TIDMHUM
RNS Number : 6517J
Hummingbird Resources PLC
23 December 2020
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
23 December 2020
Hummingbird Resources plc
("Hummingbird" or the "Company")
Yanfolila exploration and drilling update
Hummingbird Resources plc (AIM:HUM) is pleased to provide an
update on its exploration and drilling programme relating to the
Sanioumale East ("SE") deposit at Yanfolila in Mali. To view the
RNS with illustrative maps and drill intersections please use this
link:
http://www.rns-pdf.londonstockexchange.com/rns/6517J_1-2020-12-23.pdf
.
SE deposit drilling results highlights:
-- 7 m at 3.72 g/t from 45 m depth (SNERC0308)
-- 16 m at 9.64 g/t from 47 m depth (SNERC0317)
-- 18m at 2.83 g/t from 49 m depth (SNERC0338)
-- 7 m at 7.83 g/t from 21 m depth (SNERC0342)
-- 13 m at 2.22 g/t from 55 m depth (SNERC0344)
-- 8 m at 3.57 g/t from 36 m depth (SNERC0370)
-- 23 m at 1.96 g/t from 87 m depth (SNERC0370)
-- 8 m at 2.68 g/t from 112 m depth (SNERC0370) *
* New zone of mineralisation intersected outside the mineral
resource model with the hole ending in mineralisation
-- Due to new zones of mineralisation intersected and the
improved grade continuing at depth, the Company has extended its SE
drilling campaign
-- The Company anticipates this new set of drilling to be
finalised shortly, and will complete the 2020 exploration and
drilling programmes. This data will be used to update the Yanfolila
mineral resource models which Hummingbird expects to release by the
end of Q1 2021
-- The above drilling results for SE and those recently released
from Sanioumale West ("SW") and Komana East Underground ("KEUG")
demonstrate potential mine life extension options at the Company's
existing deposits. For more details on these results and drill
intersections see the maps below and follow the link here for
further drilling updates from the Company
Dan Betts, CEO of Hummingbird, commented:
"The purpose of our 2020 exploration and drilling programmes was
primarily to upgrade our confidence levels in known mineral
resources. It is clear from these results and those previously
released that we have been able to achieve this and I am confident
that we will be adding to the known mineral resources at Yanfolila.
We are now modelling this years' drilling results in order to
update our mineral resource models which we aim to release in Q1
next year."
Murray Paterson, Chief Geologist of Hummingbird, commented:
"I am pleased with the initial SE drilling results. We have
encountered multiple zones of mineralisation containing high grades
with several remaining open at depth that require further drill
testing in 2021. We are now eagerly finalising our 2021 exploration
and drilling strategy not only for Yanfolila but at our new Guinea
gold project, Kouroussa."
SE DEPOSIT - Gramme per metre plan including the 2020 drill
intercepts
SE DEPOSIT - Long section through the central zone
SE DEPOSIT - Drilling Cross Sections # 1
SE DEPOSIT - Drilling Cross Sections # 2
SE - Drilling intersection #3
Qualified Person sign off
Murray Paterson has reviewed the technical information contained
within this announcement in his capacity as a Qualified Person, as
required under the AIM Rules for Companies. Murray Paterson is the
VP Geology for the Company and is a member of good standing with
the Australasian Institute of Mining and Metallurgy (MAusIMM), with
25 years' experience.
**ENDS**
For further information please visit
www.hummingbirdresources.co.uk or contact:
Daniel Betts, Hummingbird Resources Tel: +44 (0) 20 7409
CEO plc 6660
Thomas Hill, FD
Edward Montgomery,
CSO & ESG
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer Nominated Adviser 3494
-------------------------- ---------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523
Thomas Diehl Broker 8000
-------------------------- ---------------------
Tim Blythe Blytheweigh Tel: +44 (0) 20 7138
Megan Ray Financial PR/IR 3205
Rachael Brooks
-------------------------- ---------------------
Notes to Editors:
Hummingbird Resources (AIM: HUM) is a leading multi-asset,
multi-jurisdiction gold production, development and exploration
company and member of the World Gold Council ('WGC'). Our vision is
to continue to grow our asset base, producing highly profitable
ounces, while central to all we do being our Environmental, Social
& Governance ('ESG') policies and practices. The Company
currently has two core gold projects, the Yanfolila Gold Mine in
Mali, and the recently acquired Kouroussa Gold Project in Guinea.
Further, the company has a controlling interest in the Dugbe Gold
Project in Liberia that is being developed by Pasofino Gold Limited
through an earn-in agreement. Construction of the Yanfolila mine,
was on time and on budget in December 2017 having produced to date
in excess of 270 kozs (as end of July 2020). Mineable Reserves, as
at 31 October 2019 Yanfolila were 7.9Mt of Reserve ore @ 2.66 g/t
for 676,000ozs gold. At 31 March 2019 Yanfolila had a total
Resource base (inclusive of Reserves) of 28Mt of Ore @ 2.23 g/t for
2,005,300ozs gold. The Kouroussa Gold Project has a Mineral
Resource base of 1.18Moz @ 3.08 g/t, which we are working on to be
fast tracked to production, adding an additional c.100,000 oz of
gold per annum to the Company's production profile. The Dugbe Gold
Project has Resources currently totalling 4.2Moz of gold and a
completed NI 43-101 compliant PEA on the project showing a 43% IRR
and US$337m NPV at a US$1,500 gold price.
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END
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