High Grade Gold Drill Results from Yanfolila

RNS Number : 4127V

Hummingbird Resources PLC

28 October 2014

 



28 October 2014

Hummingbird Resources plc

("Hummingbird Resources" or the "Company") (AIM: HUM)

High grade gold drill results from Yanfolila

Hummingbird Resources, the gold exploration and development company with assets in Mali and Liberia, is pleased to announce all infill and extension drill results from four pits within the Yanfolila Project (the "Project") in Mali. 

Yanfolila Drill Highlights:

Komana West

·     KMWRC1003 - 15m  @ 2.73g/t gold

·     KMWRC1003 - 19m  @ 2.29g/t gold

·     KMWRC1006 - 11m  @ 8.67g/t gold

·     KMWRC1010 - 3m     @ 41.5g/t gold

Sanioumale West

·     SNWRC0156 - 2m     @ 20.52g/t gold

·     SNWRC0164 - 12m  @ 5.12g/t gold

·     SNWRC0185 - 10m  @ 2.09g/t gold

·     SNWRC0193 - 2m    @ 9.04g/t gold

Dan Betts, CEO of Hummingbird Resources, said:

"These are some of the highest grade drill results in the Company's history and reaffirm our confidence in the quality of the Yanfolila Project. These results will augment existing desktop re-modelling and will allow us to update the oxide and transitional Resources in the near future.  The data from these work programmes will also further guide the engineering work being completed this year and are expected to reflect positively on the Project's Life of Mine and financial model."

Please click on the links below to see maps of the pit locations and drill hole locations within each pit.

http://www.rns-pdf.londonstockexchange.com/rns/4127V_-2014-10-27.pdf
http://www.rns-pdf.londonstockexchange.com/rns/4127V_1-2014-10-27.pdf
http://www.rns-pdf.londonstockexchange.com/rns/4127V_2-2014-10-27.pdf
http://www.rns-pdf.londonstockexchange.com/rns/4127V_3-2014-10-27.pdf
http://www.rns-pdf.londonstockexchange.com/rns/4127V_4-2014-10-27.pdf

Operational Update

The infill and extension drill programme was completed to both increase confidence in and extend existing oxide and transitional zone resources across four of the deposits within the Yanfolila Project.  The pits are Sanioumale East (drill results released in September 2014), Sanioumale West, Guiren West and Komana West.  These results, and the speed with which they have been achieved, has been extremely encouraging. Combined with the desktop re-modelling of the Gold Field's drill data already carried out by CSA Global, the Company expects to produce updated Resource estimates for the Project in due course.

Since acquisition of the Project in July 2014, the Company has completed 13,853m of Resource drilling, 542m of geotechnical drilling, 1,136m hydrological and 707m of metallurgical drilling.   All of this data is being used to complete the optimisation studies of the Project by the end of 2014 with construction due to start in Q1 2015.

The Optimisation studies are fully funded with the US$10m bridge facility drawn down from Taurus Funds Management as part of a US$75m debt facility to fund the construction of the Yanfolila Mine in 2015.

Although the first case of Ebola has now occurred in Mali, this case was over 800km by road from the Yanfolila Project. In both Nigeria and Senegal, where detection and containment was made early, those countries are now free of the disease and it is hoped that this will also be the case in Mali.  The Company continues to monitor the situation and has exercised all necessary procedures to ensure the safety of its in-country staff as the Company works towards the delivery of the optimisation studies by the end of 2014.

ENDS

Enquiries:

Hummingbird Resources plc
Daniel Betts, Chief Executive Officer
Thomas Hill, Finance Director
Robert Monro, Head of Business Development	[phone]
Cantor Fitzgerald Europe
Nominated Adviser and Corporate Broker
Stewart Dickson / Jeremy Stephenson / Carrie Lun	[phone]
FTI Consulting LLP
Financial PR
Ben Brewerton / Oliver Winters / Sara Powell	[phone]

Notes to Editors

About Hummingbird Resources Plc

Founded in late 2005, Hummingbird Resources is a West African gold explorer and developer (AIM:HUM), which listed on AIM in December 2010 with a maiden N143-101 compliant Resource of 0.8Moz gold in Liberia. Since IPO the Company has significantly grown its initial resource to 4.2Moz at its Dugbe 1 Project in Liberia, West Africa. In July 2014 Hummingbird Resources acquired Gold Fields' gold assets in Mali. Hummingbird is now a multi-project, near-term producer with 6Moz of gold and 5,000 km² of exploration ground.

