TIDMHUM
RNS Number : 9021X
Hummingbird Resources PLC
10 January 2022
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
10 January 2022
Hummingbird Resources plc
('Hummingbird' or the 'Company')
Kouroussa Update
Kouroussa construction Begins & Ongoing High-Grade Drilling
Data Received
Hummingbird Resources plc (AIM: HUM) provides an update on t he
Company's mine development progress and results from further assays
of the 2021 Resources and Reserves infill drilling programme,
including a notable hole of 24 meters ("m") at 5.33 grams per tonne
("g/t") amongst others, at the Kouroussa Gold Mine ("Kouroussa" or
"the Project") in Guinea.
For the full release, including photos and graphics, please
follow the link here
http://www.rns-pdf.londonstockexchange.com/rns/9021X_1-2022-1-10.pdf
.
Kouroussa Construction Begins:
Construction at Kouroussa has commenced following the
mobilisation of equipment and personnel in December 2021. Key
construction developments include (see photos below for more
details):
-- Commencement of ground clearing works for key infrastructure,
mine camp and processing plant
-- Further long lead item purchases are being finalised,
including: SAG mill; jaw crusher; ore feeders; agitators;
interstage screens; tower crane; and cyclone cluster
-- The pit dewatering team is on site, and works have commenced
to further stabilise the key mining deposits for future mining
operations
-- Construction equipment, tooling, machinery, and consumables
continue to arrive and are in position on site for the overall
build process
-- Process plant civil works are scheduled to commence in
February once more ground clearing works are completed
Kouroussa Drilling Highlights :
Hummingbird has received further assay results on 30 Reverse
Circulation ("RC") and three diamond holes on the high-grade Koekoe
("KK") deposit, delivering approximately 3,200 meters out of the
Company's c.24,000m infill drilling programme for 2021. To date,
the Company has received c.10,050m of assays from the 2021
programme, with more expected in Q1 2022.
-- Notable drill results from the KK deposit include:
-- 24m at 5.33 g/t from 28m (KRC1873)
-- 3m at 16.06 g/t from 118m (KRC1890)
-- 3m at 11.64 g/t from 55m (KRC1803)
-- 4m at 10.31 g/t from 89m (KRC1858)
-- 4m at 9.09 g/t from 49m (KRC1858)
-- 4m at 9.76 g/t from 146m (KRCD1878)
-- 2m at 8.48 g/t from 25m (KRC1824)
-- 8m at 7.77 g/t from 95m (KRC1864)
-- 4m at 6.17 g/t from 99m (KRC1890)
-- 4m at 4.28 g/t from 35m (KRC1854)
-- 8m at 3.22 g/t from 56m (KRC1874)
-- The Company continues to receive ongoing high-grade drill
intercepts, coupled with multiple thick mineralisation zones, from
our infill drilling campaign completed in 2021
-- These updated results continue to provide increasing
confidence and geological knowledge of the high-grade nature of
Kouroussa's key deposit KK
-- The KK deposit has a current maiden Reserve of 408,900 ounces
("oz") at 4.38 g/t, with upside potential once all the 2021
c.24,000 m infill drilling data is analysed, and which will feed
into our updated Company 2022 Resources and Reserves statements
that are scheduled for release in Q2 2022
Political developments in Mali:
Additionally, the Company notes the announcement yesterday of
sanctions imposed on Mali, with immediate effect, by ECOWAS
("Economic Community of West African States"), in response to the
Government of Mali's proposed timetable to hold elections. The
sanctions pertain to restrictions on the movement of cash, people
and goods, across borders, into and out of Mali from the wider
ECOWAS region. The Company is evaluating the immediate risks to our
supply chain and whilst all plans will be made to minimise the
potential impact it is too early to say how these sanctions may
potentially affect our business. Further updates will be provided
as and when appropriate.
Dan Betts, CEO of Hummingbird Resources, commented:
"We are pleased by the continued progress at Kouroussa and the
commencement of construction, following the deployment of key
equipment and construction personnel in December 2021. This marks
another significant step towards our strategic goal of becoming a
multi-jurisdictional gold producer.
Furthermore, our infill drilling programme from 2021 has
continued to show significant high-grade intervals, allowing us to
further strengthen our knowledge base of the Kouroussa asset. This
data will be analysed by our technical team and provide a core
component of our updated Company 2022 Resources and Reserves
statements, scheduled for release in Q2 this year."
