Yanfolila Drilling Update

RNS Number : 0858B

Hummingbird Resources PLC

09 February 2022

 

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

9 February 2022

Hummingbird Resources plc

('Hummingbird' or the 'Company')

Yanfolila Drilling Update

Yanfolila drilling results, including 4 meters at 64.68 g/t, highlight life of mine upside potential

Hummingbird Resources plc (AIM: HUM) provides an update on  its extensive and completed 2021 exploration drilling programme at the Yanfolila gold mine ("Yanfolila") in Mali from the Sanioumale East ("SE") and greenfield deposit, BBC .  For the full release, including graphics, please follow the link here 
http://www.rns-pdf.londonstockexchange.com/rns/0858B_1-2022-2-8.pdf

The Company notes that these assays are the final to be received from the Yanfolila 2021 drilling programme, which totalled c.48,000 meters ("m"). The results from the programme are now being analysed and will be included in our updated 2022 Company Resources and Reserves statement, scheduled to be released in Q2 2022.

Drilling Highlights :

§ The Company has received and analysed a further c.12,000 m of assays from the SE deposit and c.3,179 m of assays from the initial drilling done at greenfield deposit BBC. A total of c.17,700 m of drilling was completed at the SE deposit in 2021

§ Results for SE continue to show significant grade and extending at depth for the deposit, as illustrated, for example, by hole SNEDD0005 containing 4 metres ("m") at 64.68 grams a ton ("g/t")

§ These and historical drilling results highlight the upside potential to SE's current Resources and Reserves profile of 204,000 ounces ("oz") and 100,300 oz respectively, and provide an increasing level of confidence in the overall geology of the SE deposit as a key future deposit to be mined at Yanfolila, which is scheduled to commence in Q1, 2023.

o  The extent of the SE deposit's potential is highlighted in the graphics (which can be viewed via [Insert Link to PDF]) including SE satellite deposit plan view showing multiple open pits over the yet to be fully explored c.1.5 kilometers ("Km") strike zone; SE cross section drill view; and SE historical and 2021 drill intercept cross section view over the strike zone area

§ Greenfield target BBC is receiving its first round of drill testing, and have shown the potential to establish new resources at this deposit. This further adds to additional greenfield upside at Yanfolila's other greenfield deposits Karma and Diaban as highlighted in the 20 December 2021 Yanfolila drilling update release

§ Notable drill results from the SE deposit include:

o  4m at 64.68 g/t from 63m (SNEDD0005)

o  18m at 5.13 g/t from 7m (SNERC0511)

o  16m at 4.51 g/t from 138m (SNERCO438)

o  15m at 4.44 g/t from 75m (SNERCO476)

o  18m at 3.70 g/t from 128m (SNERC0495)

o  5m at 5.06 g/t from 99m (SNERC0495)

o  7m at 7.48 g/t from 46m (SNERC0479)

o  4m at 10.36 g/t from 230M (SNEDD0008)

o  3m at 7.25 g/t from 176m (SNERC0440

§ Notable drill results from the greenfield deposit, BBC include:

o  2m at 6.22 g/t from 78m (KBCR0058)

o  3m at 4.05 g/t from 39m (KBCRC0035)

o  5m at 1.69 g/t from 4m (KBCR0045)

o  5m at 1.38 g/t from 28m (KBCRC0035)

o  3m at 1.96 g/t from 60m (KBCRC0059)

Dan Betts, CEO of Hummingbird Resources, commented:

"Today's announcement marks the completion of our 2021 Yanfolila exploration programme of c.48,000 m. We are still awaiting on further assays from our 2021 Kouroussa drilling campaign of c.24,000 m which we will release findings on once received and analysed, which we expect to be completed this quarter. 

Overall the drill programme has demonstrated the significant upside to extend the life of mine at Yanfolila on existing known deposits, coupled with upside from our greenfield deposits still only in their infancy. The results from the SE drilling are particularly encouraging, shoring up our confidence that SE will be a key future minable deposit at Yanfolila for the years ahead. This all is a positive step as we move towards our s trategic goal of achieving a +10-year Reserve mine life at Yanfolila. "

Noris Del Bel Belluz, Group Technical Services Manager of Hummingbird Resources, commented:

"As we round out receiving and analysing assay data from our extensive 2021 drilling campaign, the key focus for the geology team is to incorporate these into the Company's updated 2022 Resources and Reserves databases so as to provide valuable data to be used in our future mine plans at both Yanfolila and Kouroussa."

