REG - Hummingbird Res. - Update on Exploration Results

Hummingbird ResourcesAnnouncement

04/03/2019 07:05

RNS Number : 6754R
Hummingbird Resources PLC
04 March 2019
 


Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector: Mining
 
Hummingbird Resources plc
("Hummingbird" or the "Company")
 
Update on Exploration Results
 
Hummingbird Resources (AIM:HUM) is pleased to announce its third set of drilling results from the recently completed exploration campaign at the Yanfolila Gold Mine in Mali, the main focus of which was to convert resources to reserves and, in time, extend the mine life.
 
The completed drilling programme largely focused around the resource definition at Gonka, with some further follow up drilling at Komana West.  Hummingbird is pleased to report that the latest results demonstrate more high-grade potential and continued exploration potential at depth.  Additionally, in December 2018, the Group announced a set of high-grade results, of which the stand-out intercept was 15 m @ 16.03 g/t.
 
Hummingbird is now focussed on integrating the positive results seen in its exploration programme into its mine plan. The Gonka deposit is situated just 5 km 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.
 
Drilling Highlights:
 
Gonka ('GK') Deposit
·    18 m @ 9.39 g/t from 156 m depth (GKRCD0023B)
·    4.3 m @ 29.74 g/t from 250 m depth (GKRCD0050)
·    6.5 m @ 6.55 g/t from 37.8 m depth (GKDD0031)
·    3 m @ 12.89 g/t from 137 m depth (GKRCD0041B)
·    10 m @ 3.13 g/t from 58 m depth (GKRCD0045)
·    13.6 m @ 2.56 g/t from 34 m depth (GKDD00011)
 
Murray Paterson, Chief Geologist for Hummingbird, commented: 
"Following the conclusion of the drilling programme at Gonka, we have moved to the resource modelling phase as we look to publish a new and updated mineral resource for Gonka and the open pitable reserves.  After this is completed the Company plans to release a new life of mine plan at Yanfolila.
 
"Our exploration team is reviewing the Gonka drilling data and is planning ahead for the coming 2019 drilling programme, which will target the down dip extensions to Gonka to expand the resource and reserves.  A thorough review of the database to identify new greenfield targets is also underway and this is expected to yield high priority targets to drill test outside the current seven deposits that have resources associated with them."
 
Further information:
 
2018 Exploration Results
 
On the completion of the 2018 drilling programme the total metres drilled was 28,349 m.
A breakdown of the numbers is as follows;
 



Deposit


Drilling


Metres




Gonka


Reverse Circulation


6,836








Diamond Drill Hole


13,930




Komana West


Reverse Circulation


3,091








Diamond Drill Hole


2,536




Guirin West


Reverse Circulation


1,956




Total:






28,349



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



Hole_ID


Depth From (m)


Depth To (m)


Element


Interval Width (m)


Grade (g/t)




