Gold: Tietto, Metalicity speeding ahead with high-grade gold hits
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The gold hits are coming in fast and furious today with explorers Tietto Minerals, Bellevue Gold and Metalicity spruiking their high-grade results.
Tietto Minerals (ASX:TIE) continues to build up the potential for a start-up high-grade open pit operation at its Abujar gold project in Cote D’Ivoire with its ongoing drilling program delivering the latest suite of results that top up at an impressive 20m at 14.8 grams per tonne (g/t) gold from just 42m down-hole.
Along with a separate thick intersection of 82m at 3.14g/t gold from 26m, the results extend a zone of shallow, high-grade mineralisation at the Abujar‐Gludehi (AG) deposit.
“Since May 2019, we have almost doubled the number of +50 gold gram-metres to 31 intervals reporting greater than 50 gold gram‐metres,” Tietto managing director Caigen Wang said.
“We now have at least 500 metres of ultra‐high grade results (5 intervals >200 gold gram‐metres) from surface between Lines 24 and 29 at AG, suggesting potential for a high‐grade open pittable gold resource with robust project economics.”
The company has three of its own rigs plugging away at the AG deposit and expects to report an upgrade to the current resource in the current quarter.
Tietto has a 1.06 million ounce (Moz) resource at the AG deposit, which makes up a substantial part of the broader 1.7Moz resource at Abujar.
Shares in the company climbed almost 16% to 25.5 cents on the news.
Over in Western Australia, Metalicity (ASX:MCT) has completed a short drill program that has extended known mineralisation at the Kookynie project in the Eastern Goldfields.
Drilling at its Leipold target returned shallow hits of 9m at 7.31g/t gold from 34m and 4m @ 10.4g/t gold from 39m.
Shares in Metalicity were up 20% to 0.6 cents this morning.
Bellevue Gold (ASX:BGL)is also hitting it out of the park with broadly spaced reconnaissance drilling returning a tidy intersection of 3.8m at 13.9g/t gold from 667.1m at the Deacon discovery within its Bellevue gold project.
The deep Deacon discovery, which sits beneath the historical Bellevue mine, has now being defined over 1,700m by 260m and remains open in all directions.
Meanwhile, Hammer Metals’ (ASX:HMX) maiden drilling program at the Bronzewing South project has returned results of up to 10m at 2g/t gold.
The drill program tested five targets on mineralised trends south of the 2.3Moz Bronzewing deposit.
Calidus Resources (ASX:CAI) has also enjoyed success with its resource conversion drilling program confirming that mineralisation at the planned Klondyke open pit of its Warrawoona gold project in WA’s Pilbara region is wide and continuous.
Results of up 14m at 3.8g/t gold from a mere 1m down-hole, and 23m at 23g/t gold from 37m highlight the technical and economic strength of the planned open pit.