Growing a multi-million ounce gold resource at our Abujar Gold Project in Côte d’Ivoire

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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  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
  • 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.

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