Last checked at 13 Dec 2018 07:00
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
Hummingbird Resources plc
("Hummingbird" or the "Company")
Exploration Results Update
Hummingbird Resources (AIM:HUM), the African gold producer, is pleased to announce its second set of drill results from the 2018 exploration campaign in Mali, the focus of which is to convert Resources to Reserves and, in time, to extend the life of mine from the Company's Yanfolila Gold Mine.
Drilling has been ongoing since it began in July and has now focused on the Resource definition at Gonka, with some further follow up drilling at Komana West. This second batch of results delivers further positive results from those announced in September and shows the high-grade potential at Gonka owing to the significant numbers of wide and high-grade drill intercepts encountered to date. The additional drilling at Komana West has been useful to the mining operations, since the newly drilled zones have been found outside the Resource model and positive results have been found inside the current pit shell, increasing the amount of mineable ore available.
Drilling Highlights:
Best Intersections
Gonka ('GK') Deposit
· 15m @ 16.03g/t from 207m depth (GKRCD0013)
· 20.05m @ 4.63g/t from 118m depth (GKDD0020)
· 11m @ 4.11g/t from 79m depth (GKRCD0044)
· 14m @ 3.88g/t from 178m depth (GKRCD0002)
· 13.6m @ 2.56g/t from 34m depth (GKDD0011)
Komana West ('KW') Deposit
· 15m @ 4.25 g/t from 8m depth (KWDD0609)
Komana West South Extension
· 12m @ 1.90 g/t from 90m depth (KWRC0419)
Murray Paterson, Chief Geologist for Hummingbird, commented:
"Following analysis of recent exploration results, Hummingbird is confident that it is now on target to achieve our operational objective, which is to increase the mine life at Yanfolila. In light of these results, the exploration team on site is now working diligently to build a mineable Resource that will aim to add more open pit and underground ore extending the current mine life.
So far, drilling has remained quite shallow, focussing on infilling the open pit Resources. Our attentions now switch to drilling out the underground Resources at Gonka, which is very exciting since this is where the highest grades and wider intervals have been drilled by Gold Fields Ltd."
Please click on the following link to see a long section of the Gonka deposit and a map of the deposit locations within the mining permit.
http://www.rns-pdf.londonstockexchange.com/rns/3186K_1-2018-12-12.pdf
Further information:
2018 Exploration Results
As at the end of November the total metres drilled to date is 23,697m. A breakdown of the numbers is as follows;
Gonka (metres)
· Reverse Circulation ('RC'): 6,206
· Diamond Drill Hole ('DDH'): 9,908
· Total : 16,114
Komana West (metres)
· RC: 3,091
· DDH: 2,536
· Total : 5,627
Guirin West (metres)
· RC: 1,956
Initially, around 50,000m of drilling was planned this year. Through the year the drilling schedule has become more targeted and has been adapted to fit with the updated LoM plan.
All currently planned exploration drilling is expected to be completed by year end 2018 allowing the mineral resource model and mine planning to commence. It is expected that by the end of the first quarter 2019 a new mineral Resource and Reserve update will be released by the company.
Komana West ('KW') Pit
The 2018 drilling programme at KW has been completed. Following the first round of results, another near-surface mineralised zone has been identified immediately west of the main North-South grade domain within the current pit. This new in-pit zone is in addition to the high-grade zones reported previously. These zones will add immediately to the mineable oxide ounces in the Reserve as they will be grade controlled drilled once mining reaches the relevant pit floor elevations over the next 6 months. The targeted diamond drilling that has been carried out has also allowed the structural model for the deposit to be refined, which has been a benefit to further exploration but also the grade control and Resource modelling.
Komana West - Southern Extension
RC drilling to test for the southern extension of mineralisation identified a broad zone of 12m @ 1.9g/t (open at depth below) in hole KWRC0419. The intersection is located 650m south of the boundary of the planned pit. Further follow up drilling will be planned next year to test for mineralised extensions along strike and down dip.
