REG - Hummingbird Res. - Exploration Results Update

Hummingbird ResourcesAnnouncement

13/12/2018 07:05

RNS Number : 3186K
Hummingbird Resources PLC
13 December 2018
 


Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
 
Hummingbird Resources plc
("Hummingbird" or the "Company")
 
Exploration Results Update
 
Hummingbird Resources (AIM:HUM), the African gold producer, is pleased to announce its second set of drill results from the 2018 exploration campaign in Mali, the focus of which is to convert Resources to Reserves and, in time, to extend the life of mine from the Company's Yanfolila Gold Mine.
 
Drilling has been ongoing since it began in July and has now focused on the Resource definition at Gonka, with some further follow up drilling at Komana West.  This second batch of results delivers further positive results from those announced in September and shows the high-grade potential at Gonka owing to the significant numbers of wide and high-grade drill intercepts encountered to date.   The additional drilling at Komana West has been useful to the mining operations, since the newly drilled zones have been found outside the Resource model and positive results have been found inside the current pit shell, increasing the amount of mineable ore available.    
 
Drilling Highlights:
 
Best Intersections
 
Gonka ('GK') Deposit
·    15m @ 16.03g/t from 207m depth (GKRCD0013)
·    20.05m @ 4.63g/t from 118m depth (GKDD0020)
·    11m @ 4.11g/t from 79m depth (GKRCD0044)
·    14m @ 3.88g/t from 178m depth (GKRCD0002)
·    13.6m @ 2.56g/t from 34m depth (GKDD0011)
 
Komana West ('KW') Deposit
·    15m @ 4.25 g/t from 8m depth (KWDD0609)
 
Komana West South Extension
·    12m @ 1.90 g/t from 90m depth (KWRC0419)
 
 
Murray Paterson, Chief Geologist for Hummingbird, commented: 
"Following analysis of recent exploration results, Hummingbird is confident that it is now on target to achieve our operational objective, which is to increase the mine life at Yanfolila. In light of these results, the exploration team on site is now working diligently to build a mineable Resource that will aim to add more open pit and underground ore extending the current mine life.
 
So far, drilling has remained quite shallow, focussing on infilling the open pit Resources.  Our attentions now switch to drilling out the underground Resources at Gonka, which is very exciting since this is where the highest grades and wider intervals have been drilled by Gold Fields Ltd."
 
Please click on the following link to see a long section of the Gonka deposit and a map of the deposit locations within the mining permit.
 
http://www.rns-pdf.londonstockexchange.com/rns/3186K_1-2018-12-12.pdf
 
Further information:
 
2018 Exploration Results
 
As at the end of November the total metres drilled to date is 23,697m. A breakdown of the numbers is as follows;
 
Gonka (metres)
·    Reverse Circulation ('RC'): 6,206
·    Diamond Drill Hole ('DDH'): 9,908
·    Total : 16,114
 
Komana West (metres)
·    RC: 3,091
·    DDH: 2,536
·    Total : 5,627
 
Guirin West (metres)
·    RC: 1,956
 
Initially, around 50,000m of drilling was planned this year.  Through the year the drilling schedule has become more targeted and has been adapted to fit with the updated LoM plan. 
 
All currently planned exploration drilling is expected to be completed by year end 2018 allowing the mineral resource model and mine planning to commence.  It is expected that by the end of the first quarter 2019 a new mineral Resource and Reserve update will be released by the company. 
 
Komana West ('KW') Pit
The 2018 drilling programme at KW has been completed.  Following the first round of results, another near-surface mineralised zone has been identified immediately west of the main North-South grade domain within the current pit.  This new in-pit zone is in addition to the high-grade zones reported previously.  These zones will add immediately to the mineable oxide ounces in the Reserve as they will be grade controlled drilled once mining reaches the relevant pit floor elevations over the next 6 months.  The targeted diamond drilling that has been carried out has also allowed the structural model for the deposit to be refined, which has been a benefit to further exploration but also the grade control and Resource modelling.
 
