Last checked at 5 Aug 2021 07:00
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
5 August 2021
Hummingbird Resources plc
('Hummingbird' or the 'Company')
Komana East Underground drilling results extend mineralisation
Hummingbird Resources plc (AIM:HUM) is pleased to provide an update on the Company's 2021 exploration drilling programme at the Komana East ('KE') deposit at the Yanfolila gold mine, Mali. For the full release, including graphics, please follow the link here http://www.rns-pdf.londonstockexchange.com/rns/6282H_1-2021-8-4.pdf.
KE highlights:
§ One part of Hummingbird's 2021 exploration and drilling campaign has been to continue drill testing the northern extension of the KE ore body, to increase the resources and confidence for future KE Underground ('KEUG') mining potential
§ The Company has received results from 18 new diamond drill holes over 4,100 metres ('m') at the KE deposit which include the following notable intercepts:
§ 1.3 m at 7.00 g/t from 242.7 m (KEUGDD018)
§ 3.4 m at 5.35 g/t from 231.6 m (KEUGDD022)
§ 3.59 m at 5.17 g/t from 239 m (KEUGDD026)
§ 7.9 m at 4.22 g/t from 248.1 m (KEUGDD029)
§ 5.2 m at 3.83 g/t from 156 m (KEUGDD015)
§ 4.4 m at 3.67 g/t from 251.6 m (KEUGDD025)
§ 8.8 m at 2.87 g/t from 205 m (KEUGDD017)
§ 2.2 m at 2.46 g/t from 249.8 m (KEUGDD027)
§ Each hole of the programme intersected mineralisation over the +300 m long strike length tested, to a depth of approximately 200 m below surface, with excellent grades of +3 gramme per tonne ('g/t') achieved
§ Mineralisation is open at depth and continues to plunge to the north showing future underground mining growth potential
§ These latest holes and those from the 2020 and 2021 drill programme, along with drilling carried out by Gold Fields Limited (the previous owner and operator of the asset), are being used in the economic analysis as part of the Pre-Feasibility Study ('PFS') being undertaken to prove up and include the KEUG into the Company's future mine plans
§ Hummingbird will provide further progress updates on KEUG in its quarterly releases and its updated reserves statement scheduled for release later in the year
Dan Betts, CEO of Hummingbird Resources, commented:
"Together with these drill results, those from early April 2021 and 2020, continue to show excellent grades at depth, highlighting underground mining potential and life of mine extension at Yanfolila, Mali. Our technical teams are carrying out the mine design and schedules as part of a rigorous process to assess the economic viability of KEUG with the aim to include it in the Company's future mining plans.
"Our ongoing drill results continue to be very encouraging, from various deposits, and give us increasing confidence of adding life of mine potential at Yanfolila. There are multiple assays that we are awaiting results on, which we will update the market on in the coming months."
Murray Paterson, Chief Geologist of Hummingbird, commented:
"One of our objectives with this year's drilling was to prove mineralisation was still continuing both near surface and at depth under the northern end of the KE pit. Having achieved this, our focus for 2022 returns to targeting the continuity of the higher-grade areas at depth below the current base of the mineral resource model. It's an exciting time as we continue to build on some excellent geological work carried out over the past two years as we look to add more mineral resources and extend mine life for the Company."
2021 Komana East Drill Programme Summary
Following on from the successful 2020 resource extension drilling programme which tested the mineralisation under the central part of the KE pit, the 2021 programme has focussed on targeting the relatively untested northern portion of the KE ore body with the objective to add shallow and high-grade mineral resources for a future underground mining operation at KE. The 2020 drilling programme showed that the mineralisation was not closed off to the north and was likely to continue deeper and further north than previously modelled. The 2021 drill programme was designed to test and confirm the continuity and grade of the mineralisation.
The drill programme has been a success and has showed that mineralisation continues to plunge to the north and is open down dip from these current holes. Drill planning has already commenced for 2022 which will be designed to test for further extension to the high-grade zones below the current level of drilling with a view to add further mineral resources that can be exploited by the future underground operation.
Komana East selected drill results
Hole number | Depth from (m) | Depth to (m) | Intercept description |
KEUGDD015 | 156 | 161.2 | 5.2m @ 3.83 g/t |
KEUGDD015 | 170 | 172 | 2m @ 2.06 g/t |
KEUGDD016 | 173.85 | 177.35 | 3.5m @ 1.76 g/t |
KEUGDD017 | 172.8 | 176 | 3.2m @ 1.17 g/t |
KEUGDD017 | 205 | 213.8 | 8.8m @ 2.87 g/t |
KEUGDD018 | 217.8 | 219.35 | 1.55m @ 3.75 g/t |
KEUGDD018 | 242.7 | 244 | 1.3m @ 7.00 g/t |
KEUGDD018 | 247 | 248 | 1m @ 3.20 g/t |
KEUGDD018 | 254 | 255.5 | 1.5m @ 1.98 g/t |
KEUGDD019 | 205.65 | 208 | 2.35m @ 2.56 g/t |
KEUGDD020 | 250.4 | 251.65 | 1.25m @ 2.69 g/t |
KEUGDD021 | 224 | 226 | 2m @ 3.48 g/t |
KEUGDD022 | 204.5 | 208 | 3.5m @ 3.05 g/t |
KEUGDD022 | 231.6 | 235 | 3.4m @ 5.35 g/t |
KEUGDD023 | 264 | 270.5 | 6.5m @ 1.61 g/t |
KEUGDD024 | 265 | 268 | 3m @ 1.78 g/t |
KEUGDD025 | 251.6 | 256 | 4.4m @ 3.67 g/t |
KEUGDD025 | 274 | 280 | 6m @ 1.69 g/t |
KEUGDD026 | 208.88 | 211.8 | 2.92m @ 1.33 g/t |
KEUGDD026 | 213.22 | 217.59 | 4.37m @ 2.45 g/t |
KEUGDD026 | 239 | 242.59 | 3.59m @ 5.17 g/t |
KEUGDD027 | 249.8 | 252 | 2.2m @ 2.46 g/t |
KEUGDD027 | 260 | 264.75 | 4.75m @ 2.17 g/t |
KEUGDD028 | 261 | 267 | 6m @ 1.59 g/t |
KEUGDD029 | 248.1 | 256 | 7.9m @ 4.22 g/t |
KEUGDD032 | 237 | 239.4 | 2.4m @ 1.37 g/t |
Note: Minimum Interval 2m Trigger value 0.3 g/t
Komana East Drill Cross Section (Holes KEUGDD029 & KEUGDD022, and historic drilling)
Komana East 2020 and 2021 Drilling Programme
Example of KE mineralisation Hole KEUGDD029 - 7.9m @ 4.22g/t from 248.1m
Qualified Person Review:
Murray Paterson 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. 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 Edward Montgomery, CSO & ESG | Hummingbird Resources plc | Tel: +44 (0) 20 7409 6660 |
James Spinney Ritchie Balmer
| Strand Hanson Limited Nominated Adviser | Tel: +44 (0) 20 7409 3494 |
James Asensio Thomas Diehl | Canaccord Genuity Limited Broker | Tel: +44 (0) 20 7523 8000 |
Tim Blythe Megan Ray Rachael Brooks | Blytheweigh Financial PR/IR | Tel: +44 (0) 20 7138 3205 |
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'). Hummingbird's vision is to continue to grow its asset base, producing profitable ounces, while continuing to focus on its Environmental, Social & Governance ('ESG') policies and practices. The Company currently has two core gold projects, the producing Yanfolila Gold Mine in Mali, and the Kouroussa gold development 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.