Last checked at 29 Aug 2017 07:00
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
Hummingbird Resources plc ("Hummingbird Resources" or "Hummingbird" or "the Company")
Mining Operations Commence at Yanfolila Gold Project in Mali
Hummingbird Resources (AIM: HUM) is pleased to announce that pre-production mining has commenced on schedule at its Yanfolila Gold Project in Mali ("Yanfolila" or "the Project") which is on track for its first gold pour by the end of 2017.
Highlights
· Pre-production mining by contract fleet, African Mining Services ("AMS") has commenced on schedule
· Ore to be stockpiled in advance of its introduction to the process plant in Q4 2017
· Process plant construction and associated infrastructure remain on budget and schedule - commissioning anticipated in Q4 2017
· Yanfolila is forecast to produce 132,000oz gold in its first full year of production at a Life of Mine ("LoM") All in Sustaining Cost ("AISC") of US$695/oz
· Average production of 107,000oz/year of gold over the Life of Mine in tandem with exploration and development initiatives to expand the current mine plan
Dan Betts, CEO of Hummingbird, commented: "Commencement of mining activities at Yanfolila is a significant milestone for Hummingbird as we continue to bring the Project closer to production by the end of this year. Our contract mining partners, AMS, have mobilised a significant fleet to site and this commitment emphasises the momentum the Project has gained throughout the year.
"As we enter the final months of construction we remain on time and budget for first gold by the end of 2017. We will look to build on the current momentum as we ramp up to full scale mining and production."
To see our latest images from site please click on the following link; http://hummingbirdresources.co.uk/gallery/mali
Further Information
Pre-production mining is now underway and due to ramp up over the next three months as Hummingbird approaches full scale operations. By the end of November it is anticipated that over three million tonnes of material will have been moved. AMS currently has the following equipment on site at Yanfolila:
· 1 x Liebherr 9150 Excavator
· 1 x Liebherr 9250 Excavator
· 6 x Caterpillar 777s
· 5 x Caterpillar D9 Dozers
· 1 x Caterpillar 336 Excavator
· 2 x Caterpillar 980 FEL
During the first phase of mining there will be areas of free dig material as well as material that will require light blasting. Blasting will be conducted using non-electric down hole delay detonators with ammonium nitrate, fuel oil (ANFO) for dry holes and emulsion explosives for wet holes. AEL Mining Services will provide an explosive storage and supply service to the mining contractor.
Advanced grade control drilling to better delineate the orebody and improve planning and ore scheduling to the mill is ongoing together with state of the art Trimble differential GPS and Pix 4D drone mapping for survey and volumetric calculations.
Minesched software is being used for short-term and life of mine scheduling with Blockbuster software being used to update the ore reserve model with advance grade control drilling assay results.
**ENDS**
For further information, please visit www.hummingbirdresources.co.uk or contact:
Daniel Betts Thomas Hill Robert Monro | Hummingbird Resources plc | Tel: +44 (0)20 3416 3560 |
James Spinney Ritchie Balmer James Bellman | Strand Hanson Limited Nominated & Financial Adviser | Tel: +44 (0) 20 7409 3494
|
Jon Belliss | Beaufort Securities Limited Broker | Tel: +44 (0) 20 7382 8300 |
Lottie Brocklehurst Susie Geliher | St Brides Partners Ltd Financial PR/IR | Tel: +44 (0) 20 7236 1177 |
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.
About Hummingbird Resources Plc
Notes to Editors
Hummingbird Resources (AIM: HUM) is building a leading gold production, development and exploration company. The Company has two core gold projects, the near-term production Yanfolila Gold Project in Mali and the Dugbe Gold Project in Liberia. It is currently building Yanfolila targeting first production by end of 2017, which has a Probable Reserve 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 high-grade gold project has low operating costs of US$695/oz AISC with 132,000oz of first full year's production.
The 4.2Moz Dugbe Gold Project in Liberia provides Hummingbird with excellent development upside. An optimisation of the DFS is on-going whilst Yanfolila is brought to production in the near-term. Additionally, the Company has 4,000km2 highly prospective exploration ground in Mali and Liberia and is constantly evaluating new quality assets.