(Kitco News) - West African gold explorer and developer Tietto Minerals (ASX: TIE) announced today it has commenced wet commissioning its 4.5Mtpa CIL processing system at its 3.45Moz Abujar gold project in Côte d'Ivoire.
The company said that the Abujar processing plant and tailings storage facility are fully operational, adding that the project was constructed on budget and schedule, with first gold pour expected within 10 days.
Importantly, Tietto noted that Abujar is forecast to produce 260,000 ounces of gold in its first year of production.
"Upon Tietto achieving first gold at the Abujar gold project, Abujar will become West Africa's newest producing gold mine," the company said in a statement.
The Abujar gold project is located approximately 30km from the major regional city of Daloa in central western Côte D'Ivoire. In December 2020, a gold exploitation (mining) licence within the Abujar Middle exploration tenement was granted. The mining tenement covers an area of 120.36km2.
Tietto said it is well placed to grow its resource inventory. The company has substantially advanced the project since starting exploration in mid-2015 with the identification of 3.45 million ounces measured, indicated, and inferred JORC 2012 mineral resources and has completed metallurgical test work and a definitive feasibility study.
"A definitive feasibility study delivered for Abujar in October 2021 demonstrated Abujar can deliver annual average gold production of more than 200,000 ounces of gold per annum over the first six years of production at an average all-in sustaining cost of US$804/oz. The project has a payback period post-tax of less than a year from first production," the company said.
Tietto also pointed out it aims to complete up to 120,000m of diamond drilling in CY23 with its fleet of eight rigs in operation at Abujar and on track to deliver a resource update in Q1 CY23.
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