Hummingbird Resources PLC Mining Operations Commence at Yanfolila (0468P)
August 29 2017 - 2:01AM
UK Regulatory
TIDMHUM
RNS Number : 0468P
Hummingbird Resources PLC
29 August 2017
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
Hummingbird Resources plc ("Hummingbird Resources" or
"Hummingbird" or "the Company")
Mining Operations Commence at Yanfolila Gold Project in Mali
Hummingbird Resources (AIM: HUM) is pleased to announce that
pre-production mining has commenced on schedule at its Yanfolila
Gold Project in Mali ("Yanfolila" or "the Project") which is on
track for its first gold pour by the end of 2017.
Highlights
-- Pre-production mining by contract fleet, African Mining
Services ("AMS") has commenced on schedule
-- Ore to be stockpiled in advance of its introduction to the process plant in Q4 2017
-- Process plant construction and associated infrastructure
remain on budget and schedule - commissioning anticipated in Q4
2017
-- Yanfolila is forecast to produce 132,000oz gold in its first
full year of production at a Life of Mine ("LoM") All in Sustaining
Cost ("AISC") of US$695/oz
-- Average production of 107,000oz/year of gold over the Life of
Mine in tandem with exploration and development initiatives to
expand the current mine plan
Dan Betts, CEO of Hummingbird, commented: "Commencement of
mining activities at Yanfolila is a significant milestone for
Hummingbird as we continue to bring the Project closer to
production by the end of this year. Our contract mining partners,
AMS, have mobilised a significant fleet to site and this commitment
emphasises the momentum the Project has gained throughout the
year.
"As we enter the final months of construction we remain on time
and budget for first gold by the end of 2017. We will look to build
on the current momentum as we ramp up to full scale mining and
production."
To see our latest images from site please click on the following
link; http://hummingbirdresources.co.uk/gallery/mali
Further Information
Pre-production mining is now underway and due to ramp up over
the next three months as Hummingbird approaches full scale
operations. By the end of November it is anticipated that over
three million tonnes of material will have been moved. AMS
currently has the following equipment on site at Yanfolila:
-- 1 x Liebherr 9150 Excavator
-- 1 x Liebherr 9250 Excavator
-- 6 x Caterpillar 777s
-- 5 x Caterpillar D9 Dozers
-- 1 x Caterpillar 336 Excavator
-- 2 x Caterpillar 980 FEL
During the first phase of mining there will be areas of free dig
material as well as material that will require light blasting.
Blasting will be conducted using non-electric down hole delay
detonators with ammonium nitrate, fuel oil (ANFO) for dry holes and
emulsion explosives for wet holes. AEL Mining Services will provide
an explosive storage and supply service to the mining
contractor.
Advanced grade control drilling to better delineate the orebody
and improve planning and ore scheduling to the mill is ongoing
together with state of the art Trimble differential GPS and Pix 4D
drone mapping for survey and volumetric calculations.
Minesched software is being used for short-term and life of mine
scheduling with Blockbuster software being used to update the ore
reserve model with advance grade control drilling assay
results.
**ENDS**
For further information, please visit
www.hummingbirdresources.co.uk or contact:
Daniel Betts Hummingbird Resources Tel: +44 (0)20
Thomas Hill plc 3416 3560
Robert Monro
James Spinney Strand Hanson Limited Tel: +44 (0) 20
Ritchie Balmer Nominated & Financial 7409 3494
James Bellman Adviser
Jon Belliss Beaufort Securities Tel: +44 (0) 20
Limited 7382 8300
Broker
Lottie Brocklehurst St Brides Partners Tel: +44 (0) 20
Susie Geliher Ltd 7236 1177
Financial PR/IR
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
About Hummingbird Resources Plc
Notes to Editors
Hummingbird Resources (AIM: HUM) is building a leading gold
production, development and exploration company. The Company has
two core gold projects, the near-term production Yanfolila Gold
Project in Mali and the Dugbe Gold Project in Liberia. It is
currently building Yanfolila targeting first production by end of
2017, which has a Probable Reserve of 709,800oz @ 3.14g/t and total
Resources of 1.8Moz of gold and an additional 390,700oz of
non-compliant exploration potential. The high-grade gold project
has low operating costs of US$695/oz AISC with 132,000oz of first
full year's production.
The 4.2Moz Dugbe Gold Project in Liberia provides Hummingbird
with excellent development upside. An optimisation of the DFS is
on-going whilst Yanfolila is brought to production in the
near-term. Additionally, the Company has 4,000km(2) highly
prospective exploration ground in Mali and Liberia and is
constantly evaluating new quality assets.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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