TIETTO MINERALS LIMITED Tietto Minerals Ltd
Unit 7, 162 Colin Street Perth, WA 6005
Tel: +61 8 9420 8270
Web: www.tietto.com
21 July 2022
Tietto hits up to 144.34 g/t gold in AG Core infill drilling at Abujar
Highlights:
Tietto adds more shallow high‐grade gold intercepts from infill drilling (25m spacing) at AG Core on
only | the main Abujar Shear at its 3.45Moz Abujar Gold Project; results include: |
1.72m @ 61.27 g/t Au from 9m incl. 0.72m @ 144.34 g/t Au (ZDD1192A - Section 25A) | |
22m @ 1.3 g/t Au from 34m incl. 1m @ 11.15 g/t Au (ZDD1222 - Section 28C) | |
2m @ 9.2 g/t Au from 33m incl. 1m @ 16.63 g/t Au (ZDD1194 - Section 25A) | |
| Latest results received from AG Core infill drilling (30 DD holes for 3,063m), part of an expanded |
use | program targeting delineation of Measured Resources (over 2.9km) expected to be mined during the |
first two years of Abujar gold production | |
| Assays pending for infill holes (38 DD holes for 7,095m) drilled at AG Core and AG South |
| Tietto's six diamond rigs are actively drilling, with more than 100,000m of drilling forecast in CY22 |
| Abujar DFS demonstrated robust financial results and estimated first‐year gold production of |
personal | 260,000oz and 1.2Moz over the first six years of Abujar's 11‐year mine life for an NPV5% of A$1.3B |
(pre‐tax) and A$0.97B (post‐tax) using US$1,700/oz Au and A$/US$=0.741 | |
Updated Abujar LOM production plan on track for delivery early Q3 CY22 Abujar gold plant construction is on target for first gold in Q4 CY22
Construction at Abujar Gold Project is fully funded with no debt.
West African gold explorer and developer Tietto Minerals Limited (ASX: TIE) (Tietto or the Company) is leased to report further shallow high‐grade gold results from infill drilling completed at AG Core, part of
its 3.45Moz Abujar Gold Project in Côte d'Ivoire, West Africa.
ForTietto Managing Director, Dr Caigen Wang, said: "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.
"These latest results are from an expanded infill drilling program aiming to grow our Measured Resources over a 2.9km strike between Section Lines 0 to 29 at AG Core and AG South, as we expect to mine these areas during the first two years of Abujar gold production.
- Refer ASX Announcement dated 5th October 2021
Tietto Minerals Ltd
Unit 7, 162 Colin Street Perth, WA 6005
Tel: +61 8 9420 8270
Web: www.tietto.com
"Our exploration team is in the process of moving four of our DD rigs to test exploration targets on the main Abujar Shear, which remains still largely untested, and undertake new resource definition drilling.
only"We are fully funded to production at Abujar, which has potential to be one of the largest gold producing mines in Côte d'Ivoire, with an expected production of 260,000 ounces of gold in the first year and 1.2M ounces of gold in the first six years.
"Tietto has an experienced team on board to deliver Abujar on time and on budget. We are on track to deliver another mineral resource update this year. Shareholders can also expect further updates from our aggressive diamond drilling program as we advance our dual strategy of 'Drill and Build' and develop our Abujar Project into West Africa's next gold mine, with first gold by the end of Q4 CY22."
useInfill Drilling - AG Core
Tietto is pleased to report the latest batch of assay results (30 DD holes for 3,063m) from infill diamond drilling at AG Core. Tietto designed this program to convert Indicated Resources at AG Core into Measured Resources in the next MRE update expected later this year. Best intersections received from 1m diamond personaldrill samples are summarised in Table 1. Drill collar details and assay results are in Table 3 and Table 4 respectively. Locations of the reported drill Forcollars and associated assay results are presented in Figure 3. An oblique cross‐section highlighting selected assay results is presented in Figure 4 and an oblique long section presents the results in Figure
5.
