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Hummingbird Res. (HUM)

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Thursday 01 April, 2021

Hummingbird Res.

Significant Drill Results Continue at Yanfolila

RNS Number : 2125U
Hummingbird Resources PLC
01 April 2021
 

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

1 April 2021

Hummingbird Resources plc

("Hummingbird" or the "Company") 

 

Significant Drill Results Continue at Yanfolila, Mali

 

Hummingbird Resources plc (AIM: HUM) is pleased to provide an update on the Company's 2021 exploration drilling programme at the Yanfolila gold mine, Mali. For the release details and graphics, please follow the link here  http://www.rns-pdf.londonstockexchange.com/rns/2125U_1-2021-3-31.pdf .

 

As noted in the Company's Mineral Resource Estimate ("MRE") announcement on 30 March 2021, the Company's 2021 exploration drilling programme is focused on increasing mineral resources at known deposits and testing new greenfield targets. Approximately 5,800 metres ("m") have been drilled so far in 2021, which includes 3,367 m of reverse circulation ("RC") drilling at Sanioumale East ("SE") and 2,474 m of diamond core drilling at Komana East ("KE"). The drill results from SE and KE show continued resource upside potential at both deposits, as recently highlighted in the MRE announcement.  

 

SE highlights

§ With the SE drill holes continuing to intersect mineralisation, the results highlight the potential for SE to be a material deposit, building on the positive 2020 exploration results which led to an increase of SE's JORC compliant MRE to 204,000 ounces ('oz')

§ Notable drill results from SE include

§ 38 m at 5.39 g/t gold from 58 m depth (SNERCO421)

§ 5 m at 3.07 g/t gold from 79 m depth (SNERCO420: interval1)

§ 16 m at 2.94 g/t gold from 107 m depth (SNERCO420: interval 2)

§ 8 m at 4.58 g/t gold from 154 m depth (SNERC0419)

§ 14 m at 2.63 g/t gold from 51 m depth (SNERC0413)

§ 14 m at 2.27 g/t gold from 77 m depth (SNERC0410)

§ 16 m at 2.32 g/t gold from 12 m depth (SNERC0411)

KE highlights

· The drilling at KE is targeting mineralisation for underground development ("KEUG")

· Of the KEUG drill holes completed to date in the 2021 exploration programme all nine drill holes have intersected the targeted mineralised zones

· Notable ongoing drill results from KEUG include:

§ 5.2 m at 3.83 g/t gold from 156 m depth (KEUGDD015)

§ 8.8 m at 2.87 g/t gold from 205 m depth (KEUGDD017)

§ 1.3 m at 7.00 g/t gold from 242.7 m depth (KEUGDD018)

§ 3.4 m at 5.35 g/t gold from 221 m depth (KEUGDD022)

§ 5 m at 2.23 g/t gold from 203 m depth (KEUGDD022)

 

Dan Betts, CEO of Hummingbird, commented:  

"These results for both SE and KEUG continue on from last year's drilling success, showing further upside growth potential in resources for both deposits. The SE results are indicating that the deposit is potentially of a material size and could be mined in the coming years. Hole SNERC0421, 38 m at 5.39 g/t gold from 58 m depth, is one of the best intersected drill results in the history of Hummingbird which is a pleasing achievement!"  

"Our ongoing work at the KEUG deposit is progressing well, with the aim of bringing an underground mine into our future mine plans once final drilling, permitting, portal hole access and economic studies have been finalised."

 

SE drilling summary (see graphics below for more details on the deposit)

§ The 2021 drilling at SE has intersected mineralisation in 11 of the 12 holes drilled, with mineralisation remaining open

§ Drilling is now proceeding to extend the mineralisation further to the south of the central pit and at depth below the 'New Zone' discovery

§ Hole SNERC0421 (38 m at 5.39 g/t gold from 58 m depth) was drilled to confirm the widths and grade of the original discovery hole of the 'New Zone' by SNERC0402 (42 m at 4.07g/t gold from 80 m) as highlighted in the Company's announcement dated 3 February 2021

§ This 'New Zone' remains open at depth and will be drilled further with a diamond core rig to better understand its structural controls and style of mineralisation in order to ensure its mineral resource potential is targeted effectively

