling program at AG is our best achievement to date. This bonanza gold intercept is located close to the surface in fresh mineralisation and combined with the multiple high-grade intercepts we have reported from our infill drilling, it is expected these will have a material impact on the first years of open pit mining at Abujar,” Caigen Wang said.
Diamond hole ZDD895 is part of Tietto’s recently completed AG Core infill drilling, a program set up to convert Abujar’s indicated resources – currently 35 million tonnes at 1.5 g/t for 1.65 million ounces – to a measured resource. The company is targeting the project’s first two years of gold production.
In February, Tietto expects assay results for 61 drill holes (9,329 metres). Until then, six diamond drill rigs continue actively drilling. The next resource update is due at the end of the first quarter of the year.
The company’s definitive feasibility study (DFS) for Abujar has demonstrated robust financial results and estimated first-year gold production of 260,000 ounces and 1.2 million ounces over the first six years of Abujar’s 11-year mine life for a net present value of $1.3 billion pre-tax and $0.97 billion post-tax using US$1,700 per ounce and a conversion rate of 74 US cents in the dollar.