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

Drill Results

Calculated at 0.5 g/t Au lower cut-off and Uncut high grade					Drill collar information
Hole ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)	EUTM Survey	NUTM Survey	RL Survey	DIP	AZ	EOH (m)
GUIRIN WEST
GRWRC1015	6	9	3	1.2	564737.276	1244798.818	364.198	-55	90	66
	23	24	1	0.58
GRWRC1017	61	64	3	1.02	564704.811	1245439.481	358.708	-55	90	90
GRWRC1020	8	10	2	0.67	564743.116	1245600.086	356.64	-55	90	60
	31	32	1	3.02
	38	42	4	0.62
GRWRC1021	52	53	1	9.19	564599.782	1243841.063	376.808	-55	90	72
GRWRC1023	17	19	2	2.69	564563.801	1243519.646	394.516	-55	90	70
GRWRC1024	27	28	1	0.95	564604.337	1243518.106	395.131	-55	90	50
GRWRC1025	12	17	5	0.4	564595.364	1243673.373	383.953	-55	90	60
GRWRC1026	50	51	1	0.69	564561.686	1243681.069	382.757	-55	90	80
GRWRC1029	75	78	3	3.46	564642.874	1244633.362	364.705	-55	90	102
	87	98	11	1.2
GRWRC1032	19	22	3	0.76	564799.084	1244958.671	365.743	-55	90	60
	27	28	1	9.75
GRWRC1033	33	34	1	2.21	564786.211	1244039.515	370.644	-55	95	40
GRWRC1034	35	40	5	1.51	564722.432	1244952.522	363.883	-55	95	80
	67	68	1	1.23
GRWRC1035	75	76	1	0.66	564577.001	1244243.828	376.851	-55	95	114
	108	110	2	3.64
GRWRC1038	86	87	1	1.02	564555.763	1244188.905	373.126	-55	135	90
GRWRC1041	20	21	1	0.72	564764.986	1244588.394	365.229	-90	0	72
	44	60	16	0.89
	63	64	1	0.68
GRWRC1042	20	28	8	1.41	564718.488	1244800.597	363.812	-70	85	80
GRWRC1044	46	47	1	9.7	564664.253	1244598.94	365.043	-55	85	90
	66	73	7	0.71
	82	84	2	0.71
KOMANA WEST
KMWRC1001	113	118	5	0.65	558104.502	1242800.194	393.574	-55	90	154
KMWRC1003	30	45	15	2.73	558242.451	1242438.496	395.712	-55	275	132
	52	71	19	2.29
KMWRC1004	18	19	1	0.61	558109.413	1241249.466	385.341	-60	270	54
KMWRC1005	8	9	1	1.45	558203.792	1241316.391	389.748	-55	270	72
KMWRC1006	33	44	11	8.67	558248.046	1241320.014	391.421	-55	270	114
KMWRC1007	0	10	10	1.12	558114.683	1241719.716	354.908	-65	270	80
	19	21	2	2.56
	24	25	1	0.53
	43	46	3	1.28
	55	56	1	1.11
KMWRC1010	0	1	1	10.5	558183.131	1241801.211	364.379	-60	270	102
	16	19	3	41.5
	22	23	1	1.73
	41	42	1	0.91
KMWRC1014	0	1	1	0.58	558088.046	1241561.058	362.639	-55	270	42
	16	26	10	1.08
	29	30	1	0.9
KMWRC1050	1	7	6	1.16	558162.214	1242038.41	358.473	-57	315	87
	29	30	1	0.63
SANIOUMALE EAST (Results released in September 2014)
SNERC0103	106	107	1	1.26	568910.042	1255698.57	375.126	-55	90	140
	127	131	4	1.27
SNERC0104	22	23	1	2.12	568940.568	1255858.313	369.324	-55	90	156
	154	155	1	0.6
SNERC0108	18	25	7	8.29	569303.487	1256340.395	354.521	-55	90	78