GKDD0008


155


156


Au_ppm


1


2.05




GKDD0008


177


179


Au_ppm


2


1.74




GKDD0009


109


110


Au_ppm


1


2.97




GKDD0009


116


120


Au_ppm


4


1.49




GKDD0010


82


89


Au_ppm


7


1.81




GKDD0011


34


47.6


Au_ppm


13.6


2.56




GKDD0011


59.4


61


Au_ppm


1.6


1.17




GKDD0013


72


73


Au_ppm


1


1.47




GKDD0014


35


36


Au_ppm


1


0.77




GKDD0016


48.5


51.32


Au_ppm


2.82


0.49




GKDD0016


81


82.1


Au_ppm


1.1


1.21




GKDD0016


118


118.54


Au_ppm


0.54


50.1




GKDD0016


128


129


Au_ppm


1


0.5




GKDD0017


103


104


Au_ppm


1


0.52




GKDD0017


116.2


117.4


Au_ppm


1.2


0.87




GKDD0028


69.3


77.85


Au_ppm


8.55


7.06




GKDD0028


84.45


86


Au_ppm


1.55


1.47




GKDD0028


134


135


Au_ppm


1


3.79




GKDD0029


93


94


Au_ppm


1.82


1




GKDD0029


120


122


Au_ppm


3.07


2




GKDD0030


227.7


231


Au_ppm


3.3


0.64




GKDD0031


9


10


Au_ppm


1


0.62




GKDD0031


22


23


Au_ppm


1


0.66




GKDD0031


37.8


44.3


Au_ppm


6.5


6.55




GKDD0031


97.6


99.4


Au_ppm


1.8


1.5




GKRCD0001


167


168


Au_ppm


1


0.61




GKRCD0001B


131


132


Au_ppm


1


1.35




GKRCD0002


169


171


Au_ppm


2


1.61




GKRCD0002B


209


210


Au_ppm


1


9.21




GKRCD0002B


335


338


Au_ppm


3


1.23




GKRCD0002B


348


350


Au_ppm


2


0.96




GKRCD0003B


162


163


Au_ppm


1


6.26




GKRCD0003B


182


183


Au_ppm


1


0.64




GKRCD0006


159


160


Au_ppm


1


0.76




GKRCD0007


109


110


Au_ppm


1


1.06




GKRCD0007


123


132


Au_ppm


9


1.52




GKRCD0008


76


77


Au_ppm


1


5.56




GKRCD0012


57


58


Au_ppm


1


0.59




GKRCD0012


70


72


Au_ppm


2


1.54




GKRCD0012


135


136


Au_ppm


1


0.78




GKRCD0012


152


153


Au_ppm


1


0.82




GKRCD0013


25


26


Au_ppm


1


0.68




GKRCD0014


319


324


Au_ppm


5


0.7




GKRCD0015


122.3


123.63


Au_ppm


1.33


3.52




GKRCD0015


184


187.15


Au_ppm


3.15


1.13




GKRCD0015


197.55


199


Au_ppm


1.45


0.91




GKRCD0016


38


49


Au_ppm


11


1.78




GKRCD0016


125


126.5


Au_ppm


0.86


1.5




GKRCD0016


157


158.7


Au_ppm


1


1.7




GKRCD0017


98


99


Au_ppm


3.96


1




GKRCD0017


114


115


Au_ppm


0.59


1




GKRCD0017


119


121


Au_ppm


2.14


2




GKRCD0018


75


76


Au_ppm


1


0.5




GKRCD0018


81


82


Au_ppm


1


1.14




GKRCD0019


120


121


Au_ppm


1


7.75




GKRCD0019


124


125.2


Au_ppm


1.2


1.05




GKRCD0019


129


130


Au_ppm


1


0.56




GKRCD0019


133.1


137


Au_ppm


3.9


1.82




GKRCD0020


4


8


Au_ppm


4


0.59




GKRCD0020


14


16


Au_ppm


2


6.35




GKRCD0020


39


40


Au_ppm


1


0.59




GKRCD0020


51


52


Au_ppm


1


0.67




GKRCD0020


62


65


Au_ppm


3


1.51




GKRCD0020


123


124


Au_ppm


1


0.67




GKRCD0020


140


142


Au_ppm


2


3.37




GKRCD0021


41


42


Au_ppm


1


3.6




GKRCD0021


168


170


Au_ppm


2


6.76




GKRCD0021


180


181


Au_ppm


1


1.36




GKRCD0021


186


187.4


Au_ppm


1.4


1.5




GKRCD0023B


156


174


Au_ppm


18


9.39




GKRCD0023B


178


179


Au_ppm


1


0.91




GKRCD0023B


187


189


Au_ppm


2


0.65




GKRCD0023B


216


221


Au_ppm


5


3.61




GKRCD0023B


226.5


228


Au_ppm


1.5


1.42




GKRCD0024


168


170.3


Au_ppm


1.69


2.3




GKRCD0024


192


194.2


Au_ppm


8.91


2.2




GKRCD0024


