Exploration Update

Hummingbird Resources PLC

23 May 2024

 

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: [phone]
James Spinney Ritchie Balmer	Strand Hanson Limited Nominated Adviser	Tel: [phone]
James Asensio	Canaccord Genuity Limited Broker	Tel: [phone]
Bobby Morse Oonagh Reidy George Pope	Buchanan Financial PR/IR	Tel:  [phone] Email: [e-mail]

 

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