Sanioumale East selected drill results

Hole ID	Depth From (m)	Depth To (m)	Intercept Description
SEMTDD0001*	24	52.3	28.3m @ 3.94 g/t
SNEDD0001	315	332	17m @ 1.38 g/t
SNEDD0002	15	20.8	5.8m @ 2.06 g/t
SNEDD0002	29	36	7.5m @ 1.35 g/t
SNEDD0005	63	67	4m @ 64.68 g/t
SNEDD0007	115	123.2	8.6m @ 1.17 g/t
SNEDD0008	208	210.8	2.8m @ 3.24 g/t
SNEDD0008	230	234	4m @ 10.36 g/t
SNERC0438	138	154	16m @ 4.51 g/t
SNERC0440	176	179	3m @ 7.25 g/t
SNERC0441	148	160	12m @ 2.00 g/t
SNERC0445	126	134	8m @ 1.07 g/t
SNERC0447	40	42	2m @ 5.24 g/t
SNERC0455	72	75	3m @ 2.60 g/t
SNERC0459	120	123	3m @ 1.75 g/t
SNERC0467	34	40	6m @ 1.52 g/t
SNERC0468	96	107	11m @ 1.10 g/t
SNERC0469	43	57	14m @ 2.89 g/t
SNERC0476	24	26	2m @ 6.32 g/t
SNERC0476	75	90	15m @ 4.44 g/t
SNERC0479	46	53	7m @ 7.48 g/t
SNERC0480	192	194	2m @ 4.63 g/t
SNERC0482	150	160	10m @ 1.82 g/t
SNERC0487	66	72	6m @ 1.98 g/t
SNERC0489	58	69	11m @ 2.91 g/t
SNERC0495	99	104	5m @ 5.06 g/t
SNERC0495	128	146	18m @ 3.70 g/t
SNERC0498	27	29	2m @ 7.03 g/t
SNERC0498	73	90	17m @ 2.21 g/t
SNERC0510	59	73	14m @ 0.90 g/t
SNERC0511	7	25	18m @ 5.13 g/t
SNERCD0004	184	192	8m @ 2.49 g/t

* Downhole length of metallurgical hole intercept (not true width)

BBC selected drill results

Hole ID	Depth From (m)	Depth To (m)	Intercept Description
KBCRC0058	78	80	2m @ 6.22 g/t
KBCRC0035	39	42	3m @ 4.05 g/t
KBCRC0045	4	9	5m @ 1.69 g/t
KBCRC0035	28	33	5m @ 1.38 g/t
KBCRC0059	60	63	3m @ 1.96 g/t
KBCRC0069	20	28	8m @ 0.68 g/t
KBCRC0060	11	12	1m @ 5.18 g/t
KBCRC0039	74	78	4m @ 0.95 g/t
KBCRC0039	30	36	6m @ 0.56 g/t
KBCRC0040	12	14	2m @ 1.67 g/t
KBCRC0053	2	4	2m @ 1.66 g/t
KBCRC0065	46	47	1m @ 2.37 g/t
KBCRC0046	0	1	1m @ 2.31 g/t
KBCRC0069	36	37	1m @ 1.77 g/t
KBCRC0069	114	115	1m @ 1.55 g/t
KBCRC0039	23	24	1m @ 1.46 g/t
KBCRC0041	92	93	1m @ 1.36 g/t
KBCRC0042	79	80	1m @ 1.15 g/t

Qualified Person Review:

David Muir, 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. David is the  Group 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 (AIM: HUM) is a multi-asset, multi-jurisdiction gold production, development and exploration 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 when in production, scheduled for first gold pour end of Q2 2023. 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. Our vision is to continue to grow our asset base, producing profitable ounces, while placing our Environmental, Social & Governance ('ESG') policies and practices at the heart of all we do.

For further information, please visit   hummingbirdresources.co.uk   or subscribe to our investor releases via    investor email alerts    

Daniel Betts, CEO Thomas Hill, FD Anthony  Köcken , COO Edward Montgomery, CSO & ESG	Hummingbird Resources plc	Tel: [phone]
James Spinney Ritchie Balmer	Strand Hanson Limited Nominated Adviser	Tel: [phone]
James Asensio Thomas Diehl	Canaccord Genuity Limited Broker	Tel: [phone]
Bobby Morse Ariadna Peretz James Husband	Buchanan Financial PR/IR	Tel:  [phone] Email:  [e-mail]

 

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