Page 54 - pd309-Oct22-mag-web-Neat

ADU ReVIeW

Tietto stays light on its feet

head of the first gold pour at its Abu- $49.3 million in early September to con- January of 2018 and we grew the resource
Ajar gold mine in Cote d’Ivoire in De- tribute to a war chest approaching $300 to 3.45 moz.
cember, Tietto managing director Caigen million in total. “From February to now, we drilled quite
Wang said the company’s greatest “It is the best way for us to build the a lot, so we are expecting another re-
strength was remaining debt-free during mine,” Wang said. “As of now, we can say, source upgrade later this year.”
construction of the 3.45 moz project. that we are at a peak construction stage.” Recent infill drilling proved to intersect a
“We don’t have any debt,” Wang proudly Abujar is expected to produce 1.2 moz project-best hit of 1.1m @ 2,853 g/t gold.
told delegates at Africa Down Under. “We gold over its first six years for 200,000 September’s raising will also not only go
are at the late stage of building the Abujar ozpa at AISC of $804/oz. First gold is to towards reaching first production, but to-
gold mine.” occur by the end of December and the wards funding the drill rigs as well.
Abujar’s construction has been support- mine will be an open pit operation sup- “These funds will be used to accelerate
ed by a litany of capital raisings, including ported by a 4.5 mtpa CIL plant. studies of the potential heap leach project
Tietto also has plans to release another and expanded exploration drilling with our
resource update later this year as it con- growing fleet of eight diamond rigs,” a mar-
tinues infill drilling up to 10,000m of dia- ket release from Tietto read.
mond core each month. Abujar currently An update from Tietto later in Septem-
consists of three resource areas across a ber also said Abujar’s construction was on
1,100sq km landholding. schedule and budget.
Wang explained that no explorers lay “We have a unique capacity to grow the
foot on the region before Tietto brought resource and thank you to our sharehold-
the drill rigs with it in 2014, making use of ers to keep us debt free to build the mine
untapped mineralisation. and thanks to the team to build the mine,”
“We arrived first in this region, we have Wang said.
gathered the resource very rapidly,” he
said. “Our maiden resource of 700,000oz – Fraser Palamara
was delivered in 2016, we did our IPO in

Caigen Wang

Turaco soars a year on

tepping up to the podium at Africa already got a very long strike extent that
SDown Under, Turaco Gold Ltd manag- we’ve drilled, but we think this is only a frac-
ing director Justin Tremain couldn’t help but tion of what this discovery will be and will
reminisce about his last appearance at the emerge over the next six months.”
event. West Africa’s attractive fundamentals –
“It was about this conference a year ago, including political stability, encouraging tax
we announced the acquisition of a portfolio regime and prospective geology – has giv-
of land in Cote d’Ivoire, just over 7,000sq en much success for expat gold developers
km,” he said. “About two-thirds of that is over recent years. Justin Tremain
granted ground we’ve been actively drilling Much of this geology is birthed from the
on over the last 12 months. Birimian greenstone belt which extends from 24m and 10m @ 2.44 g/t from 35m.
“We are a very active explorer. In the through Cote d’Ivoire, Guinea, Ghana and “That’s just one structure,” Tremain ex-
June quarter just gone, we completed over Burkina Faso. plained. “We’ve recently completed an IP
40,000m of drilling and that followed about “The Birimian has yielded over 70 plus-1 survey over the 4.5km auger anomaly and
20,000m of drilling… we’re arguably one of moz gold discoveries,” Tremain said. “In our that IP survey is still being processed, but
the most active explorers in the world and view, there’s no better place to be looking that is showing the potential for several sub-
well-funded to do that.” for plus-1 moz gold discoveries in the world parallel structures here which we are yet to
Turaco’s time has been kept busy with than in West Africa.” test.
the Tongon North, Ferke, Boundiali and Eburnea itself is along strike from En- “Following that success, we immediately
Eburnea projects, the latter which Tremain deavour Mining Corp’s 2.5 moz @ 2.5 g/t commenced a RC programme in March
describes as the company’s flagship pro- gold Fetekro project which is currently un- of this year and that has run through until
ject. He is confident the busy drilling can dergoing a feasibility study. June/July.
amount to a quick maiden resource. Recent drilling at Eburnea indicates the “This Eburnea project is emerging as our
“We’ll recommence drilling here in Oc- main mineralised trend remains open to the flagship project, we’ve just recently finished
tober/November after the wet season and north and south with encouraging hits from drilling there so we’ll have more results to
hopefully put out a maiden resource on a recent aircore programme, including 5m release shortly.”
this sometime next year,” he said. “We’ve @ 5.96 g/t gold from 115m, 12m @ 3.8 g/t – Fraser Palamara

Page 54 OCTOBeR 2022 aUSTRaLIa’S PaYDIRT