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Tietto Minerals has capital raising announcement pending and is granted a trading halt

Additional drilling at the Abujar Gold Project is scheduled to target 5 kilometres in strike length between two deposits.
The company is focused on fast tracking its gold exploration targets in West Africa

Tietto Minerals Ltd (ASX:TIE) has been granted a trading halt by the ASX with an announcement pending regarding a capital raising.

The trading halt will be in place until the start of trade on Thursday, April 18, 2019, or until an announcement is made to the market, whichever occurs earliest.

Shares last traded at 18 cents.

READ: Tietto Minerals grows abujar gold resource by 146% to 1.7 million ounces

Earlier this month the company increased the mineral resource by 146% at the Abujar Gold Project in central west Cote d’lvoire in West Africa.

To date, the company has defined mineral resources over a small portion of about 6.9 kilometres of a 70-kilometre mineralised corridor across three project tenements.

Tietto aims to complete more than 20,000 metres of diamond drilling using company-owned rigs in 2019 targeting a further resource upgrade in late 2019.

READ: Tietto Minerals accelerates drilling at cote D’lvoire gold project

To accelerate gold exploration operations the company deployed a second, larger diamond drill rig at the Abujar-Gludehi deposit, which is capable of drilling to 800 metres depth.

The company has also lodged two applications for exploration permits in northern Cote D’lvoire where several major operating gold mines and new gold discoveries are hosted.

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