Investors are starting to get excited about Tietto Minerals’ gold deposit in West Africa
Link copied to
Tietto Minerals (ASX: TIE) appears to be having a good time exploring its Bujar Gludehi (AG) gold deposit in Côte d’Ivoire, West Africa.
The company had more good news for market this morning, announcing the discovery of more high-grade finds.
The latest drilling finds include 36m at shallow depths with a grading of 4.4g/t, after the company reported another set of solid drilling results in late February.
Shares in Tietto were up more than 30 per cent approaching midday trade at 12.5 cents per share.
Tietto is due to issue an official Mineral Resources upgrade at its Bujar site by the end of March. And based on the recent share price gains, the current string of positive drilling announcements is getting investors excited.
The company’s 36m find in today’s announcement “is a high impact result that will be incorporated into the pending resource update, to build on our existing Mineral Resource of more than 700,000 ounces of gold,” Tietto MD Dr Caigen Wang said.
The latest drilling operations also uncovered a 1m “bonanza” grade deposit at 103g/t.
Wang said it further consolidates the company’s view that the Bujar site offers a coherent zone with mineralisation of 3.5g/t at shallow depths, that will be well suited to an open-cut mine.
For now, the company says it still has plenty of exploring to do.
“Drilling operations continue on site as we test strike and depth extensions which have the potential to significantly grow the gold resources at Abujar, where the majority of 70km of fertile gold structures remain to be tested,” Wang said.
In addition to its March-quarter mineral resources announcement, Tietto said it plans to provide another resources update before the end of the year.