Komana West - Southern Extension
RC drilling to test for the southern extension of mineralisation identified a broad zone of 12m @ 1.9g/t (open at depth below) in hole KWRC0419.  The intersection is located 650m south of the boundary of the planned pit. Further follow up drilling will be planned next year to test for mineralised extensions along strike and down dip.
 
A total of 2,536m of Diamond Drilling and 3,091 metres of RC has been drilled at Komana West and its northern and southern extensions.  There remain a few RC assays still outstanding.  See table below for a complete set of results.
 
Gonka
Drilling at Gonka has identified a series of broad mineralised zones with intermittent, narrow high-grade zones, with both related to north plunging, open fold hinge zones proximal to a basalt-metasediment contact.  These zones form a series of well-defined linear ore shoots which are proving to be predictable in nature. The predictability of the ore shoots is allowing for drilling to continue to define extensions to the shoots outside of the $1,100/oz pit shell used in the DRA's 2016 open pit and underground scoping study. 
 
Mineralisation is typically defined by a fine, dark alteration of the basalt, with fine pyrite or narrow zones of coarse cubic pyrite +/- quartz veins and/or brecciated quartz-carbonate +/- tourmaline vein zones of various widths.  Photos of these high-grade zones will be uploaded and sent out on Twitter shortly after the release of this announcement.  The mineralised intersections have been identified at depths as shallow as 34m.  However, very little surface expression of the ore body exists, which has limited the number of orpailleurs (artisanal miners) active at Gonka.
 
The geological and structural model has been under constant revision and has been used to assist with planning and following down plunge extensions to the main high-grade zones.  The exploration team's primary drilling focus for this year has been to convert the previously defined Inferred Resources to Indicated.  Once this is complete, the team's attention can move to the numerous other significant intercepts that have the potential to define new zones in the Gonka mineral resource model.
 
Gold Fields Ltd ("Gold Fields") had previously drilled +47,000m of drilling at Gonka defining over +300kozs in Inferred resources (DRA 2016 study indicated that there was some 92kozs @ 2.33g/t within the open pit and 77kozs @ 4.47g/t underground at $1,100/oz gold price). Drilling by Gold Fields identified mineralisation and resources along a >2km zone, making up the Gonka trend.  The current drilling program has focused on an 800m long portion at the northern end of the Gonka trend.  Some of Gold Fields' notable drill intersections were;
 
7m @ 7.65 g/t from 92m depth (KRC0578)
6m @ 9.18 g/t from 102m depth (KRC0578)
15m @ 7.51 g/t from 59m depth (KRC0806)
20m @ 4.19 g/t from 56m depth (KRCD0058)
7.2m @ 7.05 g/t from 139m depth (KRCD0233)
5.2m @ 9.42 g/t from 174.4m depth (KRCD0575)
4.85m @ 11.46 g/t from 109.55m (KRCD0587)
5.3m @ 18.80 g/t from 249m (KRCD0730)
3.5m @ 23.13 g/t from 162.6m (KRCD0756)
1.3m @ 39.71 g/t from 220.4m (KRCD0808)
 
To date a total of 9,908m (budget of 12,000m) of DD and 6,206 metres (budget of 10,000m) of RC pre-collars have been completed at Gonka.  The current exploration drill programme will be finished by year end, and work has already begun to ensure the updated Resource and Reserve models are finalised by Q1 2019.
 
The Gonka deposit is situated just 5km from the process plant, making it suitable to be included in the current mine plan.  The deposit is fully permitted and within the mining license, which will allow mining to start immediately, once the Resource modelling and mine planning is completed, expected by the end of first quarter 2019.
 
Guirin West
Mineral Resource modelling of the Guirin West infill RC drilling (1,956m) was completed by CSA Global - UK.  The total mineral resource defined from this drilling was 64kt @ 2.26g/t for 4.6kozs (at a cut-off of 0.8g/t). All the material is oxide and is contained with a single grade domain.  Only the southern-most zone within the 6 mineralised zones that make up Guirin West was able to be drilled at the time due to the extreme wet season.  The remaining zones are being planned to be drilled in 2019.
 
