Tietto Minerals hits 25 g/t within 6 metres at 6.27 g/t as it builds on 3-million-ounce Abujar gold resource

Tietto Minerals Ltd (ASX:TIE) continues to add high‐grade gold intercepts at the 3-million-ounce Abujar Gold Project with latest results of up to 1-metre at 25.19 g/t within 6 metres at 6.27 g/t from 389 metres. This intersection in diamond hole ZDD410 at the Abujar-Gludehi (AG) deposit was within 14 metres at 2.94 g/t from 384 metres and demonstrates the gold mineralised system’s potential for continued growth.  Tietto is on track to become West Africa’s next gold producer as it develops Abujar, with pre-feasibility studies (PFS) and definitive feasibility studies expected this year. The company has received assays from seven of 28 holes drilled in the 28,000-metre infill program with more assays pending. Other results include: 2 metres at 8.82 g/t from 48 metres including 1-metre at 17.17 g/t; and 7 metres at 3.68 g/t from 63 metres including 5 metres at 4.88 g/t. “Results correlating well" Tietto managing director Caigen Wang said: “I am pleased to report further high‐grade intervals at AG with ZDD410 delivering 6 metres at 6.27 g/t gold from 389 metres part of our 28,000 metres infill program scheduled to finish in mid‐April 2021. “It is a good result, correlating well with the drilling above and below. “The infill drilling was designed to target inferred material in the current resource model, which is on track for an update in May 2021. “The updated model will be used to underpin the DFS which is due in Q3 2021.  “Work on the PFS continues and we expect to report the results and a maiden reserve towards the end of the current quarter.” Shares have been more than 5% higher this morning to A$0.415 and Tietto’s market cap is approximately $172.9 million. Diamond drilling progress   Tietto’s current Abujar JORC mineral resource of 3.02 million ounces include resources from three deposits hosted within the central corridor. The company is undertaking 70,000 metres of systematic diamond drilling across its tenure designed to grow existing resources and test new prospects identified by its exploration team. This diamond drilling program includes 28,000 metres of infill drilling and 2,500 metres of geotechnical drilling. Tietto now has six company-owned and operated drill rigs working round the clock at Abujar on these drill programs and anticipates completing the infill drilling program by mid-April 2021. Assays and geological information from this program will be used for a fifth resource model update,  due for delivery by end of May 2021, and for mine scheduling studies in the DFS due in the third quarter of 2021. Infill drilling at AG resource Tietto has completed 28 holes for 7,134 metres of the 28,000-metre infill program at AG. Assay results from 7 holes of the 28 holes drilled have intersected high-grade gold mineralisation, which remains open along strike and at depth. Tietto plans to drill more holes along strike at AG, as well as further step-back drilling to test the depth limits of this large high-grade gold system. Next steps The company remains well-positioned to advance its dual strategy in 2021 which include aggressive exploration at Abujar to drive rapid resource growth and it includes:  70,000-metre diamond drilling program using Tietto’s six rigs drilling at US$35/metre; Drill testing 8.5 kilometres of fertile Abujar main shear along strike from AG and APG; Drill testing high priority regional targets; and Artisanal workings dotted along 70 kilometres mineralised corridor. Fast-tracking development Its strategy involves fast-tracking development of the Abujar Gold Project by taking various steps including; Growing 3.02-million-ounce gold open pit opportunity;  Feasibility studies underway ‐ PFS in Q1 2021 and DFS expected Q3 2021; A clear pathway to development – mining licence granted and ESIA approved COO started February 1, 2021; and Positioned to deliver on project milestones with more than A$57 million in cash.