Tietto is focused on fast-tracking the development of the Abujar Gold Project in Côte d’Ivoire, West Africa.
The current resource stands at 81.2 Mt @ 1.2 g/t Au for 3.02 Moz of contained gold. Tietto’s plans to aggressively expand this 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 Abujar Gludehi (AG) and Abujar Pischon and Golikro (APG)
- Drill testing high priority regional targets
- Artisanal workings dotted along 70km mineralised corridor
- A 28,000m infill drilling program designed to increase mineral resource confidence categories for a resource update planned for Q3 2021.
In April 2021, Tietto completed 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 9Mt ROM at 1.5 g/t Au for 1.1Moz2 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.
Tietto expects to deliver a Definitive Feasibility Study (DFS) for Abujar in Q3 CY2021.