Drilling has intersected good widths and grades in assays received to date with these new results, increasing the tally to 81 intervals greater than 50 gold gram metres, including 15 intervals greater than 200 gold gram metres at AG Core (Table 2).
-
0.4 g/t Au cut off used with max 3m internal dilution and no top cut applied
3 1.0 g/t Au cut off used with max 3m internal dilution and no top cut applied
Tietto Minerals Ltd Unit 7, 162 Colin Street Perth, WA 6005 Tel: +61 8 9420 8270 Web: www.tietto.com
For personal use only
Table 2: AG Core ‐ significant intersections greater than 50 gold gram metres4 | ||||||
Hole id | From | To | Length | g/t Au | gold gram metres | Section |
ZDD895 | 38 | 46 | 8 | 393.59 | 3,149 | 14B |
ZDD866 | 83 | 93 | 10 | 51.75 | 518 | 29A |
ZDD035 | 76 | 83 | 7 | 57.79 | 405 | 26B |
ZDD894 | 31.6 | 34 | 2.4 | 153.49 | 368 | 17A |
ZDD084 | 55 | 62 | 7 | 41.76 | 292 | 24B |
ZDD685 | 54 | 56 | 2 | 143.77 | 288 | 25A |
ZDD687 | 69 | 85 | 16 | 17.60 | 282 | 19C |
ZDD095 | 215 | 236 | 21 | 13.02 | 273 | 23B |
ZDD043 | 111 | 127 | 16 | 16.31 | 261 | 27C |
ZDD1104 | 84.32 | 93 | 8.68 | 27.61 | 240 | 26 |
ZDD082 | 83 | 85 | 2 | 113.30 | 227 | 26 |
ZDD696 | 125 | 132 | 7 | 30.67 | 215 | 25A |
ZDD028 | 39 | 57 | 18 | 11.72 | 211 | 28B |
ZRC171 | 238 | 244 | 6 | 34.17 | 205 | 20 |
ZDD1113 | 35 | 40 | 5 | 40.14 | 201 | 28 |
ZDD333 | 173 | 194 | 21 | 8.73 | 183 | 25B |
ZDD895 | 50 | 62 | 12 | 14.61 | 175 | 14B |
ZDD870 | 38 | 43 | 5 | 33.86 | 169 | 26A |
ZDD1152 | 42 | 52 | 10 | 16.60 | 166 | 17 |
ZDD859 | 37 | 47 | 10 | 16.53 | 165 | 28C |
ZDD027 | 70 | 88 | 18 | 8.37 | 151 | 29 |
ZDD1172 | 251 | 263 | 12 | 12.39 | 149 | 22 |
ZDD437 | 203 | 208 | 5 | 28.91 | 145 | 19 |
ZDD899 | 64 | 76 | 12 | 11.99 | 144 | 14C |
ZRC172 | 108 | 128 | 20 | 6.56 | 131 | 19B |
ZDD445 | 120 | 149 | 29 | 4.46 | 129 | 16B |
ZDD665 | 97 | 119 | 22 | 5.62 | 124 | 24A |
ZDD180 | 286 | 296 | 10 | 12.09 | 121 | 20B |
ZDD058 | 179 | 186 | 7 | 15.50 | 109 | 25 |
ZDD596 | 85 | 88 | 3 | 35.65 | 107 | 28A |
ZDD1192A | 9 | 10.72 | 1.72 | 61.27 | 105 | 25A |
ZDD061 | 254 | 255 | 1 | 103.90 | 104 | 22 |
ZRC188 | 70 | 72 | 2 | 51.14 | 102 | 20B |
ZDD685 | 61 | 67 | 6 | 17.01 | 102 | 25A |
ZDD074 | 174 | 176 | 2 | 50.65 | 101 | 22B |
ZDD703 | 187 | 195 | 8 | 12.43 | 99 | 23C |
ZDD232 | 370 | 382 | 12 | 7.54 | 90 | 24B |
ZRC164A | 268 | 286 | 18 | 4.90 | 88 | 19 |
ZDD617 | 66 | 73 | 7 | 12.48 | 87 | 25C |
ZDD1114 | 55 | 70 | 15 | 5.79 | 87 | 28A |
ZDD096 | 173 | 178 | 5 | 17.27 | 86 | 23B |
ZDD734 | 83 | 90 | 7 | 11.87 | 83 | 22C |
ZDD704 | 214 | 232 | 18 | 4.36 | 78 | 18C |
ZDD081 | 78 | 94 | 16 | 4.75 | 76 | 25 |
ARC17 | 48 | 58 | 10 | 7.46 | 75 | 17B |
ZDD703 | 208 | 220 | 12 | 6.10 | 73 | 23C |
ZDD730 | 91 | 96 | 5 | 14.44 | 72 | 18C |
- 0.4 g/t Au cut off used with max 3m internal dilution and no top cut applied
onlyuse
personalTietto has planned further drilling at AG Core to assess the potential below the planned DFS open pit and test the limits of gold mineralisation, which is still open at depth. For
Tietto Minerals Ltd
Unit 7, 162 Colin Street Perth, WA 6005
Tel: +61 8 9420 8270
Web: www.tietto.com
Next Steps
