Name of the Project
Abujar gold project.

Location
About 30 km from Daloa, a major regional city in central-western Côte d’Ivoire.

Project Owner/s
West African gold explorer and developer Tietto Minerals.

Project Description
The Abujar gold project comprises the Middle, South and North contiguous exploration tenements.

The project has total proven and probable minerals reserves of 34.4-million tonnes grading 1.3 g/t gold, and mineral resources of 87.5-million tonnes grading 1.2 g/t gold.

The project will source feed for the mill from the AG and APG deposits.

The AG deposit provides the majority of the value for the operation and the AG openpit comprises several openpits, all within 1 to 2 km of the proposed plant site, with several satellite pits located along strike to the north and south.

The definitive feasibility study (DFS), completed on the project in October 2021, proposes a conventional semiautogenous grinding milling circuit, and gravity and carbon-in-leach processing, with a throughput capacity of four-million tonnes a year for fresh ore and 4.8-million tonnes for oxide and transition blend once ramp-up is completed.

Tietto will examine the potential for the Abujar mill throughput to increase above DFS levels once the plant is operational as demonstrated by other West African projects.

Average gold production over the 11-year mine life is estimated at 1.7-million ounces.

Forecast gold production in the first year is estimated at 260 000 oz and 1.2-million ounces over the first six years.

A contractor will conduct openpit mining using conventional openpit mining techniques common in West Africa.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $959-million and an internal rate of return of 155%, with an after-tax payback of nine months.

Capital Expenditure
Capital costs are estimated at $200-million, including contingencies.

Planned Start/End Date
First gold was poured in January 2023.

Latest Developments
Commercial production has been declared at the Abujar gold mine, less than 18 months after construction activities started.

Tietto produced 15 592 oz in the June quarter, after producing 9 500 oz in the March quarter.

Key Contracts, Suppliers and Consultants
EPSA (preferred tenderer for the openpit mining contract).

Contact Details for Project Information
Tietto Minerals, tel +61 8 9331 6710 or email admin@tietto.com.