REG - Hummingbird Res. - Kouroussa Drilling Update

Hummingbird ResourcesAnnouncement

02/03/2022 07:00

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RNS Number : 2932D  Hummingbird Resources PLC  02 March 2022

 

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

02 March 2022

Hummingbird Resources plc

('Hummingbird' or the 'Company')

Kouroussa Drilling Update

Ongoing Significant High-Grade Assay Data Received

Hummingbird Resources plc (AIM: HUM) provides an update on the Company's
infill drilling programme at the Kouroussa Gold Mine ("Kouroussa" or "the
Project") in Guinea, including a notable hole of 9 metres ("m") at 36.35
grams per tonne ("g/t"), amongst other high grade intercepts.

For the full release, including drilling graphics, please follow the
link http://www.rns-pdf.londonstockexchange.com/rns/2932D_1-2022-3-1.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2932D_1-2022-3-1.pdf)

Kouroussa Drilling Highlights:

Hummingbird has received further assay results on 61 Reverse Circulation
("RC") and three diamond holes on the high-grade Koekoe ("KK") deposit,
delivering approximately 5,567 meters out of the Company's c.24,000m infill
drilling programme for 2021. To date, and including today's results, the
Company has received c.15,000m of assays from the 2021 programme, with the
last assays expected this month, which will be released once received and
analysed.

·      Notable drill results from the KK deposit include:

o  9m at 36.35 g/t from 90m (KRC1856)

o  14m at 21.85 g/t from 55m (KRC1849)

o  9m at 30.58 g/t from 96m (KRC1903)

o  4m at 53.84 g/t from 65m (KRC1844)

o  18m at 7.37 g/t from 74m (KRC1839)

o  6m at 18.80 g/t from 57m (KRC1831)

o  10m at 10.26 g/t from 53m (KRC1924)

o  5m at 19.02 g/t from 96m (KRC1778)

o  8m at 9.35 g/t from 49m (KRC1857)

o  18m at 4.12 g/t from 46m (KRC1840)

o  10m at 7.34 g/t from 89m (KRC1921)

o  7m at 10.14 g/t from 92m (KRC1917)

o  7m at 9.78 g/t from 133m (KRC1844)

o  1m at 66.05 g/t from 93m (KRC1844)

·      These results and the c.68,000m drilling from the 2021 campaigns
for both Kouroussa and Yanfolila will feed into our updated Company 2022
Resources and Reserves statement that remains on target to be released in Q2
2022

·      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.24,000m infill
drilling data are received, analysed and included in the aforementioned
updated Company Resources and Reserves statement

·      Drill assay results continue to support the current
interpretation as well as highlighting additional mineralisation zones. The
deposit remains open along strike and down plunge

·      The extent of the KK deposit's potential is highlighted in the
graphics below showing the long section view of the deposit and a notable
drill cross section

Dan Betts, CEO of Hummingbird Resources, commented:

"We continue to receive very high-grade drilling data from Kouroussa, which
continues to strengthen our overall knowledge base and confidence of the
asset's geology.  These ongoing double-digit grade drilling results show we
have an asset of significant gold endowment situated in the prolific Siguiri
gold region.

We are receiving the final results for the Kouroussa's 2021 drilling campaign,
with our geology and technical teams busy analysing the data to feed into our
upcoming updated 2022 Company Resources and Reserves statement, with the
overarching strategy of extending the life of the Kouroussa mine to well over
ten years."

Koekoe selected drill results

 Hole ID   Depth From (m)  Depth To (m)  Intercept Description

 KRC1856   90              99            9m @ 36.35 g/t
 KRC1849   55              69            14m @ 21.85 g/t
 KRC1903   96              105           9m @ 30.58 g/t
 KRC1844   65              69            4m @ 53.84 g/t
 KRC1839   74              92            18m @ 7.37 g/t
 KRC1831   57              63            6m @ 18.80 g/t
 KRC1924   53              63            10m @ 10.26 g/t
 KRC1778   96              101           5m @ 19.02 g/t
 KRC1857   49              57            8m @ 9.35 g/t
 KRC1840   46              64            18m @ 4.12 g/t
 KRC1921   89              99            10m @ 7.34 g/t
 KRC1917   92              99            7m @ 10.14 g/t
 KRC1844   133             140           7m @ 9.78 g/t
 KRC1844   93              94            1m @ 66.05 g/t
 KRC1853   52              61            9m @ 6.74 g/t
 KRC1941   11              19            8m @ 7.50 g/t
 KRC1853   93              104           11m @ 5.25 g/t
 KRCD1869  124             126           2m @ 22.58 g/t
 KRC1830   34              40            6m @ 6.06 g/t
 KRC1944   31              33            2m @ 15.41 g/t
 KRC1926   11              15            4m @ 7.22 g/t
 KRC1907   39              47            8m @ 2.93 g/t
 KRC1847   72              77            5m @ 4.38 g/t
 KRC1924   82              91            9m @ 2.36 g/t
 KRC1921   103             105           2m @ 10.57 g/t
 KRC1831   24              37            13m @ 1.56 g/t
 KRC1832   93              97            4m @ 4.62 g/t
 KRC1945   32              33            1m @ 16.84 g/t
 KRC1939   97              99            2m @ 8.09 g/t
 KRCD1893  157             161           4m @ 3.66 g/t
 KRC1929   47              48            1m @ 14.63 g/t
 KRC1944   25              27            2m @ 7.27 g/t
 KRC1943   17              22            5m @ 2.79 g/t
 KRC1836   3               4             1m @ 13.10 g/t
 KRC1857   40              45            5m @ 2.56 g/t
 KRC1936   16              21            5m @ 2.53 g/t
 KRC1844   53              54            1m @ 11.72 g/t
 KRC1916   32              34            2m @ 5.25 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).

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (withdrawal). Upon the publication of this
announcement, this inside information is now considered to be in the public
domain.

**ENDS**

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
(http://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 hummingbirdresources.co.uk
(https://www.hummingbirdresources.co.uk/)  or subscribe to our investor
releases via investor email alerts
(https://www.hummingbirdresources.co.uk/investors/regulatory-news-alerts/#subscribe)
 

 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 (mailto:HUM@buchanan.uk.com)

 James Husband

 

 

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