Last checked at 24 Nov 2011 07:00
RNS Number : 6793S
Hummingbird Resources PLC
24 November 2011
Hummingbird Resources plc
("Hummingbird" or the "Company") (AIM: HUM)
Latest results from Tuzon Project
Hummingbird Resources Plc is pleased to announce, prior to a site visit by analysts next week, excellent new drill results from its 100% owned Tuzon Project just 3km east of the 1.8 million ounce (1.4m Indicated and 0.4m Inferred) Dugbe F NI43-101 compliant resource. The twelve new holes have returned the Company's best gold intersections to date, beating the record recently set at Tuzon announced last month.
Tuzon Drill Highlights:
·; Multiple wide gold zones intersected in each hole (aggregated highlights included below with full list in appendix):
Hole 5 (TDC005)
44.88m @ 1.49 g/t Au
Hole 7 (TDC007)
64.06m @ 1.38 g/t Au
Hole 8 (TDC008)
85.96m @ 1.48 g/t Au
Hole 12 (TDC012)
75.43m @ 1.97 g/t Au
Hole 16 (TDC016)
125.44m @ 2.41 g/t Au
·; Continued strong arsenic intersections in 20 holes awaiting Au results.
The presence of gold mineralisation at Tuzon was first revealed by soil geochemistry earlier this year and has been tested by a total of 35 diamond holes over a 1 km strike length to date, with assays received so far for 15 holes. XRF arsenic results from the outstanding holes suggest that further broad mineralised intercepts have been encountered. Drilling is on-going and it is anticipated that drill data will be used to model a maiden Tuzon Resource in Q1 2012.
Regional Work
·; Multiple trench and soil programmes on-going across other licence areas including Sackor in the Joe Village licence.
Sackor is west along strike of Dugbe F and it has four main gold anomalies in soils. Ten trenches are currently being dug and the Company is awaiting full assay results back from them. Arsenic of a similar magnitude to both Dugbe F and Tuzon is being found along these trenches taken from handheld XRF machines at site. This is a further example of target generation to increase the resource through future drill programmes around the Dugbe F Project in 2012.
Follow the links below for maps of Tuzon drill holes and Sackor trench locations
http://www.rns-pdf.londonstockexchange.com/rns/6958S_2-2011-11-24.pdf
http://www.rns-pdf.londonstockexchange.com/rns/6958S_1-2011-11-24.pdf
Daniel Betts, CEO, commented today:
"These new results at Tuzon give us increased confidence that the Tuzon deposit will have significant scale in its own right, with what looks to be better grade and width of mineralised zones than has been found to date at Dugbe F. This is highly encouraging, given our anticipation that both deposits are within a mineable radius of each other and many more areas within this radius are yet to be fully explored. These recent results therefore have significant positive implications for the economics of such a gold mine. We are excited about the potential for producing a resource calculation at Tuzon in Q1 2012."
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. David Pelham is Technical Director of the Company and is a member of the Institute of Materials, Minerals and Mining.
ENDS
Enquiries:
Hummingbird Resources plc
Daniel Betts, Chief Executive Officer
Thomas Hill, Chief Financial Officer and Company Secretary
Robert Monro, Corporate Development +44 (0) 203 416 3560
Liberum Capital Limited
Nominated Adviser and Joint Broker
Tom Fyson / Richard Bootle +44 (0) 203 100 2222
Mirabaud Securities LLP
Joint Broker
Peter Krens +44 (0) 207 321 2508
Yellow Jersey PR Limited
Dominic Barretto
+44 (0) 7768 537739
Notes to Editors
Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Group has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia.
The Group's most advanced gold exploration has taken place in the Dugbe and Joe Village licences, with a recently upgraded gold resource at the Dugbe F Project of 43.01 million tonnes at 1.28 g/t Au to give 1,765,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade (Indicated Resource of 1,373,000 ounces of gold at 1.29 g/t Au and an Inferred Resource of 392,000 ounces of gold at 1.23 g/t Au). The exploration has been based on sound geological premises and has been executed in an efficient and practical manner according to best industry practices.
The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.
For more information, please visit www.hummingbirdresources.co.uk
Appendix
Assay Results
All holes were drilled at a 60-degree inclination to intercept mineralised zones at approximately right angles. Reported intercepts therefore approximate true intervals.
