Tietto Minerals TIE Abujar

Tietto Minerals (ASX:TIE) probably is a name just a handful of investors are aware of outside of Australia, but this company, which focuses on exploring for gold in Ivory Coast has done pretty well in the past few years as it outlined a total resource of just over 1.7M ounces of gold at its Abujar gold project in the country after publishing the most recent resource update last week, which incorporated the new drill results.

The total resource has an average grade of 1.4 g/t gold, but the AG zone also contains a higher grade zone of almost 16 million tonnes at an average grade of 2.1 g/t gold, containing 1.06 million ounces. This means Tietto is starting to tick some important boxes as its Abujar resource now has the size and the grade to be quite interesting from an economic point of view. Additionally, the current 1.7Moz resource is located on just 10% of the total size of the land package and Tietto is planning to embark on a 20,000 meter drill program with its own diamond drill rig this year and this should result in an additional resource upgrade by the end of this year.

With a 1.7Moz gold resource (and more to come), Tietto could become an interesting target for other Africa-focused groups.

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The author has no position in Tietto Minerals. Please read the disclaimer

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