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: +44 (0) 20 7409
6660
|
|
James
Spinney
Ritchie
Balmer
|
Strand Hanson
Limited
Nominated
Adviser
|
Tel: +44
(0) 20 7409 3494
|
|
James
Asensio
|
Canaccord Genuity
Limited
Broker
|
Tel: +44 (0) 20 7523
8000
|
|
Bobby Morse
Oonagh
Reidy
George Pope
|
Buchanan
Financial
PR/IR
|
Tel: +44 (0) 20
7466 5000
Email: HUM@buchanan.uk.com
|