TIDMHUM
RNS Number : 3929H
Hummingbird Resources PLC
06 April 2022
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
6 April 2022
Hummingbird Resources plc
('Hummingbird' or the 'Company')
Kouroussa Guinea Update
Civil Works Begin & Material High-Grade Drilling Assays
Received
Hummingbird Resources plc (AIM: HUM) provides an update on t he
Company's mine development progress and results from further assays
of the 2021 Resources and Reserves infill drilling programme at the
Kouroussa Gold Mine ("Kouroussa" or "the Project") in Guinea .
For the full release, including photos and drilling graphics,
please follow the link
http://www.rns-pdf.londonstockexchange.com/rns/3929H_1-2022-4-5.pdf
Further, updated video footage of the Kouroussa development is
available here , and an updated interview with COO, Anthony Köcken
on the overall progress at Kouroussa, can be viewed here .
Kouroussa Update:
The development and construction of Kouroussa continues to
advance rapidly and remains on track to achieve the scheduled first
gold pour by the end of Q2 2023. The construction update is as
follows:
-- Civil and construction works:
o Civil works have begun, and earthworks are nearing completion
at the processing plant with mine camp site areas to then allow for
cement foundation works to begin
o Foundation concrete and steel reinforcement work is taking
place for the CIL tanks installation
o Mine camp for construction personnel is now operational,
allowing the Company to have more construction personnel on site
versus housed in the local areas, with over 350 construction,
administrative and security personnel in place for the overall
construction process
-- Processing plant:
o Fabrication of the CIL tanks have commenced on-site and are
rapidly advancing towards completion
o Structural, mechanical, and piping works will begin following
the completion of foundation works at the process plant area
-- Long lead items, contracts, and community engagement:
o Further long lead items have been purchased, including apron
feeders, jaw crusher, SAG mill, cyclone cluster and agitators
o Construction equipment, tooling, machinery, personnel, and
consumables continue to arrive on-site and are in position for the
next phase of the overall build process
o Power plant and mining contractor contracts are in the final
stages of negotiation and are expected to be awarded soon
o Detailed community engagement is taking place with our on-site
health, safety, environmental and community ("HSEC") teams
Kouroussa Drilling Highlights :
Hummingbird has received assay results on a further 86 Reverse
Circulation ("RC") and 12 diamond holes on the high-grade Koekoe
("KK") deposit, delivering approximately 9,900 meters ("m") of the
Company's c.24,000m infill 2021 drilling programme. The focus of
this infill drilling programme has been to convert current in-pit
Inferred material to Indicated and build upon the already extensive
historical drilling to expand Kouroussa's life of mine and overall
Reserves base.
The Company is awaiting the final c.3,600m of assays, which are
expected to be received soon and will conclude the 2021 Kouroussa
drilling results to be received.
-- Notable drill results from the KK deposit include:
o 3m @ 18.63 g/t from 27m (KRC1953)
o 7m @ 2.98 g/t from 36m (KRC2003)
o 11m @ 5.62 g/t from 64m (KRC2036)
o 3m @ 34.84 g/t from 51m (KRC2041)
o 1m @ 47.60 g/t from 152m (KRC2042) *
o 9m @ 4.55 g/t from 34m (KRC2044)
o 2m @ 9.65 g/t from 120m (KRCD1886)
o 8.6m @ 6.31 g/t from 107.6m (KRCD1891)
o 7m @ 9.83 g/t from 101m (KRCD1896)
o 12.6m @ 5.11 g/t from 66.45m (KRCD1898)
*Note that Hole KRC2042 ended with mineralisation ongoing
These and previous results continue to show the significant gold
endowment at Kouroussa, with multiple high-grade zones that remain
open.
These assays, alongside additional results from the Kouroussa
and Yanfolila drilling programmes will feed into the updated
Company 2022 Resources and Reserves statement that is expected to
be released in Q2 2022.
Dan Betts, CEO of Hummingbird Resources, commented:
"We are rapidly advancing into the next phase of the Kouroussa
build process with civil works now underway. We remain focused on
delivering Kouroussa on schedule and on budget for a first gold
pour by the end of Q2 2023, which will then more than double our
current production profile.
Our 2021 Kouroussa drilling programme continues to deliver
results that highlight the significant gold endowment we have at
Kouroussa. Our geology team has also identified thicker
mineralisation zones and shallower dipping westerly zones than
originally believed, which is a positive for future mining at
Kouroussa. These results continue to be analysed and incorporated
into our updated Company Resources and Reserves statement, which is
expected to be released at the end of Q2."
