Kouroussa Update

RNS Number : 9021X

Hummingbird Resources PLC

10 January 2022

 

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

10 January 2022

Hummingbird Resources plc

('Hummingbird' or the 'Company')

Kouroussa Update

Kouroussa construction Begins & Ongoing High-Grade Drilling Data Received

Hummingbird Resources plc (AIM: HUM) provides an update on t he Company's mine development progress and results from further assays of the 2021 Resources and Reserves infill drilling programme, including a notable hole of 24 meters ("m") at 5.33 grams per tonne ("g/t") amongst others, at the Kouroussa Gold Mine ("Kouroussa" or "the Project") in Guinea. 

For the full release, including photos and graphics, please follow the link  here  http://www.rns-pdf.londonstockexchange.com/rns/9021X_1-2022-1-10.pdf .

Kouroussa Construction Begins:

Construction at Kouroussa has commenced following the mobilisation of equipment and personnel in December 2021. Key construction developments include (see photos below for more details):

§ Commencement of ground clearing works for key infrastructure, mine camp and processing plant

§ Further long lead item purchases are being finalised, including: SAG mill; jaw crusher; ore feeders; agitators; interstage screens; tower crane; and cyclone cluster  

§ The pit dewatering team is on site, and works have commenced to further stabilise the key mining deposits for future mining operations

§ Construction equipment, tooling, machinery, and consumables continue to arrive and are in position on site for the overall build process

§ Process plant civil works are scheduled to commence in February once more ground clearing works are completed

Kouroussa Drilling Highlights :

Hummingbird has received further assay results on 30 Reverse Circulation ("RC") and three diamond holes on the high-grade Koekoe ("KK") deposit, delivering approximately 3,200 meters out of the Company's c.24,000m infill drilling programme for 2021. To date, the Company has received c.10,050m of assays from the 2021 programme, with more expected in Q1 2022.

§ Notable drill results from the KK deposit include:

§ 24m at 5.33 g/t from 28m (KRC1873)

§ 3m at 16.06 g/t from 118m (KRC1890)

§ 3m at 11.64 g/t from 55m (KRC1803)

§ 4m at 10.31 g/t from 89m (KRC1858)

§ 4m at 9.09 g/t from 49m (KRC1858)

§ 4m at 9.76 g/t from 146m (KRCD1878)

§ 2m at 8.48 g/t from 25m (KRC1824)

§ 8m at 7.77 g/t from 95m (KRC1864)

§ 4m at 6.17 g/t from 99m (KRC1890)

§ 4m at 4.28 g/t from 35m (KRC1854)

§ 8m at 3.22 g/t from 56m (KRC1874)

· The Company continues to receive ongoing high-grade drill intercepts, coupled with multiple thick mineralisation zones, from our infill drilling campaign completed in 2021

· These updated results continue to provide increasing confidence and geological knowledge of the high-grade nature of Kouroussa's key deposit KK

· 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.24,000 m infill drilling data is analysed, and which will feed into our updated Company 2022 Resources and Reserves statements that are scheduled for release in Q2 2022

Political developments in Mali:

Additionally, the Company notes the announcement yesterday of sanctions imposed on Mali, with immediate effect, by ECOWAS ("Economic Community of West African States"), in response to the Government of Mali's proposed timetable to hold elections. The sanctions pertain to restrictions on the movement of cash, people and goods, across borders, into and out of Mali from the wider ECOWAS region. The Company is evaluating the immediate risks to our supply chain and whilst all plans will be made to minimise the potential impact it is too early to say how these sanctions may potentially affect our business. Further updates will be provided as and when appropriate.

Dan Betts, CEO of Hummingbird Resources, commented:

"We are pleased by the continued progress at Kouroussa and the commencement of construction, following the deployment of key equipment and construction personnel in December 2021. This marks another significant step towards our strategic goal of becoming a multi-jurisdictional gold producer.

Furthermore, our infill drilling programme from 2021 has continued to show significant high-grade intervals, allowing us to further strengthen our knowledge base of the Kouroussa asset. This data will be analysed by our technical team and provide a core component of our updated Company 2022 Resources and Reserves statements, scheduled for release in Q2 this year."

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

"We continue to receive high-grade infill drilling results for Kouroussa's key deposit Koekoe, giving us increasing confidence in the asset's geology and grade profile. We are busy assessing the data, which will be key contributors to the upcoming Resources and Reserves update and will play a pivotal role in Kouroussa's future mine plans."

Koekoe selected drill results

Hole ID	Depth From (m)	Depth To (m)	Intercept Description
KRC1798	26	30	4m at 1.79 g/t
KRC1803	55	58	3m at 11.64 g/t
KRC1805	5	7	2m at 2.54 g/t
KRC1808	45	46	1m at 10.72 g/t
KRC1808	71	80	9m at 2.30 g/t
KRC1808	87	90	3m at 2.45 g/t
KRC1822	22	23	1m at 5.81g/t
KRC1824	25	27	2m at 8.48 g/t
KRC1824	67	68	1m at 5.11g/t
KRC1827	106	116	10m at 1.94 g/t
KRC1848	10	12	2m at 4.03 g/t
KRC1852	51	53	2m at 4.40 g/t
KRC1854	35	39	4m at 4.28 g/t
KRC1854	56	63	7m at 1.52 g/t
KRC1855	20	24	4m at 1.44 g/t
KRC1855	29	32	3m at 3.34 g/t
KRC1858	49	53	4m at 9.09 g/t
KRC1858	89	93	4m at 10.31 g/t
KRC1864	70	71	1m at 4.76 g/t
KRC1864	95	103	8m at 7.77 g/t
KRC1871	63	69	6m at 2.64 g/t
KRC1873	28	52	24m at 5.33 g/t
KRC1874	24	26	2m at 2.61 g/t
KRC1874	34	39	5m at 2.72 g/t
KRC1874	56	64	8m at 3.22 g/t
KRC1874	60	64	4m at 1.59 g/t
KRC1890	99	103	4m at 6.17 g/t
KRC1890	118	121	3m at 16.06 g/t
KRC1920	19	20	1m at 5.10 g/t
KRCD1878	32	34	2m at 6.16 g/t
KRCD1878	113	117	4m at 2.23 g/t
KRCD1878	141	143	1.85m at 6.04 g/t
KRCD1878	146	149	3.55m at 9.76 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, a member of the World Gold Council and a founding member of Single Mine Origin ( 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   or subscribe to our investor releases via investor email alerts  

Daniel Betts, CEO Thomas Hill, FD Anthony  Köcken , COO Edward Montgomery, CSO & ESG	Hummingbird Resources plc	Tel: [phone]
James Spinney Ritchie Balmer	Strand Hanson Limited Nominated Adviser	Tel: [phone]
James Asensio Thomas Diehl	Canaccord Genuity Limited Broker	Tel: [phone]
Bobby Morse Ariadna Peretz James Husband	Buchanan Financial PR/IR	Tel:  [phone] Email:  [e-mail]

 

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