Calculated at 0.5 g/t Au cut-off, no upper cut-off | |||||
Hole ID | From | To | Interval (m) | Grade g/t Au | |
TDC001 | 9.34 | 0.61 | Aggregated | ||
0.61 | 6.00 | 5.39 | 0.60 | ||
9.08 | 10.00 | 0.92 | 0.88 | ||
20.00 | 21.00 | 1.00 | 0.52 | ||
43.00 | 44.03 | 1.03 | 0.58 | ||
45.00 | 46.00 | 1.00 | 0.54 | ||
TDC002 | 31.03 | 1.33 | Aggregated | ||
3.10 | 11.00 | 7.90 | 1.03 | ||
12.00 | 14.00 | 2.00 | 2.05 | ||
25.00 | 26.00 | 1.00 | 0.58 | ||
32.00 | 36.35 | 4.35 | 2.61 | ||
36.86 | 39.95 | 3.09 | 1.63 | ||
41.00 | 41.96 | 0.96 | 0.86 | ||
51.05 | 60.00 | 8.95 | 1.00 | ||
61.00 | 62.78 | 1.78 | 1.01 | ||
99.00 | 100.00 | 1.00 | 0.58 | ||
TDC003 | 56.17 | 1.38 | Aggregated | ||
100.00 | 101.00 | 1.00 | 0.88 | ||
102.00 | 110.52 | 8.52 | 1.89 | ||
113.00 | 135.00 | 22.00 | 1.31 | ||
136.00 | 138.00 | 2.00 | 0.68 | ||
145.00 | 148.00 | 3.18 | 1.95 | ||
149.07 | 155.82 | 6.75 | 1.44 | ||
168.84 | 171.04 | 2.20 | 1.09 | ||
172.79 | 183.31 | 10.52 | 1.16 | ||
TDC004 | no significant results | Aggregated | |||
TDC005 | 44.88 | 1.49 | |||
41.00 | 42.00 | 1.00 | 0.87 | ||
44.00 | 55.00 | 11.00 | 1.27 | ||
57.00 | 58.00 | 1.00 | 2.46 | ||
78.20 | 79.10 | 0.90 | 0.58 | ||
80.10 | 110.08 | 29.98 | 1.56 | ||
157.00 | 158.00 | 1.00 | 2.37 | ||
TDC006 | 1.91 | 1.12 | Aggregated | ||
50.03 | 51.00 | 0.97 | 1.45 | ||
63.00 | 63.94 | 0.94 | 0.77 | ||
TDC007 | 52.77 | 1.42 | Aggregated | ||
105.60 | 106.68 | 1.08 | 0.78 | ||
109.81 | 110.83 | 1.02 | 0.60 | ||
117.00 | 118.00 | 1.00 | 1.44 | ||
119.04 | 120.00 | 0.96 | 0.50 | ||
121.00 | 122.06 | 1.06 | 0.52 | ||
123.11 | 124.00 | 0.89 | 1.36 | ||
128.74 | 131.83 | 3.09 | 1.17 | ||
134.00 | 139.50 | 5.50 | 1.82 | ||
141.94 | 148.98 | 7.04 | 1.49 | ||
151.07 | 163.04 | 11.97 | 1.79 | ||
218.00 | 219.00 | 1.00 | 0.51 | ||
219.92 | 233.00 | 13.08 | 1.55 | ||
233.67 | 235.50 | 1.83 | 0.70 | ||
237.75 | 241.00 | 3.25 | 0.64 | ||
270.22 | 273.00 | 2.78 | 0.83 | ||
275.00 | 277.00 | 2.00 | 0.77 | ||
279.23 | 280.07 | 0.84 | 0.77 | ||
283.84 | 284.46 | 0.62 | 1.20 | ||
316.00 | 321.05 | 5.05 | 1.60 | ||
TDC008 | 85.96 | 1.48 | Aggregated | ||
66.55 | 69.46 | 2.91 | 2.03 | ||
73.50 | 74.32 | 0.82 | 1.27 | ||
81.00 | 81.75 | 0.75 | 1.09 | ||
82.40 | 83.10 | 0.70 | 0.94 | ||
133.00 | 134.10 | 1.10 | 0.60 | ||
135.00 | 142.00 | 7.00 | 1.86 | ||
149.00 | 150.00 | 1.00 | 0.71 | ||
158.10 | 158.95 | 0.85 | 2.21 | ||
