TIDMHUM
RNS Number : 1203W
Hummingbird Resources PLC
20 December 2021
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
20 December 2021
Hummingbird Resources plc
("Hummingbird" or the "Company")
Yanfolila Drilling Update
Drilling Results Show Life of Mine Extension Potential
Continues
Hummingbird Resources plc (AIM:HUM) provides an update on its
extensive 2021 exploration drilling programme at the Sanioumale
West ("SW") and greenfield deposits, Kama and Diaban, at the
Yanfolila gold mine ("Yanfolila") in Mali. For the full release,
including graphics, please follow the link here
http://www.rns-pdf.londonstockexchange.com/rns/1203W_1-2021-12-19.pdf
The Company notes further assays have recently been received
from the Sanioumale East deposit drilling campaign at Yanfolila
which, once fully reviewed, are expected to be reported in Q1
2022.
Highlights
-- The Company has received and analysed c.12,800 meters ("m")
of multiple assays from the SW deposit and assays from the initial
drilling completed at greenfield deposits Kama and Diaban at
Yanfolila
-- Results show significant grade and depth, such as 8 metres
("m") at 20.82 grams a ton ("g/t") at the SW deposit, highlighting
upside potential to the deposits' current Resources and Reserves
profile (164,200 ounces ("oz") and 50,400 oz respectively)
-- Kama and Diaban are two new greenfield targets receiving
their first round of drill testing, showing the potential to
establish new resources at these deposits
-- Notable drill results from the SW deposit include:
-- 8m at 20.28 g/t from 61m (SNWRC0482)
-- 7m at 12.18 g/t from 14m (SNWRC0506)
-- 6m at 5.53 g/t from 76m (SNWRC0514)
-- 7m at 4.98 g/t from 40m (SNWRC0507)
-- 5m at 3.72 g/t from 40m (SNWRC0482)
-- 6m at 3.67 g/t from 72m (SNWRC0490)
-- 31m at 3.32 g/t from 55m (SNWRC0500)
-- 20m at 2.96 g/t from 23m (SNWRC0501)
-- 7m at 2.91 g/t from 165m (SNWRC0494)
-- 5m at 2.57 g/t from 78m (SNWRC0491)
-- 15m at 2.59 g/t from 97m (SNWRC0506)
-- 5m at 2.02 g/t from 13m (SNWRC0483)
-- Notable initial drill results from the Kama and Diaban
deposits include:
-- 4m at 4.47 g/t from 59m (KARC0020)
-- 3m at 3.87 g/t from 35m (KARC0019)
-- 1m at 4.0 g/t from 23m (DBRC0049)
-- 1m at 2.11 g/t from 16m (KARC0002)
-- The 2021 SW drilling has been focussed on extending the
Inferred Mineral Resources and testing for additional and new
Mineral Resources extensions. To date, the SW drill results show
high-grade mineralisation exists and remains open at depth
-- Greenfield drilling is at the reconnaissance stage at the
Kama and Diaban deposits where the focus has been on testing for
mineral resource potential and testing of gold mineralisation along
a prospective regional structure respectively. The Greenfield
drilling results show:
o Gold mineralisation exists at Kama and is open to the
north
o Successfully intersected new zones of gold mineralisation at
the Diaban deposit, proof that the regional structure is gold
bearing
-- The Company is analysing future exploration potential in
these areas, in particular at Kama, to further prove up their
resource potential
-- The Company has now completed its extensive 44,000m 2021
exploration drilling programme at Yanfolila. This year's drilling
programme will feed into the Company's updated 2022 Resources and
Reserves statements, scheduled for release in Q2 2022
Dan Betts, CEO of Hummingbird Resources, commented:
"Yanfolila currently hosts a sizable Resources and Reserves
profile of 1.93 million oz and 705,800 oz respectfully. With
today's positive drilling results from SW, in addition to the
greenfield drilling results, we see potential for additional
Resources and Reserves growth, taking us one step closer to the
Company's strategic goal of achieving a +10-year Reserve mine life
at Yanfolila."
