Abujar Gold Project, Côte d’Ivoire
The Abujar Gold Project is located approximately 30km from the major regional city of Daloa in central western Côte D’Ivoire. It is close to excellent regional and local infrastructure to facilitate exploration and development being only 15km from nearest tarred road and grid power. The Abujar Gold Project is comprised of three contiguous tenements with a total land area of 1,114km2, of which less than 10% has been explored. It features an NNE‐orientated gold corridor over 70km striking across three tenements.
In April 2021, Tietto announced results of the Abujar Gold Project Pre-Feasibility Study (PFS) for an open-pit 3.5Mtpa operation. Highlights included:
- Forecast annual production of 200,000 ounces gold in first year of production; more than 168,000 ounces per annum over the first 6 years of project;
- Maiden Open Pit Probable Reserves of 15.7Mt ROM at 1.7 g/t Au for 860,000oz (over 65% conversion of Indicated Resources)
- LOM mining inventory inclusive of Ore Reserves of 22.9Mt ROM at 1.5 g/t Au for 1.1Moz at Average All‐in Sustaining Costs (AISC) of $839/oz
- 2.8-year pay back from commencement of construction on $230 million capex (including pre‐production mining and contingency)
- Strong economics ‐ pre‐tax NPV (5%) of $363M, IRR 53% and post‐tax NPV (5%) of $266M, IRR 42% based on an average gold price of US$1506/oz.
Full details are available in the Abujar PFS announcement.
Tietto expects to deliver a Definitive Feasibility Study (DFS) for Abujar in Q3 CY2021.
Plans for 2021
Tietto’s plans to aggressively expand the Abuja resource in 2021 include:
- 70,000m diamond drilling program using Tietto’s 6 DD rigs drilling at US$35/m
- Drill testing 8.5km of fertile Abujar main shear along strike from AG and APG
- Drill testing high priority regional targets
- Artisanal workings dotted along 70km mineralised corridor
The next Mineral Resource Estimate update is planned for Q3 2021.