A total of 2,536m of Diamond Drilling and 3,091 metres of RC has been drilled at Komana West and its northern and southern extensions. There remain a few RC assays still outstanding. See table below for a complete set of results.
Gonka
Drilling at Gonka has identified a series of broad mineralised zones with intermittent, narrow high-grade zones, with both related to north plunging, open fold hinge zones proximal to a basalt-metasediment contact. These zones form a series of well-defined linear ore shoots which are proving to be predictable in nature. The predictability of the ore shoots is allowing for drilling to continue to define extensions to the shoots outside of the $1,100/oz pit shell used in the DRA's 2016 open pit and underground scoping study.
Mineralisation is typically defined by a fine, dark alteration of the basalt, with fine pyrite or narrow zones of coarse cubic pyrite +/- quartz veins and/or brecciated quartz-carbonate +/- tourmaline vein zones of various widths. Photos of these high-grade zones will be uploaded and sent out on Twitter shortly after the release of this announcement. The mineralised intersections have been identified at depths as shallow as 34m. However, very little surface expression of the ore body exists, which has limited the number of orpailleurs (artisanal miners) active at Gonka.
The geological and structural model has been under constant revision and has been used to assist with planning and following down plunge extensions to the main high-grade zones. The exploration team's primary drilling focus for this year has been to convert the previously defined Inferred Resources to Indicated. Once this is complete, the team's attention can move to the numerous other significant intercepts that have the potential to define new zones in the Gonka mineral resource model.
Gold Fields Ltd ("Gold Fields") had previously drilled +47,000m of drilling at Gonka defining over +300kozs in Inferred resources (DRA 2016 study indicated that there was some 92kozs @ 2.33g/t within the open pit and 77kozs @ 4.47g/t underground at $1,100/oz gold price). Drilling by Gold Fields identified mineralisation and resources along a >2km zone, making up the Gonka trend. The current drilling program has focused on an 800m long portion at the northern end of the Gonka trend. Some of Gold Fields' notable drill intersections were;
7m @ 7.65 g/t from 92m depth (KRC0578)
6m @ 9.18 g/t from 102m depth (KRC0578)
15m @ 7.51 g/t from 59m depth (KRC0806)
20m @ 4.19 g/t from 56m depth (KRCD0058)
7.2m @ 7.05 g/t from 139m depth (KRCD0233)
5.2m @ 9.42 g/t from 174.4m depth (KRCD0575)
4.85m @ 11.46 g/t from 109.55m (KRCD0587)
5.3m @ 18.80 g/t from 249m (KRCD0730)
3.5m @ 23.13 g/t from 162.6m (KRCD0756)
1.3m @ 39.71 g/t from 220.4m (KRCD0808)
To date a total of 9,908m (budget of 12,000m) of DD and 6,206 metres (budget of 10,000m) of RC pre-collars have been completed at Gonka. The current exploration drill programme will be finished by year end, and work has already begun to ensure the updated Resource and Reserve models are finalised by Q1 2019.
The Gonka deposit is situated just 5km from the process plant, making it suitable to be included in the current mine plan. The deposit is fully permitted and within the mining license, which will allow mining to start immediately, once the Resource modelling and mine planning is completed, expected by the end of first quarter 2019.
Guirin West
Mineral Resource modelling of the Guirin West infill RC drilling (1,956m) was completed by CSA Global - UK. The total mineral resource defined from this drilling was 64kt @ 2.26g/t for 4.6kozs (at a cut-off of 0.8g/t). All the material is oxide and is contained with a single grade domain. Only the southern-most zone within the 6 mineralised zones that make up Guirin West was able to be drilled at the time due to the extreme wet season. The remaining zones are being planned to be drilled in 2019.
Komana East Underground
No further drilling is being planned for 2018 at Komana East underground. Mining planning work is being scheduled to commence by CSA Global - Perth in February 2019 to prepare an underground mine design and schedule on the existing Indicated resources beneath the pit. This work is scheduled for completion by the end of quarter one 2019.