Komana East Underground
No further drilling is being planned for 2018 at Komana East underground.  Mining planning work is being scheduled to commence by CSA Global - Perth in February 2019 to prepare an underground mine design and schedule on the existing Indicated resources beneath the pit.  This work is scheduled for completion by the end of quarter one 2019.
 
Sanioumale East and West "SE & SW"
The planned 2018 resource infill and fresh rock extensional drilling at Sanioumale East and West have been postponed until 2019.  Mine planning work by CSA Global are running mine planning scenarios on the existing Indicated resources (oxide and transitional only) at SE & SW.  With the planned second ball mill expansion ready by Q3 2019, the oxide / transitional resources of 200kozs at SE & SW will be blended with the hard rock resources from Gonka.
 
Komana West
Full drill results - 1m cut-off grade 0.5g/t
 




Hole_ID


Depth From (m)


Depth To (m)


Interval (m)


Grade (g/t)


Intercept Description




KWDD0600


139


146


7


1.88


7m @ 1.88 g/t




KWDD0601


109


110.2


1.2


0.8


1.2m @ 0.80 g/t




KWDD0601


118


119


1


3.23


1m @ 3.23 g/t




KWDD0601


133


134


1


0.8


1m @ 0.80 g/t




KWDD0601


143


144


1


2.25


1m @ 2.25 g/t




KWDD0601


159


160


1


0.58


1m @ 0.58 g/t




KWDD0601


164


165


1


3.04


1m @ 3.04 g/t




KWDD0602


119


120


1


22.9


1m @ 22.90 g/t




KWDD0603


72.4


80.45


8.05


4.98


8.05m @ 4.98 g/t




KWDD0603


84.9


92


7.1


6.25


7.1m @ 6.25 g/t




KWDD0603


96.1


98


1.9


24.87


1.9m @ 24.87 g/t




KWDD0603


105.55


107


1.45


0.57


1.45m @ 0.57 g/t




KWDD0603


118


142.75


24.75


3.06


24.75m @ 3.06 g/t




KWDD0603


173


174


1


3.83


1m @ 3.83 g/t




KWDD0604


64


66


2


0.58


2m @ 0.58 g/t




KWDD0604


69


82.5


13.5


5.33


13.5m @ 5.33 g/t




KWDD0604A


62.5


65


2.5


3.47


2.5m @ 3.47 g/t




KWDD0604A


69.7


79.7


10


9.9


10m @ 9.90 g/t




KWDD0605


102


103


1


0.73


1m @ 0.73 g/t




KWDD0605


134


136


2


5.12


2m @ 5.12 g/t




KWDD0605


139


145


6


2.17


6m @ 2.17 g/t




KWDD0605


154


157


3


0.96


3m @ 0.96 g/t




KWDD0606


115


116


1


0.63


1m @ 0.63 g/t




KWDD0607


121


123


2


2.71


2m @ 2.71 g/t




