REG - Hummingbird Res. - Yanfolila Drilling Update

Hummingbird ResourcesAnnouncement

20/12/2021 07:00

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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
(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

 Hole ID    Depth from (m)  Depth to (m)  Intercept description
 SNWRC0482  10              12            2m @ 4.30 g/t
 SNWRC0482  40              45            5m @ 3.72 g/t
 SNWRC0482  61              69            8m @ 20.28 g/t
 SNWRC0483  13              18            5m @ 2.02 g/t
 SNWRC0484  51              60            9m @ 1.77 g/t
 SNWRC0485  41              61            20m @ 1.76 g/t
 SNWRC0485  77              85            8m @ 2.37 g/t
 SNWRC0486  176             177           1m @ 9.04 g/t
 SNWRC0489  30              50            20m @ 0.89 g/t
 SNWRC0490  72              78            6m @ 3.67 g/t
 SNWRC0491  39              53            14m @ 0.76 g/t
 SNWRC0491  78              83            5m @ 2.57 g/t
 SNWRC0491  93              97            4m @ 2.22 g/t
 SNWRC0493  95              116           21m @ 0.78 g/t
 SNWRC0494  54              79            25m @ 1.08 g/t
 SNWRC0494  165             172           7m @ 2.91 g/t
 SNWRC0495  94              108           14m @ 0.68 g/t
 SNWRC0495  132             150           18m @ 1.97 g/t
 SNWRC0499  12              19            7m @ 1.59 g/t
 SNWRC0500  55              86            31m @ 3.32 g/t
 SNWRC0501  23              43            20m @ 2.96 g/t
 SNWRC0502  72              83            11m @ 1.57 g/t
 SNWRC0506  14              21            7m @ 12.18 g/t
 SNWRC0506  97              112           15m @ 2.59 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
 SNWRC0512  16              29            13m @ 0.76 g/t
 SNWRC0514  76              82            6m @ 5.53 g/t
 SNWRC0515  26              36            10m @ 2.20 g/t

Minimum Interval 1 m Trigger 0.5 g/t (Max 5 m Int Waste)

 

Greenfield selected drill results

Kama

 Hole Number  Depth from (m)  Depth to (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

 Hole Number  Depth from (m)  Depth to (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
(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 https://www.hummingbirdresources.co.uk/
(https://www.hummingbirdresources.co.uk/)  or contact:

 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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