Sanioumale East and West "SE & SW"
The planned 2018 resource infill and fresh rock extensional drilling at Sanioumale East and West have been postponed until 2019. Mine planning work by CSA Global are running mine planning scenarios on the existing Indicated resources (oxide and transitional only) at SE & SW. With the planned second ball mill expansion ready by Q3 2019, the oxide / transitional resources of 200kozs at SE & SW will be blended with the hard rock resources from Gonka.
Komana West
Full drill results - 1m cut-off grade 0.5g/t
Hole_ID | Depth From (m) | Depth To (m) | Interval (m) | Grade (g/t) | Intercept Description |
KWDD0600 | 139 | 146 | 7 | 1.88 | 7m @ 1.88 g/t |
KWDD0601 | 109 | 110.2 | 1.2 | 0.8 | 1.2m @ 0.80 g/t |
KWDD0601 | 118 | 119 | 1 | 3.23 | 1m @ 3.23 g/t |
KWDD0601 | 133 | 134 | 1 | 0.8 | 1m @ 0.80 g/t |
KWDD0601 | 143 | 144 | 1 | 2.25 | 1m @ 2.25 g/t |
KWDD0601 | 159 | 160 | 1 | 0.58 | 1m @ 0.58 g/t |
KWDD0601 | 164 | 165 | 1 | 3.04 | 1m @ 3.04 g/t |
KWDD0602 | 119 | 120 | 1 | 22.9 | 1m @ 22.90 g/t |
KWDD0603 | 72.4 | 80.45 | 8.05 | 4.98 | 8.05m @ 4.98 g/t |
KWDD0603 | 84.9 | 92 | 7.1 | 6.25 | 7.1m @ 6.25 g/t |
KWDD0603 | 96.1 | 98 | 1.9 | 24.87 | 1.9m @ 24.87 g/t |
KWDD0603 | 105.55 | 107 | 1.45 | 0.57 | 1.45m @ 0.57 g/t |
KWDD0603 | 118 | 142.75 | 24.75 | 3.06 | 24.75m @ 3.06 g/t |
KWDD0603 | 173 | 174 | 1 | 3.83 | 1m @ 3.83 g/t |
KWDD0604 | 64 | 66 | 2 | 0.58 | 2m @ 0.58 g/t |
KWDD0604 | 69 | 82.5 | 13.5 | 5.33 | 13.5m @ 5.33 g/t |
KWDD0604A | 62.5 | 65 | 2.5 | 3.47 | 2.5m @ 3.47 g/t |
KWDD0604A | 69.7 | 79.7 | 10 | 9.9 | 10m @ 9.90 g/t |
KWDD0605 | 102 | 103 | 1 | 0.73 | 1m @ 0.73 g/t |
KWDD0605 | 134 | 136 | 2 | 5.12 | 2m @ 5.12 g/t |
KWDD0605 | 139 | 145 | 6 | 2.17 | 6m @ 2.17 g/t |
KWDD0605 | 154 | 157 | 3 | 0.96 | 3m @ 0.96 g/t |
KWDD0606 | 115 | 116 | 1 | 0.63 | 1m @ 0.63 g/t |
KWDD0607 | 121 | 123 | 2 | 2.71 | 2m @ 2.71 g/t |
KWDD0607 | 127 | 128 | 1 | 0.81 | 1m @ 0.81 g/t |
KWDD0608 | 43 | 54.8 | 11.8 | 1.12 | 11.8m @ 1.12 g/t |
KWDD0608 | 61 | 62 | 1 | 10 | 1m @ 10.00 g/t |
KWDD0608 | 80 | 81 | 1 | 0.53 | 1m @ 0.53 g/t |
KWDD0608 | 86.3 | 88 | 1.7 | 0.92 | 1.7m @ 0.92 g/t |
