The magic 1 million ounce mark is within reach for gold explorer Tietto Minerals
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Explorer Tietto Minerals (ASX:TIE) is expecting a “significant” resource update following a number of high-grade gold hits at its Abujar Gludehi (AG) deposit in Côte d’Ivoire, West Africa.
These included 2m grading 51.14 grams per tonne of gold, 70m from surface.
The company says there’s gold mineralisation they haven’t tested going out in all directions.
The deepest intercept is now 190m beneath the current inferred resource of 10.4Mt @ 2.1g/t Au for 703,600 ounces.
These results will be incorporated in a mineral resource upgrade, expected late in the current quarter.
The explorer is now at the point where it will start delivering major increases in the size of the AG resource, Tietto non-exec director Mark Strizek tells Stockhead.
Tietto would like AG to be sitting north of 1 million ounces — at least – after this quarter’s upgrade.
“We currently have 700,000oz of inferred; we have a target to try and double it,” Mr Strizek says.
There’s a strike length of 300m where the explorer has returned multiple intercepts of between 30 to 50g/t metres, Mr Strizek says.
“We see an open pit, then a crossover into a potential underground [operation],” he says.
“The numbers we’ve had to date are at a level where it would support an underground operation. Very, very encouraging.”
Cote d’Ivoire is one of the premier exploration and mining places in Africa to go to, African Gold (ASX:A1G) executive director Steve Parsons told Stockhead at the RIU Explorers Conference in Fremantle, WA.
Mr Strizek agrees.
“Before he jumped ship to join Barrick, [former Randgold Resources chief] Mark Bristow said it’s the best country for exploration and I think that still holds true,” he says.
“It’s a fantastic place, especially when you consider the potential for discoveries; it’s still so underexplored,” he says.
“It’s a good jurisdiction. We had great meetings at Indaba [mining conference] with the minister.
“They want to develop the industry. They have a good mining code and a good fiscal regime to attract that attention.”
Tietto Managing Director Dr C