Noris Del Bel Belluz, Group Technical Services Manager of
Hummingbird Resources, commented:
"These results continue to show the potential for ongoing
increases in Resources and Reserves at Yanfolila. Now that this
year's extensive drilling campaign at Yanfolila has concluded, our
geology team is interpreting these assay results, and those to
come, to delineate additional Reserve and Resource ounces for the
exploration drilling campaign in 2022, all of which will be
included in our updated 2022 Company Resources and Reserves
statement, scheduled for release in Q2 2022."
2021 SW drill programme summary
Following on from the successful 2020 mineral resource infill
drill programme at SW, the focus for the 2021 drilling has been to
follow up on the open-ended mineralisation that could lead to
further open pit extensions, and which would increase the mineable
reserves available to add to the operation's life of mine ("LOM")
plan. 44 holes were drilled and as per the included sections, these
were targeting down dip or along strike extensions below the
current pit design or below the base of the modelled inferred
mineral resources.
Due to the targeted nature of the drilling, many good
intersections were recorded. Only the higher-grade southern portion
of the 2.5-kilometre-long SW structure was drilled tested, with
further drilling required to infill the northern portions of the
structure and continue drill testing at depth of the higher-grade
zones along the southern end of the SW structure.
The current Mineral Resources at SW are made up of a significant
portion of lower grade material ideally suited to heap leaching, as
shown in recent bottle roll metallurgical test work. By including
and targeting these lower grade resources in addition to the high
grade CIL feed material, there exist many targets to continue
growing the mineral resource and its mineable reserves. Drill
testing at SW is still relatively shallow. An increased
understanding of the mineralisation controls and gold distribution
at deposit will assist in its growth as an important ore source for
the operation, which has recently started to be mined.
2021 Greenfield drill programme summary - Kama & Diaban
As part of the LOM extension strategy, two new targets, Kama and
Diaban, were drill tested to evaluate their Mineral Resource
potential.
At Kama, where historical shallow artisanal workings existed
along the same structure hosting the Soloba mineralisation and the
Komana West deposit, 21 RC holes on a line spacing of 80m were
drilled for 1,800m. In each drill section, narrow zones of
mineralisation were intersected, confirming the existence of a
mineralised system underlying the area. The third and northern most
drill section intersected two shallow and separate mineralised
intervals that remain open to the north and not drill tested to
date.
The Diaban drilling was testing a conceptual target over a
1.5-km-long portion of the regional Siekorole Shear Zone (near its
intersection with the Sankarani Shear Zone upon which Gonka, Komana
East and Sanioumale East deposits are located). This drilling
intersected gold mineralisation, a highly positive sign that the
structure is connected to a mineralised system. Further study and
analysis of the drill results, the RC chips and exploration data
sets is required before further follow up drilling can be planned
in 2022.
SW selected drill results
Depth from Depth to
Hole ID (m) (m) Intercept description
SNWRC0482 10 12 2m @ 4.30 g/t
----------- --------- ----------------------
SNWRC0482 40 45 5m @ 3.72 g/t
----------- --------- ----------------------
8m @ 20.28
SNWRC0482 61 69 g/t
----------- --------- ----------------------
SNWRC0483 13 18 5m @ 2.02 g/t
----------- --------- ----------------------
SNWRC0484 51 60 9m @ 1.77 g/t
----------- --------- ----------------------
20m @ 1.76
SNWRC0485 41 61 g/t
----------- --------- ----------------------
SNWRC0485 77 85 8m @ 2.37 g/t
----------- --------- ----------------------
SNWRC0486 176 177 1m @ 9.04 g/t
----------- --------- ----------------------
20m @ 0.89
SNWRC0489 30 50 g/t
----------- --------- ----------------------
SNWRC0490 72 78 6m @ 3.67 g/t
----------- --------- ----------------------
14m @ 0.76
SNWRC0491 39 53 g/t
----------- --------- ----------------------
SNWRC0491 78 83 5m @ 2.57 g/t