KWDD0608 | 93 | 94.7 | 1.7 | 1.15 | 1.7m @ 1.15 g/t |
KWDD0608 | 98 | 99 | 1 | 0.62 | 1m @ 0.62 g/t |
KWDD0608 | 125 | 126.8 | 1.8 | 10.11 | 1.8m @ 10.11 g/t |
KWDD0608 | 142 | 143 | 1 | 0.85 | 1m @ 0.85 g/t |
KWDD0609 | 8 | 23 | 15 | 4.25 | 15m @ 4.25 g/t |
KWDD0609 | 78 | 79 | 1 | 0.59 | 1m @ 0.59 g/t |
KWDD0609 | 92.43 | 93.45 | 1.02 | 0.8 | 1.02m @ 0.80 g/t |
KWDD0609 | 150 | 152 | 2 | 0.87 | 2m @ 0.87 g/t |
KWDD0609 | 164 | 165 | 1 | 0.54 | 1m @ 0.54 g/t |
KWDD0612 | 112 | 113 | 1 | 0.81 | 1m @ 0.81 g/t |
KWDD0613 | 85.3 | 87 | 1.7 | 5.96 | 1.7m @ 5.96 g/t |
KWDD0613 | 97 | 98 | 1 | 14.3 | 1m @ 14.30 g/t |
KWDD0613 | 121.25 | 123 | 1.75 | 2.21 | 1.75m @ 2.21 g/t |
KWDD0614 | 104 | 105 | 1 | 1.06 | 1m @ 1.06 g/t |
KWDD0614 | 114.4 | 118 | 3.6 | 4.95 | 3.6m @ 4.95 g/t |
KWDD0614 | 126 | 134 | 8 | 1.99 | 8m @ 1.99 g/t |
KWDD0614 | 137.05 | 139.1 | 2.05 | 7.33 | 2.05m @ 7.33 g/t |
KWRC0400 | 13 | 14 | 1 | 2.7 | 1m @ 2.70 g/t |
KWRC0406 | 36 | 39 | 3 | 1.34 | 3m @ 1.34 g/t |
KWRC0408 | 110 | 112 | 2 | 2.45 | 2m @ 2.45 g/t |
KWRC0408 | 114 | 115 | 1 | 0.6 | 1m @ 0.60 g/t |
KWRC0417 | 0 | 1 | 1 | 16.8 | 1m @ 16.80 g/t |
KWRC0419 | 90 | 102 | 12 | 1.9 | 12m @ 1.90 g/t |
KWRCD0003 | 11 | 12 | 1 | 0.54 | 1m @ 0.54 g/t |
KWRCD0003 | 28 | 29 | 1 | 12.8 | 1m @ 12.80 g/t |
KWRCD0003 | 48 | 49 | 1 | 8.4 | 1m @ 8.40 g/t |
KWRCD0003 | 59 | 60 | 1 | 1.47 | 1m @ 1.47 g/t |
KWRCD0003 | 71 | 72 | 1 | 1.1 | 1m @ 1.10 g/t |
KWRCD0003 | 91.25 | 92.75 | 1.5 | 0.75 | 1.5m @ 0.75 g/t |
KWRCD0003 | 195 | 196 | 1 | 0.83 | 1m @ 0.83 g/t |
KWRCD0004 | 47 | 48 | 1 | 0.56 | 1m @ 0.56 g/t |
KWRCD0004 | 77 | 80 | 3 | 3.26 | 3m @ 3.26 g/t |
KWRCD0004 | 94.5 | 95.9 | 1.4 | 20.46 | 1.4m @ 20.46 g/t |
KWRCD0004 | 104.4 | 105.4 | 1 | 2.4 | 1m @ 2.40 g/t |
KWRCD0004 | 121 | 123 | 2 | 0.8 | 2m @ 0.80 g/t |
KWRCD0004 | 133 | 134 | 1 | 29.7 | 1m @ 29.70 g/t |
Gonka
Full drill results - 1m cut-off grade 0.5g/t
Hole_ID | Depth From (m) | Depth To (m) | Interval Width (m) | Grade (g/t) | Intercept Description |
GKDD0001 | 132 | 134 | 2 | 2.12 | 2m @ 2.12 g/t |
GKDD0001 | 153 | 155 | 2 | 3.72 | 2m @ 3.72 g/t |
GKDD0001 | 167 | 168 | 1 | 1.77 | 1m @ 1.77 g/t |
