REG - Hummingbird Res. - Yanfolila Drilling Update

Hummingbird ResourcesAnnouncement

09/02/2022 07:00

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RNS Number : 0858B  Hummingbird Resources PLC  09 February 2022

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

9 February 2022

Hummingbird Resources plc

('Hummingbird' or the 'Company')

Yanfolila Drilling Update

Yanfolila drilling results, including 4 meters at 64.68 g/t, highlight life of
mine upside potential

Hummingbird Resources plc (AIM: HUM) provides an update on its extensive and
completed 2021 exploration drilling programme at the Yanfolila gold mine
("Yanfolila") in Mali from the Sanioumale East ("SE") and greenfield
deposit, BBC. For the full release, including graphics, please follow the
link here

http://www.rns-pdf.londonstockexchange.com/rns/0858B_1-2022-2-8.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0858B_1-2022-2-8.pdf)

The Company notes that these assays are the final to be received from the
Yanfolila 2021 drilling programme, which totalled c.48,000 meters ("m"). The
results from the programme are now being analysed and will be included in our
updated 2022 Company Resources and Reserves statement, scheduled to be
released in Q2 2022.

Drilling Highlights:

§ The Company has received and analysed a further c.12,000 m of assays from
the SE deposit and c.3,179 m of assays from the initial drilling done at
greenfield deposit BBC. A total of c.17,700 m of drilling was completed at the
SE deposit in 2021

§ Results for SE continue to show significant grade and extending at depth
for the deposit, as illustrated, for example, by hole SNEDD0005 containing 4
metres ("m") at 64.68 grams a ton ("g/t")

§ These and historical drilling results highlight the upside potential to
SE's current Resources and Reserves profile of 204,000 ounces ("oz") and
100,300 oz respectively, and provide an increasing level of confidence in the
overall geology of the SE deposit as a key future deposit to be mined at
Yanfolila, which is scheduled to commence in Q1, 2023.

o  The extent of the SE deposit's potential is highlighted in the graphics
(which can be viewed via [Insert Link to PDF]) including SE satellite deposit
plan view showing multiple open pits over the yet to be fully explored c.1.5
kilometers ("Km") strike zone; SE cross section drill view; and SE historical
and 2021 drill intercept cross section view over the strike zone area

§ Greenfield target BBC is receiving its first round of drill testing, and
have shown the potential to establish new resources at this deposit. This
further adds to additional greenfield upside at Yanfolila's other greenfield
deposits Karma and Diaban as highlighted in the 20 December 2021 Yanfolila
drilling update release

§ Notable drill results from the SE deposit include:

o  4m at 64.68 g/t from 63m (SNEDD0005)

o  18m at 5.13 g/t from 7m (SNERC0511)

o  16m at 4.51 g/t from 138m (SNERCO438)

o  15m at 4.44 g/t from 75m (SNERCO476)

o  18m at 3.70 g/t from 128m (SNERC0495)

o  5m at 5.06 g/t from 99m (SNERC0495)

o  7m at 7.48 g/t from 46m (SNERC0479)

o  4m at 10.36 g/t from 230M (SNEDD0008)

o  3m at 7.25 g/t from 176m (SNERC0440

§ Notable drill results from the greenfield deposit, BBC include:

o  2m at 6.22 g/t from 78m (KBCR0058)

o  3m at 4.05 g/t from 39m (KBCRC0035)

o  5m at 1.69 g/t from 4m (KBCR0045)

o  5m at 1.38 g/t from 28m (KBCRC0035)

o  3m at 1.96 g/t from 60m (KBCRC0059)

Dan Betts, CEO of Hummingbird Resources, commented:

"Today's announcement marks the completion of our 2021 Yanfolila exploration
programme of c.48,000 m. We are still awaiting on further assays from our 2021
Kouroussa drilling campaign of c.24,000 m which we will release findings on
once received and analysed, which we expect to be completed this quarter.

Overall the drill programme has demonstrated the significant upside to extend
the life of mine at Yanfolila on existing known deposits, coupled with upside
from our greenfield deposits still only in their infancy. The results from the
SE drilling are particularly encouraging, shoring up our confidence that SE
will be a key future minable deposit at Yanfolila for the years ahead. This
all is a positive step as we move towards our strategic goal of achieving a
+10-year Reserve mine life at Yanfolila."