SNERC0111	1	5	4	1.43	569168.571	1255860.196	360.382	-55	90	80
	26	32	6	4.78
SNERC0113	23	24	1	1.65	569126.273	1255859.758	361.974	-55	90	156
	39	40	1	1.09
	75	77	2	0.98
	80	81	1	1.09
SNERC0116	98	104	6	2.66	569163.261	1256173.306	361.688	-55	90	147
SNERC0117	5	6	1	1.44	569141.008	1256013.107	362.098	-55	90	147
	53	54	1	1.67
SNERC0118	17	20	3	1.91	569227.981	1256339.408	355.92	-55	90	156
	64	76	12	1.7
	79	81	2	0.94
SNERC0121	115	118	3	4.97	569101.972	1256017.305	363.452	-55	90	158
SNERC0122	47	51	4	1.94	569334.52	1256498.35	351.376	-55	90	80
SNERC0126	149	150	1	2.81	569058.054	1256019.254	364.7	-55	90	180
	158	160	2	1.03
SNERC0127	48	56	8	5.15	568869.745	1255539.933	375.789	-55	90	78
SNERC0129	122	123	1	0.74	569049.191	1256180.096	368.086	-55	90	153
SNERC0131	82	84	2	1.2	568818.819	1255377.262	374.399	-55	90	90
SNERC0135	112	113	1	2.68	568780.058	1255377.794	374.003	-55	90	127
SNERC0138	52	53	1	2.53	568659.545	1254979.372	360.552	-55	90	67
SNERC0142	89	90	1	3.31	568602.573	1254896.45	357.984	-55	90	126
SNERC0145	40	41	1	1.36	568551.32	1254740.255	355.818	-55	90	125
SNERC0148	10	11	1	1.47	568513.61	1254256.786	362.136	-55	90	80
SNERC0150	50	51	1	1.75	568509.309	1254419.759	359.566	-55	90	80
SNERC0152	68	69	1	0.58	568509.936	1254337.697	360.667	-55	90	78
SNERC0202	16	17	1	1.27	568877.017	1255628.009	375.618	-55	90	60
	40	52	12	1.98
SNERC0204	48	49	1	0.61	569410.567	1255788.94	352.488	-55	90	72
	52	53	1	0.76
	58	64	6	0.57
SNERC0205	12	14	2	1.71	568839.266	1254832.972	355.163	-55	90	42
	30	35	5	1.92
SNERD0105	73	76	3	3.13	568868.238	1255697.427	375.56	-55	90	155.5
SNERD0110	76	78	2	1.09	569266.125	1256339.971	355.144	-55	90	136
SNERD0114	96	97	1	0.58	568831.994	1255698.438	375.831	-55	90	152.15
	115	116	1	3.65
	140	148	8	3.58
SNERD0123	40	41	1	2.69	569103.866	1255693.896	365.573	-55	90	131.3
SNERD0124	64	68	4	1.45	569299.093	1256498.271	352.032	-55	90	98.3
SNERD0128	104.5	108.5	4	3.91	568832.66	1255538.095	375.453	-55	90	149.35
	119	120	1	2.09
SNERD0137	83	84	1	1.11	568733.764	1255297.262	372.536	-55	90	159.3
SNERD0149	78	79	1	0.74	568509.98	1254575.95	356.793	-55	90	158.5
SANIOUMALE WEST
SNWRC0155	39	40	1	0.85	567409.677	1255318.862	364.718	-55	90	48
SNWRC0156	10	12	2	20.52	567375.276	1255316.544	364.397	-55	90	78
	45	49	4	0.84
	52	53	1	0.82
	62	69	7	0.65
SNWRC0157	15	16	1	0.71	567248.966	1255238.065	363.353	-55	90	40
SNWRC0159	7	8	1	3.9	567215.033	1255236.205	361.287	-60	90	60
	36	37	1	0.66
SNWRC0161	23	24	1	0.51	567334.287	1255159.156	366.374	-55	90	60