----------- --------- ----------------------
SNWRC0491 93 97 4m @ 2.22 g/t
----------- --------- ----------------------
21m @ 0.78
SNWRC0493 95 116 g/t
----------- --------- ----------------------
25m @ 1.08
SNWRC0494 54 79 g/t
----------- --------- ----------------------
SNWRC0494 165 172 7m @ 2.91 g/t
----------- --------- ----------------------
14m @ 0.68
SNWRC0495 94 108 g/t
----------- --------- ----------------------
18m @ 1.97
SNWRC0495 132 150 g/t
----------- --------- ----------------------
SNWRC0499 12 19 7m @ 1.59 g/t
----------- --------- ----------------------
31m @ 3.32
SNWRC0500 55 86 g/t
----------- --------- ----------------------
20m @ 2.96
SNWRC0501 23 43 g/t
----------- --------- ----------------------
11m @ 1.57
SNWRC0502 72 83 g/t
----------- --------- ----------------------
7m @ 12.18
SNWRC0506 14 21 g/t
----------- --------- ----------------------
15m @ 2.59
SNWRC0506 97 112 g/t
----------- --------- ----------------------
SNWRC0507 40 47 7m @ 4.98 g/t
----------- --------- ----------------------
SNWRC0508 31 36 5m @ 2.35 g/t
----------- --------- ----------------------
SNWRC0509 100 108 8m @ 1.89 g/t
----------- --------- ----------------------
13m @ 0.76
SNWRC0512 16 29 g/t
----------- --------- ----------------------
SNWRC0514 76 82 6m @ 5.53 g/t
----------- --------- ----------------------
10m @ 2.20
SNWRC0515 26 36 g/t
----------- --------- ----------------------
Minimum Interval 1 m Trigger 0.5 g/t (Max 5 m Int Waste)
Greenfield selected drill results
Kama
Depth from Depth to
Hole Number (m) (m) Intercept description
KARC0002 16 17 1m @ 2.11 g/t
----------- --------- ----------------------
KARC0008 45 46 1m @ 1.51 g/t
----------- --------- ----------------------
KARC0008 53 56 3m @ 0.60 g/t
----------- --------- ----------------------
KARC0019 35 38 3m @ 3.87 g/t
----------- --------- ----------------------
KARC0020 59 63 4m @ 4.47 g/t
----------- --------- ----------------------
Minimum Interval 1 m Trigger 0.5 g/t (Max 5 m Int Waste)
Diaban
Depth from Depth to
Hole Number (m) (m) Intercept description
DBRC0019 10 12 2m @ 0.85 g/t
----------- --------- ----------------------
DBRC0023 4 5 1m @ 0.92 g/t
----------- --------- ----------------------
DBRC0029 107 110 3m @ 1.53 g/t
----------- --------- ----------------------
DBRC0040 18 19 1m @ 0.75 g/t
----------- --------- ----------------------
DBRC0049 23 24 1m @ 4.00 g/t
----------- --------- ----------------------
Minimum Interval 1 m Trigger 0.5 g/t (Max 5 m Int Waste)
Qualified Person Review:
David Muir, 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. David is the
Group Database Manager for Hummingbird, and is a "Competent
Person", according to the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves ("JORC
Code, 2012 Edition") and is a member of good standing with the
Australian Institute of Geoscientists (AIG).
**ENDS**
Notes to Editors:
Hummingbird Resources (AIM: HUM) is a multi-asset,
multi-jurisdiction gold production, development and exploration
Company, member of the World Gold Council and founding member of
Single Mine Origin ( www.singlemineorigin.com ). The Company
currently has two core gold projects, the operational Yanfolila
Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea, which
will more than double current gold production when in production,
scheduled for first gold pour end of Q2 2023. 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. Our vision is to continue to grow our asset base,
producing profitable ounces, while placing our Environmental,
Social & Governance ('ESG') policies and practices at the heart
of all we do
For further information please visit https://www.hummingbirdresources.co.uk/ or contact:
Daniel Betts, Hummingbird Resources Tel: +44 (0) 20 7409
CEO plc 6660
Thomas Hill,
FD
Anthony Köcken
, COO
Edward Montgomery,
CSO & ESG
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer Nominated Adviser 3494
-------------------------- ----------------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523
Thomas Diehl Broker 8000
-------------------------- ----------------------------
Bobby Morse Buchanan Tel: +44 (0) 20 7466
Ariadna Peretz Financial PR/IR 5000
James Husband Email: HUM@buchanan.uk.com
-------------------------- ----------------------------
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