Noris Del Bel Belluz, Group Technical Services Manager of
Hummingbird Resources, commented:
"We continue to receive high-grade infill drilling results for
Kouroussa's key deposit Koekoe, giving us increasing confidence in
the asset's geology and grade profile. We are busy assessing the
data, which will be key contributors to the upcoming Resources and
Reserves update and will play a pivotal role in Kouroussa's future
mine plans."
Koekoe selected drill results
Hole ID Depth From (m) Depth To (m) Intercept Description
KRC1798 26 30 4m at 1.79 g/t
--------------- ------------- ----------------------
KRC1803 55 58 3m at 11.64 g/t
--------------- ------------- ----------------------
KRC1805 5 7 2m at 2.54 g/t
--------------- ------------- ----------------------
KRC1808 45 46 1m at 10.72 g/t
--------------- ------------- ----------------------
KRC1808 71 80 9m at 2.30 g/t
--------------- ------------- ----------------------
KRC1808 87 90 3m at 2.45 g/t
--------------- ------------- ----------------------
KRC1822 22 23 1m at 5.81g/t
--------------- ------------- ----------------------
KRC1824 25 27 2m at 8.48 g/t
--------------- ------------- ----------------------
KRC1824 67 68 1m at 5.11g/t
--------------- ------------- ----------------------
KRC1827 106 116 10m at 1.94 g/t
--------------- ------------- ----------------------
KRC1848 10 12 2m at 4.03 g/t
--------------- ------------- ----------------------
KRC1852 51 53 2m at 4.40 g/t
--------------- ------------- ----------------------
KRC1854 35 39 4m at 4.28 g/t
--------------- ------------- ----------------------
KRC1854 56 63 7m at 1.52 g/t
--------------- ------------- ----------------------
KRC1855 20 24 4m at 1.44 g/t
--------------- ------------- ----------------------
KRC1855 29 32 3m at 3.34 g/t
--------------- ------------- ----------------------
KRC1858 49 53 4m at 9.09 g/t
--------------- ------------- ----------------------
KRC1858 89 93 4m at 10.31 g/t
--------------- ------------- ----------------------
KRC1864 70 71 1m at 4.76 g/t
--------------- ------------- ----------------------
KRC1864 95 103 8m at 7.77 g/t
--------------- ------------- ----------------------
KRC1871 63 69 6m at 2.64 g/t
--------------- ------------- ----------------------
KRC1873 28 52 24m at 5.33 g/t
--------------- ------------- ----------------------
KRC1874 24 26 2m at 2.61 g/t
--------------- ------------- ----------------------
KRC1874 34 39 5m at 2.72 g/t
--------------- ------------- ----------------------
KRC1874 56 64 8m at 3.22 g/t
--------------- ------------- ----------------------
KRC1874 60 64 4m at 1.59 g/t
--------------- ------------- ----------------------
KRC1890 99 103 4m at 6.17 g/t
--------------- ------------- ----------------------
KRC1890 118 121 3m at 16.06 g/t
--------------- ------------- ----------------------
KRC1920 19 20 1m at 5.10 g/t
--------------- ------------- ----------------------
KRCD1878 32 34 2m at 6.16 g/t
--------------- ------------- ----------------------
KRCD1878 113 117 4m at 2.23 g/t
--------------- ------------- ----------------------
KRCD1878 141 143 1.85m at 6.04 g/t
--------------- ------------- ----------------------
KRCD1878 146 149 3.55m at 9.76 g/t
--------------- ------------- ----------------------
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).
**S**
Notes to Editors:
Hummingbird Resources (AIM: HUM) is a multi-asset,
multi-jurisdiction gold production, development and exploration
Company, a member of the World Gold Council and a founding member
of Single Mine Origin ( 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 hummingbirdresources.co.uk
or subscribe to our investor releases via investor email alerts
Daniel Betts, CEO Hummingbird Resources plc Tel: +44 (0) 20 7409 6660
Thomas Hill, FD
Anthony Köcken , COO
Edward Montgomery, CSO & ESG
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409 3494
Ritchie Balmer Nominated Adviser
-------------------------- ----------------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523 8000
Thomas Diehl Broker
-------------------------- ----------------------------
Bobby Morse Buchanan Tel: +44 (0) 20 7466 5000
Ariadna Peretz Financial PR/IR Email: HUM@buchanan.uk.com
James Husband
-------------------------- ----------------------------
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.
END
DRLSFFSWSEESEDF
(END) Dow Jones Newswires
January 10, 2022 02:34 ET (07:34 GMT)
Hummingbird Resources (LSE:HUM)
Historical Stock Chart
From Apr 2024 to May 2024
Hummingbird Resources (LSE:HUM)
Historical Stock Chart
From May 2023 to May 2024