GKDD0002 | 80 | 82 | 2 | 4.34 | 2m @ 4.34 g/t |
GKDD0002 | 88 | 89 | 1 | 2.54 | 1m @ 2.54 g/t |
GKDD0002 | 108 | 111 | 3 | 5.5 | 3m @ 5.50 g/t |
GKDD0002 | 157 | 158 | 1 | 0.5 | 1m @ 0.50 g/t |
GKDD0003 | 78.4 | 80.45 | 2.05 | 1.11 | 2.05m @ 1.11 g/t |
GKDD0004 | 39 | 41 | 2 | 1.77 | 2m @ 1.77 g/t |
GKDD0004 | 60 | 61 | 1 | 0.9 | 1m @ 0.90 g/t |
GKDD0006 | 90 | 91.25 | 1.25 | 0.6 | 1.25m @ 0.60 g/t |
GKDD0007 | 134 | 136 | 2 | 8.18 | 2m @ 8.18 g/t |
GKDD0007 | 158 | 161 | 3 | 1.84 | 3m @ 1.84 g/t |
GKDD0007 | 187 | 193 | 6 | 4.41 | 6m @ 4.41 g/t |
GKDD0007 | 199 | 200 | 1 | 0.5 | 1m @ 0.50 g/t |
GKDD0008 | 206 | 207 | 1 | 1.7 | 1m @ 1.70 g/t |
GKDD0009 | 109 | 110 | 1 | 2.97 | 1m @ 2.97 g/t |
GKDD0009 | 116 | 118 | 2 | 1.69 | 2m @ 1.69 g/t |
GKDD0009 | 177.2 | 179.15 | 1.95 | 2.37 | 1.95m @ 2.37 g/t |
GKDD0010 | 85 | 89 | 4 | 2.78 | 4m @ 2.78 g/t |
GKDD0010 | 112 | 117 | 5 | 2.97 | 5m @ 2.97 g/t |
GKDD0010 | 120 | 121 | 1 | 0.66 | 1m @ 0.66 g/t |
GKDD0010 | 132.15 | 133.8 | 1.65 | 0.67 | 1.65m @ 0.67 g/t |
GKDD0011 | 34 | 47.6 | 13.6 | 2.56 | 13.6m @ 2.56 g/t |
GKDD0012 | 156 | 157 | 1 | 0.61 | 1m @ 0.61 g/t |
GKDD0012 | 160 | 164 | 4 | 0.98 | 4m @ 0.98 g/t |
GKDD0012 | 185 | 186 | 1 | 2.13 | 1m @ 2.13 g/t |
GKDD0012 | 198 | 200 | 2 | 0.54 | 2m @ 0.54 g/t |
GKDD0015 | 144.5 | 150.8 | 6.3 | 2.88 | 6.3m @ 2.88 g/t |
GKDD0015 | 186.25 | 187.25 | 1 | 0.52 | 1m @ 0.52 g/t |
GKDD0017 | 116.2 | 117.4 | 1.2 | 0.87 | 1.2m @ 0.87 g/t |
GKDD0017 | 141 | 144 | 3 | 1.19 | 3m @ 1.19 g/t |
GKDD0018 | 91 | 92 | 1 | 0.74 | 1m @ 0.74 g/t |
GKDD0018 | 170 | 171 | 1 | 0.68 | 1m @ 0.68 g/t |
GKDD0019 | 146 | 154.5 | 8.5 | 1.36 | 8.5m @ 1.36 g/t |
GKDD0019 | 184 | 185 | 1 | 0.52 | 1m @ 0.52 g/t |
GKDD0020 | 90.6 | 97 | 6.4 | 2.9 | 6.4m @ 2.90 g/t |
GKDD0020 | 111.2 | 114.8 | 3.6 | 0.85 | 3.6m @ 0.85 g/t |
GKDD0020 | 118.35 | 126.1 | 7.75 | 2.95 | 7.75m @ 2.95 g/t |
GKDD0020 | 128.9 | 132 | 3.1 | 20.39 | 3.1m @ 20.39 g/t |
GKDD0021 | 177 | 179 | 2 | 0.98 | 2m @ 0.98 g/t |
GKDD0022 | 45 | 46 | 1 | 1.16 | 1m @ 1.16 g/t |
GKDD0022 | 56.05 | 57.05 | 1 | 1.5 | 1m @ 1.50 g/t |
GKDD0024 | 136 | 137 | 1 | 5.06 | 1m @ 5.06 g/t |
GKDD0024 | 146 | 147 | 1 | 30.8 | 1m @ 30.80 g/t |