Noris Del Bel Belluz, Group Technical Services Manager of Hummingbird
Resources, commented:

"As we round out receiving and analysing assay data from our extensive 2021
drilling campaign, the key focus for the geology team is to incorporate these
into the Company's updated 2022 Resources and Reserves databases so as to
provide valuable data to be used in our future mine plans at both Yanfolila
and Kouroussa."

Sanioumale East selected drill results

 Hole ID      Depth From (m)  Depth To (m)  Intercept Description
 SEMTDD0001*  24              52.3          28.3m @ 3.94 g/t
 SNEDD0001    315             332           17m @ 1.38 g/t
 SNEDD0002    15              20.8          5.8m @ 2.06 g/t
 SNEDD0002    29              36            7.5m @ 1.35 g/t
 SNEDD0005    63              67            4m @ 64.68 g/t
 SNEDD0007    115             123.2         8.6m @ 1.17 g/t
 SNEDD0008    208             210.8         2.8m @ 3.24 g/t
 SNEDD0008    230             234           4m @ 10.36 g/t
 SNERC0438    138             154           16m @ 4.51 g/t
 SNERC0440    176             179           3m @ 7.25 g/t
 SNERC0441    148             160           12m @ 2.00 g/t
 SNERC0445    126             134           8m @ 1.07 g/t
 SNERC0447    40              42            2m @ 5.24 g/t
 SNERC0455    72              75            3m @ 2.60 g/t
 SNERC0459    120             123           3m @ 1.75 g/t
 SNERC0467    34              40            6m @ 1.52 g/t
 SNERC0468    96              107           11m @ 1.10 g/t
 SNERC0469    43              57            14m @ 2.89 g/t
 SNERC0476    24              26            2m @ 6.32 g/t
 SNERC0476    75              90            15m @ 4.44 g/t
 SNERC0479    46              53            7m @ 7.48 g/t
 SNERC0480    192             194           2m @ 4.63 g/t
 SNERC0482    150             160           10m @ 1.82 g/t
 SNERC0487    66              72            6m @ 1.98 g/t
 SNERC0489    58              69            11m @ 2.91 g/t
 SNERC0495    99              104           5m @ 5.06 g/t
 SNERC0495    128             146           18m @ 3.70 g/t
 SNERC0498    27              29            2m @ 7.03 g/t
 SNERC0498    73              90            17m @ 2.21 g/t
 SNERC0510    59              73            14m @ 0.90 g/t
 SNERC0511    7               25            18m @ 5.13 g/t
 SNERCD0004   184             192           8m @ 2.49 g/t

* Downhole length of metallurgical hole intercept (not true width)

BBC selected drill results

 Hole ID    Depth From (m)  Depth To (m)  Intercept Description
 KBCRC0058  78              80            2m @ 6.22 g/t
 KBCRC0035  39              42            3m @ 4.05 g/t
 KBCRC0045  4               9             5m @ 1.69 g/t
 KBCRC0035  28              33            5m @ 1.38 g/t
 KBCRC0059  60              63            3m @ 1.96 g/t
 KBCRC0069  20              28            8m @ 0.68 g/t
 KBCRC0060  11              12            1m @ 5.18 g/t
 KBCRC0039  74              78            4m @ 0.95 g/t
 KBCRC0039  30              36            6m @ 0.56 g/t
 KBCRC0040  12              14            2m @ 1.67 g/t
 KBCRC0053  2               4             2m @ 1.66 g/t
 KBCRC0065  46              47            1m @ 2.37 g/t
 KBCRC0046  0               1             1m @ 2.31 g/t
 KBCRC0069  36              37            1m @ 1.77 g/t
 KBCRC0069  114             115           1m @ 1.55 g/t
 KBCRC0039  23              24            1m @ 1.46 g/t
 KBCRC0041  92              93            1m @ 1.36 g/t
 KBCRC0042  79              80            1m @ 1.15 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).

**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 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

 James Husband

 

 

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