Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHummingbird Resources Regulatory News (HUM)

  • There is currently no data for HUM

Update on the Dugbe Gold Project

11 Nov 2020 07:00

RNS Number : 8995E
Hummingbird Resources PLC
11 November 2020
ย 

Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining

ย 

11 November 2020

ย 

Hummingbird Resources plc

('Hummingbird' or the 'Company')ย 

ย 

Update on the Dugbe Gold Project

ย 

Hummingbird Resources plc (AIM:HUM) is pleased to provide the following update in relation to the Dugbe Gold Project (the "Project") in Liberia.

ย 

Our earn in partner, Pasofino Gold Ltd ("Pasofino") (TSX-VEIN), has released an update on the Project announcing that, under its direction, the Company has exercised its option to acquire the "Central License" located and encompassed centrally within the Project. For Pasofino release details and graphics please follow the link here. For further details on the option and earn-in agreement with Pasofino, please refer to the Company's RNS dated 4 June 2020.

ย 

Dan Betts, CEO of Hummingbird Resources, commented:

"We believe the acquisition of the Central License represents a significant project enhancement with exceptional prospectively. The area is well known for its artisanal gold workings and additionally benefits from a previous drilling dataset of high-grade intersections. This, coupled with our already large drilling dataset adds to our knowledge, development and exploration potential for the region." ย 

Central License Acquisition Highlights

ยง Increases license area:ย 

ยง The Central License adds an additional 210km2 to the Project's license area and forms the 'core' to the southern part of the Project

ยง The license includes an area known as 'Bukon Jedeh' located ~8 kms southeast of the Project's large Tuzon deposit

ยง Gold mining has reportedly taken place here since 1935 with extensive historical artisanal mining in the region supporting the view of being a highly prospective area

ยง Pasofino notes that approximately 16 km of prospective ground to be the area of focus for further exploration. Goal being to identify another open pit deposit that could be processed at the Tuzon-Dugbe mining complex once developed

ยง In 2012 and 2013, ASX listed, Equator Resources Limited ("Equator") carried out soil geochemistry and reverse circulation drilling within the Bukon Jedeh area

ยง 80 holes and approximately 6,500 metres were drilled producing significant results as shown by some key highlights below

ยง Highlights of historical drill results produced by Equator::ย 

ยง 2 m @ 61.80 g/t Au from 74 m (BRC050)

ยง 10 m @ 6.20 g/t Au from 11 M (BRC037)

ยง 7 m @ 5.69 g/t Au from 10 m (BRC019)

ยง 5 m @ 3.55 g/t Au from surface (BRC035)

ยง Total project area increased:ย 

ย 

ยง Total project area under license increases from 2,355 km2 ย to 2,565 km2

ย 

**ENDS**

ย 

For further information please visit www.hummingbirdresources.co.uk or contact:ย 

Daniel Betts, CEO

Thomas Hill, FD

Edward Montgomery, CSO & ESG

Hummingbird Resources plc

Tel: +44 (0) 20 7409 6660

James Spinney

Ritchie Balmer

James Bellman

Strand Hanson Limited

ย 

Nominated Adviser

Tel: +44 (0) 20 7409 3494

James Asensio

ย 

Canaccord Genuity Limited

ย 

Broker

Tel: +44 (0) 20 7523 8000

Tim Blythe

Megan Ray

Rachael Brooks

Blytheweigh

ย 

Financial PR/IR

Tel: ย +44 (0) 20 7138 3205

ย 

Notes to Editors:

Hummingbird Resourcesย (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold production, development and exploration company and member of theย World Gold Councilย ('WGC'). Our vision is to continue to grow our asset base, producing highly profitable ounces, while central to all we do being our Environmental, Social & Governance ('ESG') policies and practices. The Company currently has two core gold projects, theย Yanfolila Gold Mineย inย Mali, and the recently acquiredย Kouroussa Gold Projectย inย Guinea. Further, the company has a controlling interest in theย Dugbe Gold Projectย inย Liberiaย that is being developed by Pasofino Gold Limited through an earn-in agreement. Construction of the Yanfolila mine, was on time and on budget inย December 2017ย having produced to date in excess of 270 kozs (as end ofย July 2020). Mineable Reserves, as atย 31 October 2019ย Yanfolila were 7.9Mt of Reserve ore @ 2.66 g/t for 676,000ozs gold. Atย 31 March 2019ย Yanfolila had a total Resource base (inclusive of Reserves) of 28Mt of Ore @ 2.23 g/t for 2,005,300ozs gold.ย The Kouroussa Gold Projectย has a Mineral Resource base of 1.18Moz @ 3.08 g/t, which we are working on to be fast tracked to production, adding an additional c.100,000 oz of gold per annum to the Company's production profile. The Dugbe Gold Projectย has Resources currently totalling 4.2Moz of gold and a completed NI 43-101 compliant PEA on the project showing a 43% IRR andย US$337mย NPV at aย US$1,500ย gold price.