Tietto completed a A$130 million two‐tranche placement to accelerate development of Abujar, with no onlydebt. The placement allowed the participation of like‐minded investors, keen for the Company to realise
first gold production by Q4 CY22 and produce 260,000oz gold in 2023.
Tietto remains very well positioned to advance its dual strategy of 'Drill and Build' throughout 2022:
- Continue to drive rapid resource growth at the 3.45Moz Abujar Gold Project; and
- Fast‐track development of Abujar Gold Project to achieve first gold in Q4 CY22.
useTietto continues to deliver project milestones; with Abujar's maiden Measured gold resources of 7.7Mt @ 1.4 g/t Au for 350,000oz reported on 11 April 2022.
Tietto will deliver an update on Abujar's LOM production plan in early Q3 CY22 using the updated Mineral Resource Estimate, increased mill throughput and higher gold prices (spot price is +35% greater than US$1407/oz used in the DFS5 ), targeting a material increase to existing LOM production. Tietto has expanded this to incorporate a scoping study to determine the economic benefits of a heap leach operation at APG running in parallel to the Abujar CIL operation.
Tietto is advancing construction of the processing plant and associated infrastructure, which remains on schedule. Abujar Gold Project is progressing towards first gold pour by the end of Q4 CY22 and is on track to become West Africa's next producing gold mine.
ENDS | |
This update has been authorised on behalf of Tietto Minerals Limited by: | |
Dr Caigen Wang | Mark Strizek |
Managing Director | Executive Director |
Tel: +61 8 9420 8270 | Mob: +61 431 084 305 |
personal |
Competent Persons' Statements
The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Mark Strizek, a Competent Person who is a Member or The Australasian Institute of Mining and Metallurgy. Mr Strizek is a non‐executive director of the Company. Mr Strizek has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a Competent ForPerson as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Strizek consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Additionally, Mr Strizek confirms
that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.
The information in this presentation that relates to Mineral Resources was prepared by RPM Global and released on the ASX platform on 11 April 2022. The Company confirms that it is not aware of any new information or data that materially affects the Minerals Resources in this publication. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the RPM Global's findings are presented have not been materially modified.
The information in this report that relates to Mineral Resources is based on information evaluated by Mr Jeremy Clark who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Clark is an associate of RPM and he consents to the inclusion of the estimates in the report of the Mineral Resource in the form and context in which they appear.
- ASX 5 October 2021
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Tietto Minerals Ltd. published this content on 20 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2022 22:33:02 UTC.