Anthony Köcken, COO of Hummingbird Resources, commented:
"Our Kouroussa construction team is working well in advancing
the Project towards the first gold pour. We are now in the civil
work construction phase, which involves a new level of technical
expertise that our teams are now bringing into the overall process.
The awarding of power and mining contractor contracts is nearing
finalisation, which will also be a key milestone for Kouroussa,
allowing key infrastructure and mining processes to begin."
Kouroussa Drilling Results Summary
The 2021 Kouroussa infill drilling campaign was completed in
December, and all RC assay results have now been delivered, as we
await the final diamond drill hole assays of c.3,600m to be
received and analysed.
The objectives of this infill drilling campaign have been to
convert current Inferred Mineral Resources within the KK open pits
to Indicated Mineral Resources and to include the multiple
mineralisation zones not contained within the current grade
domains. Drilling was targeted at the deeper inferred material
within the main KK pit, extensions of the current Mineral Reserve
Estimate, shallow mineralised zones and initial testing of
underground Mineral Resource potential.
Given the results as seen from today's release, and those of the
other four Kouroussa drilling results we have released, as well as
the historical drilling results of over 300,000m, the Company
believes that these objectives have been achieved. Our geology team
and external consultants are busy collating the 2021 drilling data
to be included in our upcoming Company Resources and Reserves
statement, scheduled for release in late Q2 2022.
Initial observations from this infill drilling programme
indicate that there are two predominant orientations of
mineralisation, namely the subvertical domains around the main
shear zones and flatter lying domains to the west of the main shear
zone. The main shear zone domain in Sanu Filanan appears to be
wider, and the westerly zones shallower dipping than modelled in
the original interpretation. Much of the mineralisation appears to
be open at depth. The deepest drill holes were c.200m in length and
several drill holes ended in further mineralisation, which is
encouraging.
Furthermore, the results show there is significant exploration
potential along strike and down plunge with several targets
generated for future exploration to expand the current Mineral
Resource. There are also Inferred Mineral Resources at deposits X
Vein and Bag Farm Junction, which have historical drilling
completed, but no drilling has been completed by Hummingbird to
date.
Koekoe selected drill results
Hole ID Depth From (m) Depth To (m) Intercept Description
KRC1953 27 30 3m @ 18.63 g/t
--------------- ------------- ----------------------
KRC1955 17 22 5m @ 2.99 g/t
--------------- ------------- ----------------------
KRC1969 26 32 6m @ 1.94 g/t
--------------- ------------- ----------------------
KRC1971 18 23 5m @ 2.16 g/t
--------------- ------------- ----------------------
KRC1976 3 4 1m @ 19.13 g/t
--------------- ------------- ----------------------
KRC1989 12 23 11m @ 1.36 g/t
--------------- ------------- ----------------------
KRC2002 58 59 1m @ 11.10 g/t
--------------- ------------- ----------------------
KRC2003 36 43 7m @ 2.98 g/t
--------------- ------------- ----------------------
KRC2005 30 34 4m @ 2.71 g/t
--------------- ------------- ----------------------
KRC2005 82 83 1m @ 12.10 g/t
--------------- ------------- ----------------------
KRC2008 51 54 3m @ 4.03 g/t
--------------- ------------- ----------------------
KRC2010 41 45 4m @ 3.11 g/t
--------------- ------------- ----------------------
KRC2017 19 25 6m @ 3.01 g/t
--------------- ------------- ----------------------
KRC2017 28 32 4m @ 3.46 g/t
--------------- ------------- ----------------------
KRC2027 28 29 1m @ 11.30 g/t
--------------- ------------- ----------------------
KRC2028 69 74 5m @ 2.42 g/t
--------------- ------------- ----------------------
KRC2034 28 37 9m @ 1.86 g/t
--------------- ------------- ----------------------
KRC2036 34 40 6m @ 3.13 g/t
--------------- ------------- ----------------------
KRC2036 64 75 11m @ 5.62 g/t