KWDD0607


127


128


1


0.81


1m @ 0.81 g/t




KWDD0608


43


54.8


11.8


1.12


11.8m @ 1.12 g/t




KWDD0608


61


62


1


10


1m @ 10.00 g/t




KWDD0608


80


81


1


0.53


1m @ 0.53 g/t




KWDD0608


86.3


88


1.7


0.92


1.7m @ 0.92 g/t




KWDD0608


93


94.7


1.7


1.15


1.7m @ 1.15 g/t




KWDD0608


98


99


1


0.62


1m @ 0.62 g/t




KWDD0608


125


126.8


1.8


10.11


1.8m @ 10.11 g/t




KWDD0608


142


143


1


0.85


1m @ 0.85 g/t




KWDD0609


8


23


15


4.25


15m @ 4.25 g/t




KWDD0609


78


79


1


0.59


1m @ 0.59 g/t




KWDD0609


92.43


93.45


1.02


0.8


1.02m @ 0.80 g/t




KWDD0609


150


152


2


0.87


2m @ 0.87 g/t




KWDD0609


164


165


1


0.54


1m @ 0.54 g/t




KWDD0612


112


113


1


0.81


1m @ 0.81 g/t




KWDD0613


85.3


87


1.7


5.96


1.7m @ 5.96 g/t




KWDD0613


97


98


1


14.3


1m @ 14.30 g/t




KWDD0613


121.25


123


1.75


2.21


1.75m @ 2.21 g/t




KWDD0614


104


105


1


1.06


1m @ 1.06 g/t




KWDD0614


114.4


118


3.6


4.95


3.6m @ 4.95 g/t




KWDD0614


126


134


8


1.99


8m @ 1.99 g/t




KWDD0614


137.05


139.1


2.05


7.33


2.05m @ 7.33 g/t




KWRC0400


13


14


1


2.7


1m @ 2.70 g/t




KWRC0406


36


39


3


1.34


3m @ 1.34 g/t




KWRC0408


110


112


2


2.45


2m @ 2.45 g/t




KWRC0408


114


115


1


0.6


1m @ 0.60 g/t




KWRC0417


0


1


1


16.8


1m @ 16.80 g/t




KWRC0419


90


102


12


1.9


12m @ 1.90 g/t




KWRCD0003


11


12


1


0.54


1m @ 0.54 g/t




KWRCD0003


28


29


1


12.8


1m @ 12.80 g/t




KWRCD0003


48


49


1


8.4


1m @ 8.40 g/t




KWRCD0003


59


60


1


1.47


1m @ 1.47 g/t




KWRCD0003


71


72


1


1.1


1m @ 1.10 g/t




KWRCD0003


91.25


92.75


1.5


0.75


1.5m @ 0.75 g/t




KWRCD0003


195


196


1


0.83


1m @ 0.83 g/t




KWRCD0004


47


48


1


0.56


1m @ 0.56 g/t




KWRCD0004


77


80


3


3.26


3m @ 3.26 g/t




KWRCD0004


94.5


95.9


1.4


20.46


1.4m @ 20.46 g/t




KWRCD0004


104.4


105.4


1


2.4


1m @ 2.40 g/t




KWRCD0004


121


123


2


0.8


2m @ 0.80 g/t




KWRCD0004


133


134


1


29.7


1m @ 29.70 g/t




 
Gonka
Full drill results - 1m cut-off grade 0.5g/t
 




Hole_ID


Depth From (m)


Depth To (m)


Interval Width (m)


Grade (g/t)


