RNS Number : 5186P
Hummingbird Resources PLC
23 May 2024
 

Company name Description automatically generated with medium confidence

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

 

23 May 2024

Hummingbird Resources plc

("Hummingbird" or the "Company")

Exploration Update

Hummingbird (AIM: HUM) is pleased to provide an exploration update, including recent drilling results at the Yanfolila Gold mine in Mali ("Yanfolila"). Through Q1-2024, the Company progressed its exploration activities, particularly at the Sanioumale West North Pit ("SWN") and Kabaya South ("KS") deposits at Yanfolila.

During the development of the Company's exploration strategy in FY-2023, Hummingbird identified both SWN and KS as resource upgrade targets, with SWN showing potential for near term addition to the operations mine plan through the upgrade of Inferred Resources into the Indicated Resources category.

At SWN, drilling operations have been completed with 2,223 meters ("m") drilled across 34 Reverse Circulation ("RC") holes and assay results received.

Key drilling results from Sanioumale West North Pit include:

·      21m @14.93 grams per tonne ("g/t") Au from 3m (SNWRC0583)

·      3m @ 6.52 g/t from 10m (SNWRC0595)

·      4m @ 3.48 g/t from 50m (SNWRC0580)

·      26m @ 2.96 g/t Au from 21m (SNWRC0580)

·      19m @ 2.02 g/t Au from 38m (SNWRC0578)

·      12m @ 2.52 g/t Au from 44m (SNWRC0582)

At KS, the Company is progressing with the updating of the historic SAMREC Resource (85 Koz (1.31g/t)) to align with JORC protocol. RC drill chips from 42 drill holes, drilled between 2006 and 2012 (total 4,192m), were relogged and are being included in the updated geological model. In addition, drone surveys were flown to obtain current topographic surfaces to account for artisanal depletion since the original Mineral Resource was estimated.

Modelling and an updated Mineral Resource Estimate ("MRE") for the drilling campaigns at SWN and re-logging of drill chips from KS are expected to be completed within the second half of the year and incorporated into next year's Resource Statement.

Detailed exploration targeting and planning is being conducted with the aim of drilling at the end of the wet season in Q3-2024.

Dan Betts, CEO and Interim Executive Chairman of Hummingbird, commented:

"Exploration is central to the long-term success of our operations, and the success of our recent findings at the Sanioumale West North Pit, demonstrated by the exceptional 21m at 14.93 g/t, are promising as we look to grow the Reserve and Resource bases and in turn expand the life of mine. We are committed to unlocking the full potential of our assets through diligent analysis and strategic planning. Our low-cost approach, coupled with the dedication of our team, positions us well for future success. We remain focused on delivering value to our shareholders while operating responsibly and sustainably in the communities where we operate."



 

Table of the Q1-2024 Sanioumale West North drilling results

Hole ID

Depth From (m)

Depth To (m)

Intercept Description (g/t Au)

