Infill Drilling Results

RNS Number : 0725B

Hummingbird Resources PLC

28 March 2013

 



Thursday 28 March 2013

Hummingbird Resources plc

("Hummingbird Resources" or the "Company") (AIM: HUM)

Initial results from 2013 Infill Drill Campaign

·     Excellent width and grade confirmation

Hummingbird Resources, the Liberian gold explorer with a 3.8 Moz gold Resource, announces initial results from the first 6 holes in the 2013 infill drill campaign.  These holes represent 1,678 metres of drilling of 8,463 metres drilled to date in 2013.

The drill programme is focused on upgrading the Company's NI 43-101 compliant Tuzon Inferred resource to a Measured and Indicated resource ahead of a Pre-Feasibility Study on Hummingbird Resource's flagship Dugbe 1 project, which incorporates both the Dugbe F and Tuzon deposits. The initial results detailed below suggest that there is significant potential for higher-grade starter pits to be incorporated into the mine plan.

Initial Tuzon Drilling Results

·     TDC079                 20.31m @ 2.69g/t gold

·     TDC079                 13.37m @ 1.36g/t gold

·     TDC080                 12.40m @ 1.23g/t gold

·     TDC080                 3.00m @2.88g/t gold

·     TDC080                 24.96m @1.45 g/t gold

·     TDC081                 7.26m @ 2.91g/t gold

·     TDC083                 20.81m @ 1.32g/t gold

·     TDC084                 6.75m @1.73g/t gold

·     TDC084                 7.00m @2.02g/t gold

·     TDC084                 9.12m @2.18g/t gold

·     TDC084                 11.26m @1.49g/t gold

http://www.rns-pdf.londonstockexchange.com/rns/0725B_-2013-3-27.pdf

Dan Betts, Chief Executive of Hummingbird Resources, said:

"The initial results of the 2013 infill drill programme support our view that the Tuzon discovery has the potential for higher grade starter pits. This year's drilling is targeted at upgrading our resource and delivering sufficient information to move to the Pre-Feasibility stage.

"We are confident that the PEA, which we expect to announce around the 8^th April, will show that Dugbe 1 represents a robust, economically viable project."

ENDS

Enquiries:

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer

Thomas Hill, Finance Director

Robert Monro, Head of Business Development [phone]

Liberum Capital Limited

Nominated Adviser and Joint Broker

Tom Fyson / Christopher Kololian [phone]

Jefferies Hoare Govett

Joint Broker

Sara Hale / Thomas Rider [phone]

FTI Consulting LLP

Financial PR

Ben Brewerton / Oliver Winters [phone]

Notes to Editors

About Hummingbird Resources PLC

Hummingbird Resources plc is an AIM quoted mineral exploration company incorporated in England and Wales and headquartered in London. Since its establishment in November 2005, the Company and its subsidiaries (the "Group") has been active in Liberia, West Africa, and is currently the holder of the largest area of mineral exploration ground in the highly prospective Birimian geological region of eastern Liberia.  The Group's total Resource (based on ACA Howe International Limited's technical report) is 3,817,000 ounces of gold (Indicated Resource of 1,373,000 ounces Gold and Inferred Resource of 2,444,000 ounces gold).

The Group has published a NI43-101 compliant Resource on its Dugbe F deposit of 43.01 million tonnes at 1.27 g/t Au to give 1,765,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade (Indicated Resource of 1,373,000 ounces of gold at 1.28 g/t Au and an Inferred Resource of 392,000 ounces of gold at 1.23 g/t Au). In addition, the Group has a maiden Inferred Resource on its Tuzon project of 52.8 million tonnes at 1.21 g/t Au to give 2,052,000 ounces gold using a lower cut-off grade of 0.5 g/t Au and an upper cut-off grade of 7.0 g/t Au.  Tuzon lies 2.6km to the east of the Dugbe F deposit.  Exploration is being carried out to best industry practices.

The Group currently holds exploration licences covering approximately 7,000 square kilometres in total, which constitutes a significant proportion of eastern Liberia containing the Birimian sequence.

For more information, please visit www.hummingbirdresources.co.uk

Calculated at 0.5 g/t Au lower cut-off and 7.0 g/t Au upper cut-off						Drill collar information
Hole ID	From	To	Interval (m)	Grade (g/t Au)		EUTM Survey	NUTM Survey	RL Survey	DIP	AZ	EOH
TDC078	39.17	40.13	0.96	0.52		555201	563098	113	-60	295	234
TDC079	1.2	3.2	2	0.8		555239	562994	114	-60	295	254
	26.4	27.18	0.78	1.32
	31	33.02	2.02	4.45
	34.95	55.26	20.31	2.69
	56.32	69.69	13.37	1.36
	70.7	72.88	2.18	1.42
	174.87	175.91	1.04	1.18
	177	178.05	1.05	0.59
	179.57	180.17	0.60	2.06
	181.11	182.46	1.35	1.95
	186.67	187.9	1.23	1.79
	189.03	189.92	0.89	1.67
	193.4	194.21	0.81	0.91
	198	199.31	1.31	4.81
	201.41	205	3.59	1.72
	206.73	212.23	5.5	1.02
	217.33	219	1.67	0.8
TDC080	0	1.8	1.8	0.77		555275	563070	110	-60	295	333
	12.92	14.3	1.38	0.55
	32.6	45	12.4	1.23
	140.86	142	1.14	2.68
	154.9	157.9	3	2.88
	160.72	165.36	4.64	1.81
	191.06	194.29	3.23	0.68
	229.34	230.38	1.04	0.81
	232.34	234.34	2	0.7
	236.36	240.53	4.17	1.12
	241.54	266.5	24.96	1.45
	269.5	271.67	2.17	0.59
	274	282	8	0.86
	296.28	297.26	0.98	0.62
	300.28	301.3	1.02	1.19
	306.61	308.63	2.02	3.66
	312.82	315.76	2.94	2.46
	312.82	315.76	2.94	2.46
TDC081	0	7.26	7.26	2.91		555171	562944	118	-60	295	248
	8.43	18.82	10.39	1.16
	20.76	23.76	3	0.69
TDC083	99.57	120.38	20.81	1.32		555247	562727	124	-60	295	308
	122.4	124.22	1.82	0.72
	156	158	2	0.9
	178.4	182.06	3.66	1.13
	183.58	185	1.42	0.71
	188	191.72	3.72	1.46
	193	207	14	1.16
	209.13	211.37	2.24	0.71
	214.04	215.73	1.69	1.65
TDC084	1	2	1	0.54		555319	562872	117	-60	295	301
	14.4	15	0.6	1.95
	18.25	25	6.75	1.73
	30	37	7	2.02
	42.71	51.83	9.12	2.18
	111	112.03	1.03	5.17
	141.69	152.95	11.26	1.49
	299	300.22	1.22	0.74

Note: David Pelham has reviewed and approved the technical information contained within this announcement in his capacity as a qualified person, as required under the AIM rules.  David Pelham is Technical Director of the Company and is a member of the Institute of Materials, Minerals and Mining.

 

END

 

 

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