167.64 | 168.53 | 0.89 | 0.52 | ||
169.49 | 183.48 | 13.99 | 1.74 | ||
186.37 | 192.71 | 6.34 | 2.01 | ||
196.71 | 199.61 | 2.90 | 1.12 | ||
204.62 | 207.67 | 3.05 | 0.83 | ||
208.64 | 212.50 | 3.92 | 0.73 | ||
213.56 | 218.75 | 5.19 | 1.95 | ||
222.46 | 225.71 | 3.25 | 0.84 | ||
227.65 | 243.25 | 15.60 | 1.34 | ||
244.35 | 250.50 | 6.15 | 1.10 | ||
254.45 | 256.44 | 1.99 | 0.61 | ||
292.00 | 293.00 | 1.00 | 0.51 | ||
294.04 | 296.90 | 2.86 | 1.43 | ||
297.50 | 299.40 | 1.90 | 1.04 | ||
301.44 | 302.24 | 1.80 | 4.27 | ||
TDC009 | no significant results | ||||
TDC010 | 4.00 | 1.25 | Aggregated | ||
28.00 | 32.00 | 4.00 | 1.25 | ||
TDC011 | 8.54 | 1.23 | Aggregated | ||
0.00 | 0.74 | 0.74 | 0.51 | ||
2.30 | 5.10 | 2.80 | 0.88 | ||
6.80 | 10.80 | 4.00 | 1.50 | ||
20.00 | 21.00 | 1.00 | 1.70 | ||
TDC012 | 75.43 | 1.97 | Aggregated | ||
23.00 | 24.00 | 1.00 | 0.98 | ||
28.00 | 31.00 | 3.00 | 1.28 | ||
37.00 | 38.10 | 1.10 | 0.52 | ||
39.00 | 55.10 | 16.10 | 1.76 | ||
75.00 | 93.50 | 18.50 | 2.47 | ||
95.10 | 117.17 | 22.07 | 2.47 | ||
167.37 | 168.49 | 1.12 | 1.11 | ||
176.00 | 177.00 | 1.00 | 0.50 | ||
178.00 | 180.90 | 2.90 | 0.85 | ||
186.10 | 187.10 | 1.00 | 0.64 | ||
189.56 | 194.10 | 4.54 | 1.36 | ||
196.10 | 197.00 | 0.90 | 1.03 | ||
199.70 | 201.80 | 2.20 | 1.10 | ||
TDC013 | 13.11 | 1.32 | Aggregated | ||
60.00 | 61.00 | 1.00 | 0.64 | ||
70.00 | 71.10 | 1.10 | 0.50 | ||
84.00 | 85.24 | 1.24 | 0.97 | ||
91.25 | 95.00 | 3.75 | 1.62 | ||
100.00 | 103.83 | 3.83 | 1.75 | ||
104.81 | 106.00 | 1.19 | 1.19 | ||
149.00 | 150.00 | 1.00 | 0.76 | ||
TDC014 | no significant values | ||||
TDC015 | assays pending | ||||
TDC016 | 125.44 | 2.41 | Aggregated | ||
0.00 | 22.48 | 22.48 | 1.84 | ||
23.30 | 32.00 | 8.70 | 1.37 | ||
33.10 | 34.00 | 0.90 | 0.65 | ||
35.00 | 37.00 | 2.00 | 0.63 | ||
44.15 | 45.00 | 0.85 | 0.50 | ||
46.00 | 48.00 | 2.00 | 0.55 | ||
49.00 | 51.00 | 2.00 | 0.73 | ||
52.03 | 53.00 | 0.97 | 0.76 | ||
54.00 | 65.15 | 11.15 | 1.87 | ||
66.08 | 68.00 | 1.92 | 0.89 | ||
69.08 | 71.66 | 2.58 | 1.02 | ||
82.02 | 83.00 | 0.98 | 0.65 | ||
84.00 | 85.00 | 1.00 | 0.63 | ||
97.00 | 98.00 | 1.00 | 0.89 | ||
99.00 | 103.00 | 4.00 | 0.95 | ||
104.75 | 115.00 | 10.25 | 9.26 | ||
116.00 | 117.19 | 1.19 | 0.97 | ||
118.18 | 119.10 | 0.92 | 1.48 | ||
120.03 | 120.95 | 0.92 | 0.86 | ||
134.00 | 137.00 | 3.00 | 1.75 | ||
142.00 | 143.68 | 1.68 | 1.73 | ||
144.91 | 151.00 | 6.09 | 6.56 | ||