SNWRC0162	4	5	1	0.88	567293.85	1255159.859	365.469	-55	90	80
	73	76	3	0.92
SNWRC0163	59	60	1	0.63	567213.592	1255318.197	354.317	-55	90	60
SNWRC0164	5	17	12	5.12	567240.663	1254999.241	367.656	-55	90	60
	21	26	5	0.58
	33	34	1	0.82
	40	41	1	0.57
SNWRC0166	6	10	4	1.06	567277.088	1254999.23	368.376	-55	90	40
SNWRC0168	13	24	11	1.08	567249.926	1255160.138	364.415	-55	90	60
	32	33	1	0.78
	52	55	3	0.67
SNWRC0169	18	19	1	0.64	567281.707	1254918.531	369.743	-55	90	42
SNWRC0170	4	10	6	1.35	567240.364	1254918.145	368.777	-55	90	60
SNWRC0171	7	12	5	1.47	567200.146	1254917.361	367.845	-55	90	60
	16	18	2	1.34
SNWRC0172	30	36	6	1.54	567171.461	1254599.887	368.284	-55	90	80
SNWRC0173	47	48	1	0.71	567114.176	1254758.701	365.225	-55	90	79
	55	56	1	1.01
	64	68	4	0.96
SNWRC0174	12	14	2	7.19	567162.574	1254916.312	366.575	-55	90	70
	29	34	5	0.55
	47	51	4	1.39
SNWRC0175	23	26	3	5.18	567217.928	1254600.415	369.997	-55	90	50
SNWRC0176	9	13	4	0.6	567180.422	1254680.521	368.127	-55	90	84
SNWRC0178	43	49	6	0.79	567124.386	1254598.269	366.463	-55	90	70
	52	54	2	1.42
SNWRC0179	20	22	2	0.59	567159.297	1254518.662	368.422	-55	90	70
	40	44	4	1.57
	48	49	1	0.55
SNWRC0181	10	15	5	0.55	567191.23	1254438.934	370.682	-55	90	54
	20	21	1	1.6
	44	48	4	0.56
SNWRC0182	16	17	1	5.17	567146.124	1254681.13	367.039	-55	90	114
SNWRC0183	63	64	1	0.52	567080.394	1254518.285	365.454	-55	90	90
SNWRC0184	12	13	1	0.68	567174.08	1254279.493	372.363	-55	90	40
	39	40	1	0.54
SNWRC0185	61	71	10	2.09	567102.546	1254679.795	365.338	-55	90	84
SNWRC0187	4	5	1	0.56	567063.026	1254120.384	371.512	-55	90	100
	16	17	1	0.5
	36	38	2	0.59
	48	49	1	0.83
	66	70	4	0.72
	77	78	1	3.92
	88	98	10	0.73
SNWRC0188	77	79	2	0.65	567108.085	1254437.105	367.178	-55	90	90
	86	87	1	0.85
SNWRC0189	30	34	4	0.65	567037.872	1253637.92	380.123	-55	90	60
SNWRC0192	7	9	2	1.3	567020.768	1254120.129	370.357	-55	90	70
	18	19	1	0.63
SNWRC0193	22	23	1	1.64	566977.839	1253478.827	379.946	-55	90	54
	32	34	2	9.04
SNWRC0196	13	14	1	0.84	567038.305	1253721.265	379.382	-55	90	80
SNWRC0198	26	27	1	0.58	567043.832	1253798.322	378.541	-55	90	54
SNWRC0199	26	27	1	1.27	566845.97	1253393.95	377.084	-60	90	72
	30	31	1	0.8
	38	39	1	0.56
	46	47	1	1.01
SNWRD0180	38	39	1	0.82	567120.635	1254518.986	366.892	-55	90	100.35

Competent Person Review

Mr. 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 for Companies.  Mr. Pelham is a Director of the Company and is a member of the Institute of Materials, Minerals and Mining.

 

END

 

 

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