Exploration Update since Admission to AIM

RNS Number : 8445C

Hummingbird Resources PLC

14 March 2011

 



Hummingbird Resources plc

("Hummingbird" or the "Company" or the "Group")

(AIM: HUM)

Exploration Programme Update since Admission to AIM

Hummingbird Resources plc today announces an update on the exploration programmes in and adjacent to the Group's most advanced gold project, Dugbe F, in the Birimian domain of south-eastern Liberia.

Highlights

The Dugbe F gold project (within the Dugbe Shear Zone)

-     Located within the 70 kilometre long Dugbe Shear Zone, where the Company holds over 2,000 square kilometres of highly prospective ground and drilled a NI43-101 compliant gold resource of 812,000 ounces of gold in 2010 within eight months of drilling.

-     So far in 2011, 20 holes for 2,050.5 metres at Dugbe F completed; XRF arsenic results show good indications that every hole appears to intersect a continuation of the mineralised zone southwest towards the adjacent Joe Village licence area; awaiting assay results to confirm.

-     Assay results received from the soil sampling programme prove a robust extension of gold in soil anomaly to the southwest into the Joe Village licence area.

-     Preliminary interpretation of the recent ground magnetic survey conducted across the 5km x 1.1km Dugbe F drill grid indicates strong magnetic anomalies over anomaly A extending westward into Joe Village, as well as to the north of Anomaly E, which remains to be drilled.

The Dugbe Shear Zone - including the Joe Village licence area

-     Exploration work underway to prioritise drill targets for delineation of continuing mineralised zone at Dugbe F, as well as generating new drill targets within Dugbe Shear Zone.

-     Joe Village licence: 1,321 soil samples taken during February over two soil grids; results received for Grid 1 and awaited for Grid 2. Results received indicate a south-westwards extension of the Dugbe F ore body into which the current drill programme will be focused.

-     Extensive soil sampling programmes to establish new drill targets in the Dugbe Shear Zone area (see below for details).

Commenting today, Daniel Betts, CEO of Hummingbird Resources plc said: "We are extremely encouraged by the initial results of our 2011 drill programme at our Dugbe F project which would seem to substantiate our belief in the continuation of the mineralised zone. We have obtained good widths of near surface arsenic mineralisation as indicated by handheld XRF from all holes drilled to date.   Arsenic has in the past been shown to have a direct correlation with gold mineralisation at Dugbe F.  We will continue drilling into the newly discovered extension of the gold in soil anomaly into the Joe Village licence area in order to add ounces to our existing resource.

"Furthermore, we are extremely encouraged by the results from the various field programmes focused along the length of the Dugbe Shear Zone which continue to add weight to our model that our Dugbe F deposit is small part of a much larger mineralised system."

TO VIEW MAPS OF THE PROGRAMMES IN THE DUGBE SHEAR ZONE AREA, PLEASE CLICK ON THE FOLLOWING WEB LINK:

http://www.rns-pdf.londonstockexchange.com/rns/8445C_-2011-3-13.pdf

Dugbe F gold project

At Dugbe F, two diamond core rigs are on site with an initial 5,000 metre drill programme planned to delineate further extensions to the Dugbe F mineralised zone.

20 holes of the resumed resource drilling programme have intersected significant near surface arsenical zones which are consistent with the existing ore body as identified by the drill programme of 2010.  Assay results will be received over the coming weeks but the arsenical zones identified with a handheld XRF device (utilized in line with the Company's in-house QA/QC procedures) which helps guide the drill programme, shows robust correlation with the existing ore body.  To date, the NI43-101 compliant resource is hosted within such an arsenical zone and the Company is confident that these current results show that the known ore body is extending west into the Joe Village licence area.

The NI43-101 compliant resource presently stands at an Indicated resource of 552,000 ounces of gold at 1.078 g/t and an Inferred resource of 260,000 ounces of gold at 1.624 g/t, to give a combined (for the purposes of AIM) total of 812,000 ounces of gold at the Dugbe F licence.

