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High grade results from Yanfolila

10 Sep 2014 07:00

RNS Number : 2466R
Hummingbird Resources PLC
10 September 2014
 



Wednesday 10 September 2014

 

 

Hummingbird Resources plc

("Hummingbird Resources" or the "Company") (AIM: HUM)

 

High grade gold drill intercepts from Yanfolila Project

 

Hummingbird Resources, the gold exploration and development company with assets in Mali and Liberia, is pleased to announce positive drill results from the Sanioumale East deposit, the first deposit the Company has drilled within the 1.8Moz Yanfolila Project in Mali, as part of the optimisation programme.

Selected Yanfolila Drilling Results:

· SNERD0105 - 3m @ 3.13g/t gold

· SNERC0111 - 6m @ 4.78g/t gold

· SNERC0116 - 6m @ 2.66g/t gold

· SNERC0108 - 8m @ 7.32g/t gold

· SNERC0118 - 17m@ 1.36g/t gold

· SNERC0127 - 8m @ 5.15g/t gold

· SNERC0122 - 4m @ 1.94g/t gold

The infill and extension drill programme is being completed to both increase confidence in and extend existing oxide and transitional zone resources across four of the deposits within the Yanfolila Project. The desk top re-modelling of Gold Fields drill data being completed by CSA Global (UK) is producing very positive results. These results mean that the Company will extend the 11,000m drill programme to approximately 15,000m with the aim of defining additional resources. Approximately 3,000m of metallurgical and geotechnical drilling is also being completed on those deposits. The Company has already drilled over 11,000m and the entire programme will be completed by early October. All other optimisation work is progressing in line with the plan to commence construction in Q1 2015.

Please click on the link to see a map of deposit locations and drilling status.

http://www.rns-pdf.londonstockexchange.com/rns/2466R_1-2014-9-9.pdf

Dan Betts, CEO of Hummingbird Resources, said:

"The high grade results to date further support the quality of the Yanfolila Project. Having only acquired the Yanfolila Project recently, we are very pleased with progress. We have already completed the initial planned drill programme and because of the positive results we are extending it a further 4,000 metres to potentially increase the resource. We are looking forward to receiving the rest of the results and completing the re-modelling of the ore bodies. We anticipate that this will increase the oxide and transitional resources from the Gold Fields model, which will feed into an optimised financial model and increase the Life of Mine production at the Yanfolila Project."

 

ENDS

 

 

Enquiries:

 

 

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer

Thomas Hill, Finance Director

Robert Monro, Head of Business Development

+44 (0) 203 416 3560

Cantor Fitzgerald Europe

Nominated Adviser and Corporate Broker

Stewart Dickson / Jeremy Stephenson / Carrie Lun

+44 (0) 207 894 7000

 

FTI Consulting LLP

Financial PR

Ben Brewerton / Oliver Winters / Sara Powell

+44 (0) 203 727 1000

Notes to Editors

About Hummingbird Resources Plc

Founded in late 2005, Hummingbird Resources is a West African gold explorer and developer (AIM:HUM), which listed on AIM in December 2010 with a maiden N143-101 compliant Resource of 0.8Moz gold in Liberia. Since IPO the Company has significantly grown its initial resource to 4.2Moz at its Dugbe 1 Project in Liberia, West Africa. In July 2014 Hummingbird Resources acquired Gold Fields' gold assets in Mali. Hummingbird is now a multi-project, near-term producer with 6Moz of gold and 5,000 km2 of exploration ground.

 

For more information, please visit www.hummingbirdresources.co.uk

Drill Results

Calculated at 0.5 g/t Au lower cut-off and Uncut high grade

Drill collar information

Hole ID

From

To

Interval (m)

Grade (g/t Au)

EUTM Survey

NUTM Survey

RL Survey

DIP

AZ

EOH

SNERC0101

No significant values

568,950

1,255,700

371

-55

90

70

SNERC0102

No significant values

568,980

1,255,860

366

-55

90

78

SNERC0103

106

107

1

1.26

568,910

1,255,700

375

-55

90

140

127

131

4

1.27

SNERC0104

22

23

1

2.12

568,940

1,255,860

372

-55

90

156

154

155

1

0.60

SNERD0105

73

76

3

3.13

568,870

1,255,700

378

-55

90

155.5

SNERC0106

No significant values

569,280

1,256,180

364

-55

90

69

SNERC0107

No significant values

568,900

1,255,860

370

-55

90

150

SNERC0108

17

25

8

7.32

569,305

1,256,340

360

-55

90

80

SNERC0109

No significant values

569,240

1,256,180

364

-55

90

142

SNERD0110

76

78

2

1.09

569,265

1,256,340

360

-55

90

136

SNERC0111

1

5

4

1.43

569,170

1,255,860

370

-55

90

80

26

32

6

4.78

SNERC0112

No significant values

569,200

1,256,180

364

-55

90

150

SNERC0113

23

24

1

1.00

569,130

1,255,860

366

-55

90

156

39

40

1

1.00

75

77

2

2.00

80

81

1

1.00

SNERD0114

Core results pending

568,830

1,255,700

380

-55

90

152.15

SNERC0115

No significant values

569,180

1,256,020

369

-55

90

78

SNERC0116

98

104

6

2.66

569,160

1,256,180

361

-55

90

147

SNERC0118

17

20

3

1.91

569,225

1,256,340

360

-55

90

156

64

81

17

1.36

-55

90

SNERC0119

No significant values

569,120

1,256,180

361

90

158

SNERC0120

No significant values

569,145

1,255,700

377

90

78

SNERC0122

47

51

4

1.94

569,330

1,256,500

355

-55

90

80

SNERD0123

40

41

1

2.69

569,105

1,255,700

376

-55

90

131.3

SNERC0127

48

56

8

5.15

568,870

1,255,540

372

-55

90

78

SNERD0128

Core results pending

568,830

1,255,540

372

-55

90

149.35

SNERC0131

82

84

2

1.20

568,820

1,255,380

369

-55

90

90

SNERC0132

No significant values

568,740

1,255,220

360

-55

90

66

SNERC0138

52

53

1

2.53

568,660

1,254,980

357

-55

90

67

SNERC0142

89

90

1

3.33

568,600

1,254,900

362

-55

90

126

SNERC0145

40

41

1

1.36

568,550

1,254,740

364

-55

90

125

Competent Person Review

Mr. David Pelham has reviewed and approved the technical information contained within this announcement in his capacity as a qualified person, as required under the AIM Rules for Companies. Mr. Pelham is a Director of the Company and is a member of the Institute of Materials, Minerals and Mining.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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