Operational Update

RNS Number : 8346Y

Hummingbird Resources PLC

28 February 2013

 



Hummingbird Resources plc

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

Operational update and extensive Airborne Survey to be flown

Hummingbird Resources, the Liberian gold explorer with a 3.8 Moz gold Resource, announces an operational update alongside a further strengthening of the management team.

Highlights:

·     Extensive airborne geophysical survey of over 13,000 line km in the Dugbe Shear Zone to further define project pipeline

·     Appointment of Mark Fleming as Chief Geologist to head up technical team in Liberia

·     4,307m of infill drilling completed to date in 2013 to move towards Pre-Feasibility

·     Scoping Study to be delivered in Q1

·     945m trenching completed with a further 7,015m trenching to be undertaken in the coming months

The Company has commissioned a UTS airborne geophysical survey across the Company's license areas in the Dugbe Shear Zone.  Over 13,000km of survey lines are to be flown in March using high resolution fixed-wing gradiometer magnetic and radiometric equipment.  The purpose of this survey is to help identify future exploration targets.  The Company's licenses in the Dugbe Shear Zone cover approximately 2,000km² of land along a highly prospective shear zone.  This comprehensive survey should greatly enhance our understanding of the whole region and we look forward to the results.

Hummingbird is also delighted to announce the appointment of Mark Fleming as Chief Geologist to head the Company's technical team in Liberia.  Mark is a geologist with 35 years of experience in mineral exploration, mining and project evaluation, across a variety of commodities.  He has held senior management roles in operations and project evaluation, the first of which he commenced in 1994 with Normandy Mining and continued to work for, amongst others, Newmont and Resolute Mining.  He has spent the last 12 years in Ghana, Burkina Faso, Tanzania, Nigeria and Senegal.  Mark is a member of the AusIMM and is recognised by JORC as a competent person in the reporting of resources and reserves.

Hummingbird Resources continues to make good progress as it moves towards Pre-Feasibility.  4,307m of infill drilling has been completed so far in 2013.  We are now drilling at a rate of around 4,000m per month.  The results of the Scoping Study due by the end of Q1 will guide the infill drill programme needed to reach Pre-Feasibility.

The Company has continued other work with 945m of trenching undertaken in 2013 to date and a further 7,015m scheduled in the coming months.

Dan Betts, CEO of Hummingbird, commented:

"I am very encouraged with our progress in 2013 both in terms of proving up our existing resources as well as our wider exploration programme.  The recently commissioned UTS airborne survey, on-going drill programme and Scoping Study should ensure the Company keeps its momentum in the coming months.  I am also delighted that Mark has joined the team: his knowledge and experience will be of huge value to the Company."

Enquiries:

Hummingbird Resources plc

Daniel Betts, Chief Executive Officer

Thomas Hill, Finance Director

Robert Monro, Head of Business Development [phone]

Liberum Capital Limited

Nominated Adviser and Joint Broker

Tom Fyson / Christopher Kololian [phone]

Jefferies Hoare Govett

Joint Broker

Sara Hale / Thomas Rider [phone]

FTI Consulting LLP

Financial PR

Ben Brewerton / Oliver Winters / Victoria Huxster [phone]

Note: 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.

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 Company and its subsidiaries (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 total Resource is 3,817,000 ounces of gold (Indicated Resource of 1,373,000 ounces gold and Inferred Resource of 2,444,000 ounces gold).

The Group has published a NI43-101 compliant Resource on its Dugbe F deposit of 43.01 million tonnes at 1.27 g/t Au to give 1,765,000 ounces of gold using a lower cut-off grade of 0.5 g/t Au and no upper cut-off grade (Indicated Resource of 1,373,000 ounces of gold at 1.28 g/t Au and an Inferred Resource of 392,000 ounces of gold at 1.23 g/t Au).  In addition, the Group has declared a maiden Inferred Resource on its Tuzon project of 52.8 million tonnes at 1.21 g/t Au to give 2,052,000 ounces gold using a lower cut-off grade of 0.5 g/t Au and an upper cut-off grade of 7.0 g/t Au.  Tuzon lies 2.6km to the east of the Dugbe F deposit.  Exploration is being carried out to best industry practices.

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.

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

 

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