The Côte d’Ivoire Ministry of Mines, Petroleum and Energy has granted Tietto Minerals a mining licence for its 3 Moz Abujar gold project, paving the way for the development of West Africa’s next gold mine.
The mining licence covers an area of 120.36 km2, which hosts the 3.02 Moz Abujar gold resource and Tietto will now begin working with the Ivoirian Government to agree on terms and conditions for the Abujar gold project mining convention early in H1, 2021.
Tietto Minerals MD Dr Caigen Wang says that another milestone at the project has been secured following the grant of the mining licence. “We are in the final leg of the permitting process, with negotiations beginning on the terms and conditions of the mining convention.
Tietto’s board approved US$2.5 million of early site works at Abujar including site access upgrade, camp improvement and purchase of long‐lead items in anticipation of this final approval and completion of Abujar.
“Work on the Abujar PFS remains on track and we expect to deliver the results in Q1, 2021,” says Wang.
Exploration drilling continues to ramp up following completion of the Côte d’Ivoire general election. Tietto’s diamond drill rigs commenced a new 70 000 m programme with more than 1 500 samples awaiting lab assay.
Tietto is well funded to deliver project milestones, with A$60 million cash to hand.
A closer look at Tietto Minerals and the Abujar project
Tietto Minerals was founded in 2010 by Wang who has more than 25 years’ experience in mineral exploration in Africa, Australia, China and Canada. Funded by high net-worth individuals in the early days, Wang focused on exploration in Liberia followed by pursuing interests in Côte d’Ivoire.
The company listed in 2018. Among its leadership team is executive director Mark Strizek who has more than 20 years’ experience in gold exploration, resource development and operations of open pit and underground projects in African and Australia. The company also has a local partner, who is also a shareholder, and has been vital to of Tietto Mineral’s success in the Côte d’Ivoire.
Since listing, the company has been keenly focused on developing a multi-million ounce resource at Abujar, which is located approximately 30 km from the major regional city of Daloa in central western Côte D’Ivoire.
The project comprises three contiguous tenements over a total area of 1 114 km², of which less than 10% has been explored.