Intercept Description




GKDD0001


132


134


2


2.12


2m @ 2.12 g/t




GKDD0001


153


155


2


3.72


2m @ 3.72 g/t




GKDD0001


167


168


1


1.77


1m @ 1.77 g/t




GKDD0002


80


82


2


4.34


2m @ 4.34 g/t




GKDD0002


88


89


1


2.54


1m @ 2.54 g/t




GKDD0002


108


111


3


5.5


3m @ 5.50 g/t




GKDD0002


157


158


1


0.5


1m @ 0.50 g/t




GKDD0003


78.4


80.45


2.05


1.11


2.05m @ 1.11 g/t




GKDD0004


39


41


2


1.77


2m @ 1.77 g/t




GKDD0004


60


61


1


0.9


1m @ 0.90 g/t




GKDD0006


90


91.25


1.25


0.6


1.25m @ 0.60 g/t




GKDD0007


134


136


2


8.18


2m @ 8.18 g/t




GKDD0007


158


161


3


1.84


3m @ 1.84 g/t




GKDD0007


187


193


6


4.41


6m @ 4.41 g/t




GKDD0007


199


200


1


0.5


1m @ 0.50 g/t




GKDD0008


206


207


1


1.7


1m @ 1.70 g/t




GKDD0009


109


110


1


2.97


1m @ 2.97 g/t




GKDD0009


116


118


2


1.69


2m @ 1.69 g/t




GKDD0009


177.2


179.15


1.95


2.37


1.95m @ 2.37 g/t




GKDD0010


85


89


4


2.78


4m @ 2.78 g/t




GKDD0010


112


117


5


2.97


5m @ 2.97 g/t




GKDD0010


120


121


1


0.66


1m @ 0.66 g/t




GKDD0010


132.15


133.8


1.65


0.67


1.65m @ 0.67 g/t




GKDD0011


34


47.6


13.6


2.56


13.6m @ 2.56 g/t




GKDD0012


156


157


1


0.61


1m @ 0.61 g/t




GKDD0012


160


164


4


0.98


4m @ 0.98 g/t




GKDD0012


185


186


1


2.13


1m @ 2.13 g/t




GKDD0012


198


200


2


0.54


2m @ 0.54 g/t




GKDD0015


144.5


150.8


6.3


2.88


6.3m @ 2.88 g/t




GKDD0015


186.25


187.25


1


0.52


1m @ 0.52 g/t




GKDD0017


116.2


117.4


1.2


0.87


1.2m @ 0.87 g/t




GKDD0017


141


144


3


1.19


3m @ 1.19 g/t




GKDD0018


91


92


1


0.74


1m @ 0.74 g/t




GKDD0018


170


171


1


0.68


1m @ 0.68 g/t




GKDD0019


146


154.5


8.5


1.36


8.5m @ 1.36 g/t




GKDD0019


184


185


1


0.52


1m @ 0.52 g/t




GKDD0020


90.6


97


6.4


2.9


6.4m @ 2.90 g/t




GKDD0020


111.2


114.8


3.6


0.85


3.6m @ 0.85 g/t




GKDD0020


118.35


126.1


7.75


2.95


7.75m @ 2.95 g/t




GKDD0020


128.9


132


3.1


20.39


3.1m @ 20.39 g/t




GKDD0021


177


179


2


0.98


2m @ 0.98 g/t




GKDD0022


45


46


1


1.16


1m @ 1.16 g/t




GKDD0022


56.05


57.05


1


1.5


1m @ 1.50 g/t




GKDD0024


136


137


1


5.06


1m @ 5.06 g/t




GKDD0024


146


147


1


30.8


1m @ 30.80 g/t




GKDD0024


167


169


2


1.57


2m @ 1.57 g/t




GKDD0025


147


148.56


1.56


0.59


1.56m @ 0.59 g/t




GKDD0027


68


70


2


1.24


2m @ 1.24 g/t




GKDD0027


86


89


3


1.19


3m @ 1.19 g/t




GKRCD0002


169


171


2


1.61


2m @ 1.61 g/t




GKRCD0002


178


192


14


3.88


14m @ 3.88 g/t




GKRCD0002


205


207


2


0.95


2m @ 0.95 g/t




GKRCD0004


281


282.2


1.2


1.29


1.2m @ 1.29 g/t




GKRCD0013


207


222


15


16.03


15m @ 16.03 g/t




GKRCD0013


228


230.5


2.5


0.87


2.5m @ 0.87 g/t




GKRCD0020


195


198


3


1.8


3m @ 1.80 g/t




GKRCD0020


202


203.1


1.1


0.63


1.1m @ 0.63 g/t




GKRCD0020


206.3


216


9.7


2.15


9.7m @ 2.15 g/t




GKRCD0020


219


220


1


1.97


1m @ 1.97 g/t




GKRCD0022


219


220


1


0.86


1m @ 0.86 g/t




GKRCD0023


158


159


1


5.5


1m @ 5.50 g/t




GKRCD0023


162.7


165


2.3


6.55


2.3m @ 6.55 g/t




GKRCD0023


187


191


4


0.51


4m @ 0.51 g/t




GKRCD0023


199


203


4


0.58


4m @ 0.58 g/t