Dugbe F / Joe Village Target Area
Summary of Diamond Drill Holes Drilled in 2011
HOLE ID	EUTM	NUTM	INCLINATION	AZIMUTH	START DATE	END DATE	FINAL DEPTH
Rig 1 - Holes Drilled on Anomaly A Moving Westwards Towards Joe Village Licence
DFDC094	550129	562277	-60	295	08/02/2011	10/02/2011	65.1m
DFDC095	550072	562216	-60	295	09/02/2011	11/02/2011	86.1m
DFDC097	550129	562194	-60	295	12/02/2011	14/02/2011	95.1m
DFDC098	550346	562440	-60	295	14/02/2011	15/02/2011	59.1m
DFDC100	550346	562440	-60	295	16/02/2011	20/02/2011	60.0m
DFDC102	550124	562368	-60	295	21/02/2011	23/02/2011	100.0m
DFDC103	550214	562396	-60	295	23/02/2011	25/02/2011	100.3m
DFDC105	550014	562328	-60	295	25/02/2011	26/02/2011	70.6m
DFDC106	550052	562401	-60	295	27/02/2011	01/03/2011	85.5m
DFDC108	550085	562122	-60	295	01/03/2011	02/03/2011	70.4m
DFDC109	550026	562143	-60	295	03/03/2011	04/03/2011	100.6m
DFDC110	549955	562188	-60	295	05/03/2011	07/03/2011	75.3m
DFDC112	549986	562249	-60	295	07/03/2011	09/03/2011	80.5m
DFDC115	549919	562285	-60	295	09/03/2011	In Progress	66.8m
Rig 2 - Holes Drilled Downdip of Anomaly A
DFDC096	550686	562021	-60	295	12/02/2011	14/02/2011	130.2m
DFDC099	550753	561982	-60	295	15/02/2011	19/02/2011	160.1m
DFDC101	550717	561912	-60	295	19/02/2011	24/02/2011	120.2m
DFDC104	550790	562055	-60	295	25/02/2011	01/03/2011	175.0m
DFDC107	550895	562097	-60	295	01/03/2011	04/03/2011	185.0m
DFDC114	550919	562180	-60	295	05/03/2011	In Progress	164.6m
Grand Total Drilled in 2011							2,050.5m
Note	Drill metreages are up to end of day shift on Thursday 10th March 2011

Dugbe Shear Zone - soil sampling programmes

Approximately 3,000 soil samples have been taken by Hummingbird, over a four month period, as part of the ongoing soil sample programmes, both to delineate further extensions to the Dugbe F anomaly, and to establish new drill targets in the Dugbe Shear Zone area.

Dugbe Shear Zone - Joe Village

At the Joe Village licence, directly west of the Dugbe F gold deposit, 1,321 soil samples have been taken, over two soil grids. Results from Grid 1 have been received and are pending for Grid 2.  Soil assay results from Grid 1 in Joe village (directly adjacent and west of Dugbe F) returned highly encouraging results; out of the 419 samples, 11 samples returned assays greater than 1,000ppb Au with a high of 4,346 ppb Au.  The soil anomalies extend directly from the 4.8km north-northeast trending gold in soil anomaly at Dugbe F, of which only the lower 2.8km has been drilled to date (Anomalies A, B, C and D).  The newly identified gold in soil results from Grid 1 strongly indicate a south-westwards extension of the Dugbe F ore body into which the current drill programme will be focused; with the first 20 holes totalling 2,050.5m having already been drilled since early February. 

Dugbe Shear Zone -Dugbe Blocks F and D (Tuzon area)

A soil sampling programme is underway on Grids 3 and 4 at Dugbe Blocks F and D, which is in the Tuzon area 3 to 10 kilometres due east of Dugbe F and has drivable road access.  Grid 3 (652 soil samples) has been completed and sent for analysis.  The soil sampling team has mobilized to Grid 4 in Block D to collect an additional 295 soil samples, which is expected to be completed by the end of March. These represent new targets defined by first pass stream sediment sampling as well as evidence of significant artisanal workings seen from satellite imagery.

