Tietto is focused on fast-tracking the development of the Abujar Gold Project in Côte d’Ivoire, West Africa, targeting first gold in Q4 CY2022.
In October 2021, Tietto completed the Abujar Gold Project Definitive Feasibility Study (DFS) 4Mtpa open pit operation. Highlights included:
- 260,000oz gold forecast in first year of production (30% increase over the PFS) at an AISC of US$651/oz
- 2Moz of gold production forecast over first six years for 200,000oz per annum (20% increase over the PFS) at an average AISC of US$804/oz
- Updated Open Pit Probable Ore Reserves have grown to 34.4Mt at 1.3 g/t Au for 1.45Moz using US$1,407/oz (68% increase over the PFS and 78% of Indicated Mineral Resources)
- Life of Mine (LOM) mining inventory inclusive of Ore Reserves of 44.9Mt at 1.2 g/t Au for 1.7Moz gold recovered (54% increase over the PFS) for a strip ratio of 6:1 w:o
- Payback period post-tax of less than 1 year from first production.
Following an aggressive drilling campaign, in July 2021 Tietto announced an increase in its Abujar Mineral Resource Estimate to 87.5Mt @ 1.2 g/t Au for 3.35Moz including:
- AG mineral resources total 50.3Mt @ 1.5 g/t Au for 2.45Moz (+7% oz Au)
- APG mineral resources total 36.7Mt @ 0.7 g/t Au for 0.87Moz (+24% oz Au)
These results boost the Abujar Indicated Resources by 49% to 43.4Mt @ 1.3 g/t Au for 1.85Moz of contained gold, representing more than 55% of the Abujar project ounces.
Tietto has a 50,000m diamond drilling program underway targeting de-risk and resource growth using its fleet of six diamond drill rigs. The program includes:
- Infill drilling at AG targeting first two years of production.
- Resource growth from drill testing of targets located within 10km radius of proposed AG mill.
- Drill testing high priority regional targets.
Tietto is rapidly advancing Abujar development with an early work program including front end engineering and design (FEED) and site and camp construction underway.
Tietto is on track to deliver first gold at Abujar in Q4 2022.