199


200


Au_ppm


5.9


1




GKRCD0024


230


231


Au_ppm


0.97


1




GKRCD0024B


171


172.7


Au_ppm


1.7


1.48




GKRCD0024B


189


191.3


Au_ppm


2.3


0.63




GKRCD0024B


194


198


Au_ppm


4


2.07




GKRCD0025


33


34


Au_ppm


1


2.04




GKRCD0026


129


130


Au_ppm


1


1.03




GKRCD0033


93


94


Au_ppm


4.5


1




GKRCD0033


109


110


Au_ppm


0.6


1




GKRCD0033


148.55


150.56


Au_ppm


1.94


2.01




GKRCD0034


137


143


Au_ppm


6


2.07




GKRCD0034


158


168


Au_ppm


10


2.79




GKRCD0035


180


181.2


Au_ppm


1.2


1.49




GKRCD0037


77


78


Au_ppm


1


0.52




GKRCD0037


85


86


Au_ppm


1


5.25




GKRCD0037


143


144


Au_ppm


1


1.98




GKRCD0038


183


186.1


Au_ppm


3.1


1.75




GKRCD0039


27


29


Au_ppm


2


0.99




GKRCD0039


33


35


Au_ppm


2


1.55




GKRCD0039


47


48


Au_ppm


1


4.7




GKRCD0039


196


198


Au_ppm


2.03


2




GKRCD0039


206


207


Au_ppm


0.57


1




GKRCD0040


5


7


Au_ppm


2


3.36




GKRCD0040


16


17


Au_ppm


1


2.98




GKRCD0040


77


80


Au_ppm


3


2.88




GKRCD0040


175


177


Au_ppm


2


6.11




GKRCD0040


191


192


Au_ppm


1


1.63




GKRCD0040


198


201


Au_ppm


3


0.73




GKRCD0040


234


235


Au_ppm


1


1.18




GKRCD0040


243


244


Au_ppm


1


0.5




GKRCD0041B


97


98


Au_ppm


1


11




GKRCD0041B


105


106


Au_ppm


1


3.45




GKRCD0041B


137


140


Au_ppm


3


12.89




GKRCD0041B


153


157


Au_ppm


4


1.51




GKRCD0041B


175


176


Au_ppm


1


1.45




GKRCD0041B


185


186


Au_ppm


1


0.59




GKRCD0043


116.5


119


Au_ppm


2.5


0.89




GKRCD0045


58


68


Au_ppm


10


3.13




GKRCD0045


180


182


Au_ppm


2


2.18




GKRCD0045


225.04


227


Au_ppm


1.96


0.62




GKRCD0046


49


50


Au_ppm


1


41.2




GKRCD0046


223


225


Au_ppm


2


13.71




GKRCD0046


231


233


Au_ppm


2


1.18




GKRCD0047


47


48


Au_ppm


1


0.62




GKRCD0047


53


54


Au_ppm


1


0.84




GKRCD0047


73


74


Au_ppm


1


0.5




GKRCD0048


29


31


Au_ppm


2


0.96




GKRCD0049


283


284.25


Au_ppm


1.25


6.78




GKRCD0050


244


248


Au_ppm


4


0.52




GKRCD0050


250


254.3


Au_ppm


4.3


29.74




GKRCD0051


117


118


Au_ppm


1


1.37




GKRCD0051


127


128


Au_ppm


1


0.8




GKRCD0051


199


201.1


Au_ppm


2.1


1.21




GKRCD0055


81


82


Au_ppm


1


1.29




GKRCD0055


113.4


115.6


Au_ppm


2.2


0.39




GKRCD0056


65.3


84


Au_ppm


18.7


7.29




GKRCD0056


99


100


Au_ppm


1


1.47




GKRCD0056


123


124


Au_ppm


1


0.92




GKRCD0058


264.5


265.85


Au_ppm


1.35


0.86




GKRCD0059


188


189.4


Au_ppm


1.4


1.22




GKRCD0059


243


245


Au_ppm


2


1.06




GKRCD0061


188


189.55


Au_ppm


1.55


2.25



 
Komana West



Hole_ID






Depth From (m)


Depth To (m)


Element


Interval Width (m)


Grade (g/t)




KWDD0615






56


57


Au_ppm


1


1.34




KWDD0615






65


69


Au_ppm


4


1.42




KWDD0615






78


79


Au_ppm


1


0.65




KWDD0615






140.4


142


Au_ppm


1.6


0.76



 
 
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
Ollie Head


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.  Yanfolila held pre-production Probable Reserves of 709,800oz @ 3.14g/t, 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 28% 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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