Dugbe Shear Zone - Dugbe Block B

The Dugbe Block B target, in the Juayen area, approximately 20 km due east of Dugbe F, is based on an eight kilometre long, strong gold in soils anomaly, where some of Hummingbird's highest gold in stream sediment samples come from. A 417 sample programme of soil spur sampling targeting two highly prospective topographic high features with which extensive artisanal gold workings are associated, is currently on-going with the aim to delineate scout drill targets.

Dugbe Shear Zone - Tiehnpo

Analysis at Tiehnpo is also ongoing and evaluation of recently acquired satellite imagery outlines a significant new target extending over an area of approximately 25 square kilometres based on the presence of extensive artisanal workings located directly downslope of a 10 kilometre east-west trending range of low hills.  Tiehnpo is located to the east of the Dugbe Shear Zone. This exciting sizeable target has direct access by driveable road from Zwedru. Work is in process to initiate a large (3,500 samples) soil programme across this range, and is planned to commence by the end of March and take 6 to 8 weeks to complete.

Dugbe Shear Zone - Nemo Creek

In addition, Hummingbird is awaiting results from Nemo Creek where 713 soil samples have been taken over three grids located less than 7 kilometres south of Dugbe F, within the Dugbe Shear Zone.  The three grids have targeted previous positive results from first-pass, widely spaced soil sample lines.

Dugbe Shear Zone - Stream Sediment Sampling Programmes

Hummingbird policy is to undertake stream sediment sampling as first pass exploration in newly explored areas.   In accordance with this policy, a sample programme for over 1,000 samples is underway in the outlying parts of the Nemo Creek, Joe Village and Tiehnpo licence areas.  Results from these samples will enable the Hummingbird to further determine the extent of gold mineralisation in these areas, which form part of the extensive Dugbe Shear Zone.

Juazohn Shear Zone - Zia licence

Results are now back from the scout drilling programme at the Zia licence which was conducted over Q4 2010 and Q1 2011. The results show a metasedimentary sequence hosting Banded Iron Formation (BIF) containing a complex mineralised system which is currently being interpreted by independent consultants to determine the next steps forward.

Mt Ginka

Under the joint venture agreement with Petmin Limited, entered into on 25 January 2011, an aeromagnetic survey over the Mount Ginka ridge is due to commence imminently.  The aim of the aeromagnetic survey is to help identify the extent of itabirite units within the Mt. Ginka ridge.

Other activities

1,402 stream sediment samples have been taken since Admission. A total of 461 samples have been taken from the Tawake licence, 374 samples from Plibo licence and 567 from the Gekehn licence which are all part of the Dube Shear system to the far southeast of the country.  A first pass stream sediment sampling programme across the Plibo licence showed  sufficiently encouraging results (8 samples greater than 1,000 ppb Au, with a high of 3,761 ppb Au) to warrant a second pass stream sediment sampling programme.  

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.

Enquiries:

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer

Thomas Hill, Chief Financial Officer and Company Secretary [phone]

Liberum Capital Limited

Nominated Adviser and Joint Broker

Tom Fyson / Richard Bootle+44 (0)20 3100 2222

Mirabaud Securities LLP

Joint Broker

Peter Krens [phone]

Threadneedle Communications Limited

Graham Herring /Beth Harris [phone]

Notes to Editors

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 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 licences are prospective for gold, iron ore and other minerals.

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.

The Group's most advanced gold exploration has taken place in the Dugbe, Zia and Jababli licence areas, with Dugbe Block F with a recently confirmed gold resource of 20.90 million tonnes at 1.208 g/t to give 812,000 oz Au using a cutoff grade of 0.5 g/t. The exploration has been based on sound geological premises and has been executed in an efficient and practical manner according to best industry practices.

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

 

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