ASX-listed aspiring West Africa gold developer, Tietto Minerals has continued to pile on the high-grade gold intersections from infill and extensional diamond drilling at its Abujar gold project in Cote d’Ivoire. The pick of the company’s latest spate of stellar gold drill hits was 7m going 6.23 grams per tonne gold including 1m at just shy of 40 g/t from 578m depth in the AG Core section of the project’s main AG deposit.
It follows hot on the heels of Tietto’s recent ultra-high grade gold intercepts at AG South, also within the cornerstone AG deposit, that came in at 5m grading an average 109.06 g/t gold from 99m depth including 1m at a gobsmacking 532.06 g/t gold.
Other notable intersections just reported were 4m at an average grade of 14.37 g/t gold from 536m at AG Core and 7m at 6.53 g/t from 90m at AG South.
While Tietto might be losing count of how many bonanza gold strikes it has racked up at AG recently, the company’s understanding and belief in the Abujar gold resource and the potential to lift AG ore reserves continues to grow.
Tietto has drilled 255 diamond holes totalling 53,395.5m across a clutch of deposits and prospects at Abujar since mid-September last year.
The key AG deposit has been peppered with 128 holes for an aggregate 31,480m.
A massive 100,000m of diamond drilling is planned this year to further test the fertile Abujar main shear for 8.5km along strike from the existing AG and APG deposits together with high-priority regional targets.
The company says it has now completed the infill drilling component of the current campaign and expects final assays in coming weeks.
Our infill drilling is increasing confidence in the mineral resource, confirming mineralisation at or above expectations as we close up the drill pattern to an indicated resource spacing.
Results from the infill program will be plugged into a revised Abujar mineral resource estimate that the company hopes to finalise by mid-2021.
Tietto then plans to undertake open-pit optimisation studies, which it anticipates will lead to a “material” increase in ore reserves.
The new reserves will be included in a definitive feasibility study on the proposed Abujar gold mining and processing operation that is earmarked for release in the September quarter this year.
Proved and probable reserves for AG currently stand at 15.7 million tonnes of ore grading 1.7 g/t gold for 860,000 ounces of contained gold within an estimated life-of-mine mining inventory of 22.9 million tonnes of ore at 1.5 g/t for 1.12 million ounces of contained gold.
Abujar hosts an overall indicated and inferred resource – including the reserves – of 81.2 million tonnes at 1.2 g/t for 3.02 million ounces of contained gold.
According to Tietto’s recently tabled pre-feasibility study on the Abujar project development, the new mine is tipped to spit out free cash flows before tax of $US509 million over an initial project life of 10 years based on gold production averaging 168,000 ounces per annum in the first six years.
All-in sustaining costs of production have been predicted to average $US839 an ounce and the pre-production capital cost has been forecast at about $US230 million.
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