ย 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
ย 
END
ย 
ย 
UPDGPGMCGUPUGMU
Date   Source Headline
3rd Mar 20257:00 amRNSCancellation - Hummingbird Resources Plc
26th Feb 20257:00 amRNSUpcoming Final Day of Trading Reminder
21st Feb 20257:00 amRNSUpdate on Offer and Hummingbird Delisting Timings
18th Feb 20257:00 amRNSOffer Update Expected Final Day of Trading on AIM
6th Feb 20258:44 amRNSForm 8.5 (EPT/RI)
6th Feb 20258:00 amRNSRule 2.9 Announcement
5th Feb 20257:00 amRNSHummingbird Share Plan Exercise and TVR
4th Feb 20257:00 amRNSDay 21 Acceptance Level Update
31st Jan 20255:15 pmRNSUpdate on Cancellation of AIM Admission
31st Jan 20251:19 pmRNSReplacement: Acceptance Level Update
31st Jan 20257:00 amRNSAcceptance Level Update
27th Jan 20252:14 pmRNSForm 8.3 - Hummingbird Resources plc
23rd Jan 20252:31 pmRNSForm 8.3 - Hummingbird Resources plc
21st Jan 20251:05 pmRNSForm 8.3 - Hummingbird Resources plc
20th Jan 202512:34 pmRNSForm 8.3 - Hummingbird Resources plc
17th Jan 202512:06 pmRNSForm 8.3 - Hummingbird Resources PLC
16th Jan 20252:01 pmRNSForm 8.3 - Hummingbird Resources PLC
15th Jan 20256:28 pmRNSFinancing Agreement & Related Party Transaction
15th Jan 20251:37 pmRNSForm 8.3 - Hummingbird Resources PLC
15th Jan 20257:00 amRNSSigning of Mali Protocol
14th Jan 20252:16 pmRNSForm 8.3 - Hummingbird Resources PLC
13th Jan 20256:25 pmRNSPublication of Offer Document
13th Jan 20255:00 pmRNSUnconditional Recommended Cash Offer
13th Jan 20252:15 pmRNSForm 8.3 - Hummingbird Resources PLC
10th Jan 20253:44 pmRNSForm 8.3 - Hummingbird Resources PLC
9th Jan 20253:11 pmRNSForm 8.3 - Hummingbird Resources PLC
7th Jan 20255:01 pmRNSNotification of Major Holdings
7th Jan 20251:09 pmRNSForm 8 (DD) - Hummingbird
7th Jan 20258:00 amRNSRule 2.9 Announcement
2nd Jan 20253:46 pmRNSRecommended Offer to be declared unconditional
31st Dec 20247:00 amRNSCoris Loan Refinancing & Related Party Transaction
27th Dec 20247:00 amRNSTR1 Notification of Major Holdings
27th Dec 20247:00 amRNSForm 8 (DD)
24th Dec 202412:00 pmRNSCorporate Update
23rd Dec 202412:39 pmRNSResult of General Meeting and TVR
23rd Dec 20247:00 amRNSOperational and Financial Position Update
18th Dec 202410:59 amRNSForm 8.5 (EPT/RI)
16th Dec 20245:42 pmRNSRecommended Cash Offer
11th Dec 202412:32 pmRNSRule 8.3 of the Takeover Code
5th Dec 20244:12 pmRNSPublication of Circular and Notice of GM
4th Dec 20243:00 pmRNSExtension of PUSU Deadline
2nd Dec 20242:28 pmRNSPasofino Gold Announces New CEO
28th Nov 202410:10 amRNSForm 8 (DD) - Hummingbird/Nioko Resources
28th Nov 20247:00 amRNSSubscription Agreement
26th Nov 20249:48 amRNSForm 8.5 (EPT/RI)
25th Nov 20245:22 pmRNSForm 8.3 - Hummingbird resources plc
25th Nov 20247:00 amRNSCommercial Production Reached at Kouroussa
20th Nov 20243:15 pmRNSForm 8.3 - Hummingbird Resources Plc
20th Nov 20243:07 pmRNSForm 8.3 - Hummingbird Resources PLC
20th Nov 20243:05 pmRNSForm 8.3 - Hummingbird Resources PLC

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.