§ There is further exploration upside at the SE deposit, with only 1.5 kilometres ('km') having been tested along the highly prospective 3 km Sankarani Shear gold zone anomaly where SE is situated, with more than one zone of mineralisation having already been identified

§ 15,000 m of drilling is planned at SE in 2021

 

KEUG drilling summary (see graphics below for more details on the deposit)

§ Following the discovery of the continuation of mineralisation to the north of the deposit in the 2020 drilling programme, the 2021 programme is focussing on expanding and drill testing for further mineralisation in that region. So far nine holes have been drilled for 2,474m

§ These results continue to confirm mineralisation exists at depth at the northern part of the deposit, giving the Company increased confidence of further resource growth potential for the planned KE UG mining operation

§ Key next steps for KEUG include:

§ Finalising the surface drilling programme

§ Gaining permitting approval for the KEUG mine

§ Finalising portal location and underground mine design

§ Finalising economic studies in order to bring the underground mine into future mine plans

 

Sanioumale East Selected Drill Results

Hole Number*

Depth From

Depth To

Intercept Description

SNERC0410

77

91

14m @ 2.27 g/t

SNERC0411

12

28

16m @ 2.32 g/t

SNERC0413

51

65

14m @ 2.63 g/t

SNERC0414

162

210

48m @ 0.57 g/t

SNERC0415

27

33

6m @ 5.70 g/t

SNERC0415

118

140

22m @ 0.53 g/t

SNERC0419

154

162

8m @ 4.58 g/t

SNERC0420

79

84

5m @ 3.07 g/t

SNERC0420

107

123

16m @ 2.94 g/t

SNERC0421

58

96

38m @ 5.39 g/t

SNERC0421

102

125

23m @ 0.69 g/t

*Holes with the same number represent different interval sections

 

Komana East Deposit Selected Drill Results

Hole Number*

Depth From

Depth To

Intercept Description

KEUGDD015

156

161.2

5.2m @ 3.83 g/t

KEUGDD015

170

172

2m @ 2.06 g/t

KEUGDD016

173.85

177.35

3.5m @ 1.76 g/t

KEUGDD017

172.8

176

3.2m @ 1.17 g/t

KEUGDD017

205

213.8

8.8m @ 2.87 g/t

KEUGDD018

217.8

219.35

1.55m @ 3.75 g/t

KEUGDD018

242.7

244

1.3m @ 7.00 g/t

KEUGDD018

247

248

1m @ 3.20 g/t

KEUGDD018

254

255.5

1.5m @ 1.98 g/t

KEUGDD019

205.65

208

2.35m @ 2.56 g/t

KEUGDD020

250.4

251.65

1.25m @ 2.69 g/t

KEUGDD021

224

226

2m @ 3.48 g/t

KEUGDD022

204.5

208

3.5m @ 3.05 g/t

KEUGDD022

231.6

235

3.4m @ 5.35 g/t

KEUGDD023

264

270.5

6.5m @ 1.16 g/t

*Holes with the same number represent different interval sections

 

 

SE drilling long intersection deposit map

 

SE cross section view showing newly discovered 'New Zone' at the north end of the central pit

 

 KEUG long intersection view with planned mine development

 

Qualified Person Review:

Murray Paterson 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.  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

Edward Montgomery, CSO & ESG

Hummingbird Resources plc

Tel: +44 (0) 20 7409 6660

James Spinney

Ritchie Balmer

 

Strand Hanson Limited

Nominated Adviser

Tel: +44 (0) 20 7409 3494

James Asensio

Thomas Diehl

Canaccord Genuity Limited

Broker

Tel: +44 (0) 20 7523 8000

Tim Blythe

Megan Ray

Rachael Brooks

Blytheweigh

Financial PR/IR

Tel:  +44 (0) 20 7138 3205

 

Notes to Editors:

Notes to Editors:

Hummingbird Resources (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold production, development and exploration company and member of the World Gold Council ('WGC').  Hummingbird's vision is to continue to grow its asset base, producing highly profitable ounces, while continuing to focus on its Environmental, Social & Governance ('ESG') policies and practices.  The Company currently has two core gold projects, the producing Yanfolila Gold Mine in Mali, and the Kouroussa gold development project in Guinea.  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.

 

 

 

 

 

 

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