GKDD0024 | 167 | 169 | 2 | 1.57 | 2m @ 1.57 g/t |
GKDD0025 | 147 | 148.56 | 1.56 | 0.59 | 1.56m @ 0.59 g/t |
GKDD0027 | 68 | 70 | 2 | 1.24 | 2m @ 1.24 g/t |
GKDD0027 | 86 | 89 | 3 | 1.19 | 3m @ 1.19 g/t |
GKRCD0002 | 169 | 171 | 2 | 1.61 | 2m @ 1.61 g/t |
GKRCD0002 | 178 | 192 | 14 | 3.88 | 14m @ 3.88 g/t |
GKRCD0002 | 205 | 207 | 2 | 0.95 | 2m @ 0.95 g/t |
GKRCD0004 | 281 | 282.2 | 1.2 | 1.29 | 1.2m @ 1.29 g/t |
GKRCD0013 | 207 | 222 | 15 | 16.03 | 15m @ 16.03 g/t |
GKRCD0013 | 228 | 230.5 | 2.5 | 0.87 | 2.5m @ 0.87 g/t |
GKRCD0020 | 195 | 198 | 3 | 1.8 | 3m @ 1.80 g/t |
GKRCD0020 | 202 | 203.1 | 1.1 | 0.63 | 1.1m @ 0.63 g/t |
GKRCD0020 | 206.3 | 216 | 9.7 | 2.15 | 9.7m @ 2.15 g/t |
GKRCD0020 | 219 | 220 | 1 | 1.97 | 1m @ 1.97 g/t |
GKRCD0022 | 219 | 220 | 1 | 0.86 | 1m @ 0.86 g/t |
GKRCD0023 | 158 | 159 | 1 | 5.5 | 1m @ 5.50 g/t |
GKRCD0023 | 162.7 | 165 | 2.3 | 6.55 | 2.3m @ 6.55 g/t |
GKRCD0023 | 187 | 191 | 4 | 0.51 | 4m @ 0.51 g/t |
GKRCD0023 | 199 | 203 | 4 | 0.58 | 4m @ 0.58 g/t |
GKRCD0023 | 210 | 212 | 2 | 1.56 | 2m @ 1.56 g/t |
GKRCD0023 | 229 | 230.8 | 1.8 | 1.06 | 1.8m @ 1.06 g/t |
GKRCD0033 | 49 | 55 | 6 | 2.29 | 6m @ 2.29 g/t |
GKRCD0033 | 60 | 61 | 1 | 0.58 | 1m @ 0.58 g/t |
GKRCD0033 | 70 | 71 | 1 | 1.19 | 1m @ 1.19 g/t |
GKRCD0033 | 78 | 79 | 1 | 1.84 | 1m @ 1.84 g/t |
GKRCD0035 | 74 | 75 | 1 | 0.99 | 1m @ 0.99 g/t |
GKRCD0035 | 79 | 80 | 1 | 0.8 | 1m @ 0.80 g/t |
GKRCD0035 | 87 | 88 | 1 | 0.55 | 1m @ 0.55 g/t |
GKRCD0035 | 92 | 93 | 1 | 0.79 | 1m @ 0.79 g/t |
GKRCD0035 | 100 | 119.55 | 19.55 | 1.8 | 19.55m @ 1.80 g/t |
GKRCD0035 | 123 | 126 | 3 | 1.13 | 3m @ 1.13 g/t |
GKRCD0036 | 87.7 | 90 | 2.3 | 0.73 | 2.3m @ 0.73 g/t |
GKRCD0036 | 118 | 119 | 1 | 1.85 | 1m @ 1.85 g/t |
GKRCD0036 | 158.74 | 167 | 8.26 | 1.73 | 8.26m @ 1.73 g/t |
GKRCD0042B | 121 | 122 | 1 | 2.13 | 1m @ 2.13 g/t |
GKRCD0042B | 125 | 126.08 | 1.08 | 1.16 | 1.08m @ 1.16 g/t |
GKRCD0042B | 160 | 161 | 1 | 0.6 | 1m @ 0.60 g/t |
GKRCD0044 | 8 | 9 | 1 | 0.5 | 1m @ 0.50 g/t |
GKRCD0044 | 34 | 38 | 4 | 3.2 | 4m @ 3.20 g/t |
GKRCD0044 | 44 | 46 | 2 | 1.93 | 2m @ 1.93 g/t |
GKRCD0044 | 62 | 65 | 3 | 2.35 | 3m @ 2.35 g/t |
