Tietto Minerals Limited (ASX:TIE) recently drilled up to 5 metres at 17.22 g/t gold at Abujar‐Gludehi (AG) deposit within its 2.2-million-ounce Abujar Gold Project in Côte d'Ivoire, West Africa.
The latest results, together with the recent strong intersections reported from outside the existing mineral resource at AG, are expected to result in a positive uplift in the next mineral resource estimate, which is on track for September 2020.
Perth and Hong Kong based investment house Argonaut has reiterated its Speculative Buy recommendation for Tietto with a 48 cents per share target price (current price: 41 cents).
The following is an extract from Argonauts research update:
Quick Read[hhmc]
Tietto Minerals (TIE) released further drill results for its Abujar Gold Project in Côte dIvoire. High grade intercepts from the Abujar‐Pischon‐Golikro deposit (APG) included
6m @ 4.6g/t Au from 229m, including 1m @ 24.4 g/t Au and 6m @ 2.7g/t Au from 83m. TIE should continue to generate ongoing positive newsflow throughout 2020 and 2021.
Event & Impact – Exploration Update – Positive[hhmc]
APG deposit growing: Recent high grade gold intercepts from the APG deposit included:
- 6m @ 4.6g/t Au from 229m, incl. 1m @ 24.4 g/t Au
- 6m @ 2.7g/t Au from 83m
APG has an existing Inferred Resource of ~350koz at 1.0g/t gold and is located 7km south of the main AG deposit (total Resource 1.8Moz at 1.6g/t gold). Ongoing drilling should deliver expansion both along strike, north and south, and at depth. These latest results extend mineralisation over a 900m strike and to 280m below surface.
Rapid Resource expansion set to continue: An aggressive drill campaign at the Abujar Project is ongoing with four Company owned and operated drill rigs currently on site. Since commencing drilling in early-2018, TIE has rapidly amassed a Resource of 2.15Moz. Argonaut expects the next Resource update, due Q3 2020, to surpass 3Moz contained gold. Key areas of focus include:
- AG deposit – Extending high‐grade core (currently 19.3Mt @ 2.2 g/t Au for 1.38Moz)
- AG South – Targeting shallow high‐grade gold mineralisation directly south of AG
- APG – Extension to shallow Resources 7km south of AG
- GGL (from AG to Gamina) – Directly north of AG with extensive artisanal workings
The Company is also testing geochemical gold anomalies on a parallel structure to the west with an aircore rig.
Newsflow rich: TIE will contiRead More – Source
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