152.00 | 153.00 | 1.00 | 0.58 | ||
154.00 | 155.00 | 1.00 | 1.30 | ||
158.00 | 161.08 | 3.08 | 0.69 | ||
162.08 | 164.00 | 1.92 | 0.99 | ||
191.06 | 192.12 | 1.06 | 1.43 | ||
193.00 | 197.08 | 4.08 | 0.77 | ||
213.00 | 214.05 | 1.05 | 0.53 | ||
215.00 | 226.00 | 11.00 | 1.58 | ||
228.03 | 242.70 | 14.67 | 2.54 | ||
Drill Collar Data
Hole ID | Proposed Hole ID | EUTM Survey | NUTM Survey | RL Survey | Local E | Local N | DIP | AZ | EOH | Start Date | End Date |
TDC001 | TPH001 | 554794.784 | 562677.495 | 121.400 | -1427 | 800 | -60 | 295 | 150.1 | 17/08/2011 | 19/08/2011 |
TDC002 | TPH002 | 554941.819 | 562611.479 | 114.391 | -1266 | 800 | -60 | 295 | 122 | 20/08/2011 | 22/08/2011 |
TDC003 | TPH003 | 555072.135 | 562533.487 | 111.472 | -1116 | 800 | -60 | 295 | 188.1 | 23/08/2011 | 26/08/2011 |
TDC004 | TPH004 | 555229.202 | 562482.883 | 113.569 | -951 | 800 | -60 | 295 | 260 | 26/08/2011 | 02/09/2011 |
TDC005 | TPH022 | 554875.144 | 562473.915 | 131.843 | -1268 | 640 | -60 | 295 | 233.1 | 26/08/2011 | 30/08/2011 |
TDC006 | TPH021 | 554732.597 | 562531.638 | 113.864 | -1422 | 640 | -60 | 295 | 92.1 | 01/09/2011 | 03/09/2011 |
TDC007 | TPH006 | 555153.806 | 562685.833 | 116.660 | -1112 | 640 | -60 | 295 | 326 | 02/09/2011 | 11/09/2011 |
TDC008 | TPH023 | 555014.632 | 562402.073 | 106.651 | -1106 | 960 | -60 | 295 | 312.1 | 05/09/2011 | 12/09/2011 |
TDC009 | TPH007 | 555304.535 | 562634.661 | 125.089 | -948 | 960 | -60 | 295 | 341 | 12/09/2011 | 26/09/2011 |
TDC010 | TPH005 | 555007.990 | 562766.793 | 110.473 | -1272 | 960 | -60 | 295 | 146.1 | 13/09/2011 | 15/09/2011 |
TDC011 | TPH008 | 555077.486 | 562907.817 | 134.258 | -1269 | 1120 | -60 | 295 | 77 | 16/09/2011 | 17/09/2011 |
TDC012 | TPH009 | 555208.404 | 562836.733 | 120.122 | -1120 | 1120 | -60 | 295 | 210.5 | 19/09/2011 | 23/09/2011 |
TDC013 | TPH010 | 555352.705 | 562735.914 | 121.724 | -948 | 1120 | -60 | 295 | 230.1 | 23/09/2011 | 08/10/2011 |
TDC014 | TPH012 | 555147.981 | 563039.918 | 127.348 | -1261 | 1280 | -60 | 295 | 104.6 | 26/09/2011 | 30/09/2011 |
TDC015 | TPH013 | 555294.190 | 562981.236 | 120.084 | -1104 | 1280 | -60 | 295 | 251.4 | 30/09/2011 | 05/10/2011 |
TDC016 | TPH016 | 555354.861 | 563126.926 | 117.807 | -1110 | 1440 | -60 | 295 | 242.7 | 05/10/2011 | 11/10/2011 |
This information is provided by RNS
The company news service from the London Stock Exchange
END