GKRCD0044 | 79 | 90 | 11 | 4.11 | 11m @ 4.11 g/t |
GKRCD0056 | 48 | 55 | 7 | 1.29 | 7m @ 1.29 g/t |
GKRCD0056 | 59 | 60 | 1 | 0.65 | 1m @ 0.65 g/t |
GKRCD0057 | 11 | 14 | 3 | 0.86 | 3m @ 0.86 g/t |
GKRCD0057 | 53 | 56 | 3 | 0.66 | 3m @ 0.66 g/t |
GKRCD0057 | 60 | 72 | 12 | 1.04 | 12m @ 1.04 g/t |
Qualified Person Review
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 Chief Geologist for the Company and is a member of good standing with the Australasian Institute of Mining and Metallurgy (MAusIMM).
**ENDS**
For further information, please visit www.hummingbirdresources.co.uk or contact:
Daniel Betts, CEO Thomas Hill, FD Robert Monro, IR | Hummingbird Resources plc | Tel: +44 (0) 20 7409 6660 |
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James Spinney Ritchie Balmer James Bellman | Strand Hanson Limited
Nominated Adviser | Tel: +44 (0) 20 7409 3494 |
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Martin Davison James Asensio | Canaccord Genuity Limited Broker | Tel: +44 (0) 20 7523 8000 |
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Gordon Poole Owen Roberts James Crothers | Camarco
Financial PR/IR | Tel: +44 (0) 20 3 757 4980 |
About Hummingbird Resources Plc
Notes to Editors
Hummingbird Resources (AIM: HUM) is a leading gold production, development and exploration company. The Company has two core gold projects, the Yanfolila Gold Mine in Mali and the Dugbe Gold Project in Liberia.
Yanfolila produced its first gold pour on time and budget in December 2017 and is expected to produce approximately 107,000oz gold/year on average over the Life of Mine. Yanfolila holds pre-production Probable Reserves of 709,800oz @ 3.14g/t, and total Resources of 1.8Moz of gold and an additional 390,700oz of non-compliant exploration potential.
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 29% IRR and US$186m NPV at a US$1,300 gold price.
In addition to Hummingbird's production and development assets, the Company also has an exploration footprint of ~4,000km2 and a 34% interest in AIM listed Cora Gold, which is advancing a portfolio of prospects in Mali and Senegal.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.