Abujar Gold Project, Côte d’Ivoire
Tietto’s 3.45Moz Abujar Gold Project in western Côte d’Ivoire is West Africa’s newest gold mine, with first gold poured in January 2023 and 260,000oz gold production expected in its first year of operation.
Tietto has no debt with zero gold hedging. The Company is positioned to continue building its resource inventory at Abujar while ramping up gold production in 2023 as it:
- Continues to drive rapid resource growth at the Abujar Gold Project; and
- Increases the gold production profile of the Abujar Gold Project.
In October 2021, Tietto completed the Abujar Gold Project Definitive Feasibility Study (DFS) for an open-pit 4Mtpa operation. The DFS metrics were compelling and confirmed Abujar’s potential to be one of the largest gold producing mines in Côte d’Ivoire. The DFS demonstrated increased gold production compared to the earlier PFS with highlights including:
- 260,000oz gold forecast in first year of production at an AISC of US$651/oz
- 2Moz of gold production forecast over first six years for 200,000oz per annum 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
- Life of Mine (LOM) mining inventory inclusive of Ore Reserves of 44.9Mt at 1.2 g/t Au for 1.7Moz gold recovered for a strip ratio of 6:1 w:o
Abujar’s LOM plan is based on a Probable Ore Reserve of 34.4Mt at 1.3 g/t Au for 1.45Moz (82% gold production of the LOM Plan). The remaining 18% of gold production in the LOM plan are from Inferred Mineral Resources.
In addition, Tietto has opportunities to improve on DFS gold production by increasing project output via infill diamond drilling targeting the delineation of Measured Resources, deep drilling targeting underground potential below the ore reserve pit design at AG core, aggressive regional exploration drilling and APG heap leach potential, which is currently being assessed. Tietto expects to complete 120,000m of drilling in CY2023, with an Abjuar resource update expected in Q1 CY23.
Tietto’s 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.