GKRCD0023


210


212


2


1.56


2m @ 1.56 g/t




GKRCD0023


229


230.8


1.8


1.06


1.8m @ 1.06 g/t




GKRCD0033


49


55


6


2.29


6m @ 2.29 g/t




GKRCD0033


60


61


1


0.58


1m @ 0.58 g/t




GKRCD0033


70


71


1


1.19


1m @ 1.19 g/t




GKRCD0033


78


79


1


1.84


1m @ 1.84 g/t




GKRCD0035


74


75


1


0.99


1m @ 0.99 g/t




GKRCD0035


79


80


1


0.8


1m @ 0.80 g/t




GKRCD0035


87


88


1


0.55


1m @ 0.55 g/t




GKRCD0035


92


93


1


0.79


1m @ 0.79 g/t




GKRCD0035


100


119.55


19.55


1.8


19.55m @ 1.80 g/t




GKRCD0035


123


126


3


1.13


3m @ 1.13 g/t




GKRCD0036


87.7


90


2.3


0.73


2.3m @ 0.73 g/t




GKRCD0036


118


119


1


1.85


1m @ 1.85 g/t




GKRCD0036


158.74


167


8.26


1.73


8.26m @ 1.73 g/t




GKRCD0042B


121


122


1


2.13


1m @ 2.13 g/t




GKRCD0042B


125


126.08


1.08


1.16


1.08m @ 1.16 g/t




GKRCD0042B


160


161


1


0.6


1m @ 0.60 g/t




GKRCD0044


8


9


1


0.5


1m @ 0.50 g/t




GKRCD0044


34


38


4


3.2


4m @ 3.20 g/t




GKRCD0044


44


46


2


1.93


2m @ 1.93 g/t




GKRCD0044


62


65


3


2.35


3m @ 2.35 g/t




GKRCD0044


79


90


11


4.11


11m @ 4.11 g/t




GKRCD0056


48


55


7


1.29


7m @ 1.29 g/t




GKRCD0056


59


60


1


0.65


1m @ 0.65 g/t




GKRCD0057


11


14


3


0.86


3m @ 0.86 g/t




GKRCD0057


53


56


3


0.66


3m @ 0.66 g/t




GKRCD0057


60


72


12


1.04


12m @ 1.04 g/t




 
 
 
Qualified Person Review
Murray Paterson has reviewed the technical information contained within this announcement in his capacity as a Qualified Person, as required under the AIM Rules for Companies.  Murray Paterson is the Chief Geologist for the Company and is a member of good standing with the Australasian Institute of Mining and Metallurgy (MAusIMM).
 
 
**ENDS**
 
For further information, please visit www.hummingbirdresources.co.uk or contact: 




Daniel Betts, CEO
Thomas Hill, FD
Robert Monro, IR


Hummingbird Resources plc


Tel: +44 (0) 20 7409 6660




 


 


 




James Spinney
Ritchie Balmer
James Bellman


Strand Hanson Limited
 
Nominated Adviser


Tel: +44 (0) 20 7409 3494




 


 


 




Martin Davison
James Asensio


Canaccord Genuity Limited
Broker


Tel: +44 (0) 20 7523 8000




 


 


 




Gordon Poole
Owen Roberts
James Crothers


Camarco
 
Financial PR/IR


Tel: +44 (0) 20 3 757 4980




 
 
 
About Hummingbird Resources Plc
 
Notes to Editors
Hummingbird Resources (AIM: HUM) is a leading gold production, development and exploration company.  The Company has two core gold projects, the Yanfolila Gold Mine in Mali and the Dugbe Gold Project in Liberia. 
 
Yanfolila produced its first gold pour on time and budget in December 2017 and is expected to produce approximately 107,000oz gold/year on average over the Life of Mine.  Yanfolila holds pre-production Probable Reserves 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 Dugbe Gold Project has Resources currently totalling 4.2Moz of gold and a completed NI 43-101 compliant PEA on the project showing a 29% IRR and US$186m NPV at a US$1,300 gold price. 
 
In addition to Hummingbird's production and development assets, the Company also has an exploration footprint of ~4,000km2 and a 34% interest in AIM listed Cora Gold, which is advancing a portfolio of prospects in Mali and Senegal.
 
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.
 




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