One of HOT's Service Projects-Tietto pours first gold at Abujar: 3.45Moz Abujar Gold Project in Côte d’Ivoire becomes West Africa’s newest gold mine.

Figure 1: Tietto’s Chief Operating Officer Matt Wilcox and our construction team celebrate the first gold pour at Abujar

Highlights:  

ØTietto has poured gold weighing 12.89 kg (414 troy oz) in its first smelt at Abujar.

ØAbujar constructed on budget and schedule – first gold achieved within 12 months after breaking ground for construction commencement.

ØAbujar gold production is unhedged and free of debt.

ØAbujar DFS forecast 260,000oz gold in its first year of production.

ØTietto  expects  to  complete  120,000m  of  drilling  in  CY2023;  Abujar resource update expected in Q1 CY23.

Figure 2: Plan view showing location of Tietto’s Projects

Abujar Gold Project Introduction

The Abujar Gold Project is located approximately 30km from the major regional city of Daloa in  central  western  Côte  D’Ivoire.    It  is  close  to  good  regional  and  local  infrastructure  to facilitate exploration and development being only 15km  from nearest tarred road and grid power.

The Abujar Gold  Project is  comprised  of  three  contiguous exploration  tenements, Middle, South and North tenement, with a total land area of 1,114k㎡, of which less than 10% has been explored. It features an NNE‐orientated gold corridor over 70km striking across three tenements.

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 is well placed to grow its resource inventory. It 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 DFS.

West African gold producer Tietto Minerals Limited recently completed construction of the Abujar Gold Plant and produced first gold on 14 January 2023.

Figures 3 and 4: Tietto teams celebrating first gold pour at Abujar

Figure 5: Abujar first gold pour

Figure 6: Abujar first gold bar

Next Steps 

Tietto has no debt with zero gold hedging and has delivered its first gold pour at Abujar. The 

Abujar DFS forecast 260,000oz gold in its first year of production2.  Tietto is positioned to 

continue building its resource inventory at Abujar while ramping up gold production in 2023 

as it: 

1. Continues to drive rapid resource growth at the 3.45Moz Abujar Gold Project; and 

2. Increases the gold production profile of the Abujar Gold Project. 

Tietto aims to complete up to 120,000m of diamond drilling in CY23 with its fleet of eight rigs 

in operation at Abujar. 

The Company is on track to deliver a resource update in Q1 CY23. 

With Tietto achieving first gold at the Abujar Gold Project, Abujar has become West Africa’s 

newest producing gold mine.