Tietto Minerals’ gold resource growth has exceeded our total size expectation: Canaccord Genuity

The higher-grade core of the AG deposit has grown to 1.6 million ounces at 2.18 g/t gold which will underpin the pre-feasibility study (PFS) in the March quarter of 2021. Canaccord has retained its speculative buy recommendation. Tietto Minerals Limited ( ASX:TIE ) recently upgraded the overall gold resource at its Abujar project in central west Côte D’Ivoire, West Africa, by 40% or 870,000 ounces, to 3.02 million ounces with further resource growth likely due to continued strong drilling results.

The overall resource now stands at 81.2 million tonnes at 1.2 g/t for 3.02 million ounces, an increase from the previous estimate of 2.15 million ounces, and the all-in exploration cost is just US$5.20 per additional ounce.

Most of the increase comes from the Abujar-Gludehi (AG) deposit gold resource which has grown by 490,000 ounces to 2.3 million ounces at 1.5 g.t gold.

Canaccord Genuity , the global capital markets division […]

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