SNWRC0568

30

31

1m @ 1.13 g/t

SNWRC0569

31

33

2m @ 1.54 g/t

SNWRC0569

38

40

2m @ 0.74 g/t

SNWRC0569

23

25

2m @ 0.65 g/t

SNWRC0569

45

46

1m @ 0.68 g/t

SNWRC0570

54

56

2m @ 1.16 g/t

SNWRC0570

47

49

2m @ 0.70 g/t

SNWRC0570

41

42

1m @ 0.63 g/t

SNWRC0571

18

24

6m @ 0.82 g/t

SNWRC0571

67

71

4m @ 0.97 g/t

SNWRC0571

52

57

5m @ 0.75 g/t

SNWRC0571

28

34

6m @ 0.55 g/t

SNWRC0571

11

12

1m @ 0.85 g/t

SNWRC0571

45

46

1m @ 0.66 g/t

SNWRC0571

83

84

1m @ 0.53 g/t

SNWRC0571

42

43

1m @ 0.51 g/t

SNWRC0572

31

33

2m @ 0.80 g/t

SNWRC0573

20

21

1m @ 0.99 g/t

SNWRC0573

39

40

1m @ 0.79 g/t

SNWRC0573

32

33

1m @ 0.78 g/t

SNWRC0574

56

57

1m @ 0.80 g/t

SNWRC0577

6

20

14m @ 1.80 g/t

SNWRC0577

26

28

2m @ 1.04 g/t

SNWRC0577

31

32

1m @ 0.5 g/t

SNWRC0578

38

57

19m @ 2.02 g/t

SNWRC0578

12

13

1m @ 0.63 g/t

SNWRC0578

20

21

1m @ 0.52 g/t

SNWRC0579

8

29

21m @ 1.18 g/t

SNWRC0579

34

35

1m @ 1.38 g/t

SNWRC0579

75

76

1m @ 0.61 g/t

SNWRC0580

21

47

26m @ 2.96 g/t

SNWRC0580

11

18

7m @ 2.00 g/t

SNWRC0580

50

54

4m @ 3.48 g/t

SNWRC0581

55

57

2m @ 0.67 g/t

SNWRC0581

44

45

1m @ 0.52 g/t

SNWRC0582

44

56

12m @ 2.52 g/t

SNWRC0582

11

14

3m @ 1.70 g/t

SNWRC0582

85

88

3m @ 1.55 g/t

SNWRC0582

79

81

2m @ 1.26 g/t

SNWRC0582

60

61

1m @ 0.98 g/t

SNWRC0582

70

71

1m @ 0.55 g/t

SNWRC0583

3

24

21m @ 14.93 g/t

SNWRC0583

32

36

4m @ 0.66 g/t

SNWRC0584

53

56

3m @ 2.11 g/t

SNWRC0584

63

64

1m @ 2.23 g/t

SNWRC0585

39

42

3m @ 1.45 g/t

SNWRC0585

50

51

1m @ 0.50 g/t

SNWRC0586

36

40

4m @ 0.83 g/t

SNWRC0586

32

33

1m @ 0.58 g/t

SNWRC0588

70

75

5m @ 5.84 g/t

SNWRC0588

49

50

1m @ 5.32 g/t

SNWRC0588

43

44

1m @ 1.49 g/t

SNWRC0589

58

65

7m @ 1.39 g/t

SNWRC0589

107

111

4m @ 0.69 g/t

SNWRC0589

46

49

3m @ 0.59 g/t

SNWRC0589

52

53

1m @ 1.33 g/t

SNWRC0589

100

102

2m @ 0.57 g/t

SNWRC0589

10

11

1m @ 0.95 g/t

SNWRC0589

80

81

1m @ 0.94 g/t

SNWRC0589

73

74

1m @ 0.62 g/t

SNWRC0589

76

77

1m @ 0.53 g/t

SNWRC0590

10

13

3m @ 0.70 g/t

SNWRC0590

17

20

3m @ 0.55 g/t

SNWRC0591

52

55

3m @ 0.55 g/t

SNWRC0591

44

45

1m @ 1.32 g/t

SNWRC0591

78

80

2m @ 0.60 g/t

SNWRC0591

19

20

1m @ 0.92 g/t

SNWRC0591

89

90

1m @ 0.56 g/t

SNWRC0592

36

53

17m @ 1.69 g/t

SNWRC0592

73

75

2m @ 3.35 g/t

SNWRC0592

58

61

3m @ 1.48 g/t

SNWRC0592

66

67

1m @ 3.23 g/t

SNWRC0592

21

23

2m @ 1.03 g/t

SNWRC0592

30

31

1m @ 1.07 g/t

SNWRC0593

3

4

1m @ 0.87 g/t

SNWRC0594

23

26

3m @ 0.71 g/t

SNWRC0594

10

11

1m @ 1.66 g/t

SNWRC0595

10

13

3m @ 6.52 g/t

SNWRC0595

64

70

6m @ 2.71 g/t

SNWRC0595

85

86

1m @ 1.48 g/t

SNWRC0595

35

36

1m @ 0.63 g/t

SNWRC0596

9

10

1m @ 0.73 g/t

SNWRC0597

31

34

3m @ 0.69 g/t

SNWRC0597

5

6

1m @ 0.55 g/t

SNWRC0598

36

37

1m @ 0.87 g/t

SNWRC0598

4

5

1m @ 0.58 g/t

SNWRC0600

6

7

1m @ 0.50 g/t

SNWRC0601

33

34

1m @ 0.52 g/t

Trigger 0.5 g/t, 1m minimum interval, 2m maximum internal waste

Competent Person Review:

David Muir has reviewed and approved the technical information contained within this announcement in his capacity as a Competent Person, as required under the AIM Rules for Companies. David is the Group Exploration and 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 plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold producing Company, member of the World Gold Council and founding member of Single Mine Origin (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 once at commercial production. Further, the Company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by joint venture partners, Pasofino Gold Limited. The final feasibility results on Dugbe showcase 2.76Moz in Reserves and strong economics such as a 3.5-year capex payback period once in production, and a 14-year life of mine at a low AISC profile. Our vision is to continue to grow our asset base, producing profitable ounces, while central to all we do being our Environmental, Social & Governance ("ESG") policies and practices.

 

For further information, please visit hummingbirdresources.co.uk or contact:

 

 

Daniel Betts, CEO

Thomas Hill, FD

Edward Montgomery, CD

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

Canaccord Genuity Limited

Broker

Tel: +44 (0) 20 7523 8000

Bobby Morse

Oonagh Reidy

George Pope

Buchanan

Financial PR/IR

Tel:  +44 (0) 20 7466 5000

Email: HUM@buchanan.uk.com

 

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