--------------- ------------- ----------------------
KRC2037 87 88 1m @ 18.50 g/t
--------------- ------------- ----------------------
KRC2041 51 54 3m @ 34.84 g/t
--------------- ------------- ----------------------
KRC2042 152 153 1m @ 47.60 g/t
--------------- ------------- ----------------------
KRC2044 34 43 9m @ 4.55 g/t
--------------- ------------- ----------------------
KRCD1886 120 122 2m @ 9.65 g/t
--------------- ------------- ----------------------
KRCD1887 26.38 31 4.6m @ 2.29 g/t
--------------- ------------- ----------------------
KRCD1888 134 140 6m @ 2.99 g/t
--------------- ------------- ----------------------
KRCD1888 143 147.3 4.3m @ 3.67 g/t
--------------- ------------- ----------------------
KRCD1891 107.6 116.2 8.6m @ 6.31 g/t
--------------- ------------- ----------------------
KRCD1895 66.5 68 1.5m @ 7.07 g/t
--------------- ------------- ----------------------
KRCD1896 101 108.03 7m @ 9.83 g/t
--------------- ------------- ----------------------
KRCD1898 66.45 79 12.6m @ 5.11 g/t
--------------- ------------- ----------------------
Trigger 1 g/t, 1m minimum interval, 2m maximum internal
waste
Koekoe summary of previously released Hummingbird selected drill
results
Hole ID Depth From (m) Depth To (m) Intercept Description
KRC1754 27 47 20m @ 7.96 g/t
--------------- ------------- ----------------------
KRC1776 82 87 5m @ 37.11 g/t
--------------- ------------- ----------------------
KRC1778 96 101 5m @ 19.02 g/t
--------------- ------------- ----------------------
KRC1780 56 63 7m @ 8.71 g/t
--------------- ------------- ----------------------
KRC1831 57 63 6m @ 18.80 g/t
--------------- ------------- ----------------------
KRC1839 74 92 18m @ 7.37 g/t
--------------- ------------- ----------------------
KRC1840 46 64 18m @ 4.12 g/t
--------------- ------------- ----------------------
KRC1844 65 69 4m @ 53.84 g/t
--------------- ------------- ----------------------
KRC1844 133 140 7m @ 9.78 g/t
--------------- ------------- ----------------------
KRC1849 55 69 14m @ 21.85 g/t
--------------- ------------- ----------------------
KRC1853 52 61 9m @ 6.74 g/t
--------------- ------------- ----------------------
KRC1853 93 104 11m @ 5.25 g/t
--------------- ------------- ----------------------
KRC1856 90 99 9m @ 36.35 g/t
--------------- ------------- ----------------------
KRC1857 49 57 8m @ 9.35 g/t
--------------- ------------- ----------------------
KRC1864 95 103 8m @ 7.77 g/t
--------------- ------------- ----------------------
KRC1866 76 104 28m @ 9.35 g/t
--------------- ------------- ----------------------
KRC1903 96 105 9m @ 30.58 g/t
--------------- ------------- ----------------------
KRC1917 92 99 7m @ 10.14 g/t
--------------- ------------- ----------------------
KRC1921 89 99 10m @ 7.34 g/t
--------------- ------------- ----------------------
KRC1924 53 63 10m @ 10.26 g/t
--------------- ------------- ----------------------
KRC1941 11 19 8m @ 7.50 g/t
--------------- ------------- ----------------------
KRC1953 27 30 3m @ 18.63 g/t
--------------- ------------- ----------------------
KRC2041 51 54 3m @ 34.84 g/t
--------------- ------------- ----------------------
KRCD1729A* 84 114 30m @ 64.31 g/t
--------------- ------------- ----------------------
KRCD1728* 135 147 12m @ 5.39 g/t
--------------- ------------- ----------------------
KRCD1869 123.6 126 2.4m @ 22.58 g/t
--------------- ------------- ----------------------
KRCD1873 28 52 24m @ 5.33 g/t
--------------- ------------- ----------------------
KRCD1880 94.1 98.8 4.7m @ 15.82 g/t
--------------- ------------- ----------------------
KRCD1883 147 152.6 5.6m @ 9.31 g/t
--------------- ------------- ----------------------
KRCD1884 12.9 23.9 11m @ 5.35 g/t
--------------- ------------- ----------------------
KRCD1884 36 41 5m @ 11.11 g/t
--------------- ------------- ----------------------
KRCD1891 107.6 116.2 8.6m @ 6.31 g/t
--------------- ------------- ----------------------
KRCD1896 101 108 7m @ 9.83 g/t
--------------- ------------- ----------------------
KRCD1898 66.5 79 12.6m @ 5.11 g/t
--------------- ------------- ----------------------
* Downhole length of metallurgical hole intercept (not true
width)
Trigger 1 g/t, 1m minimum interval, 2m maximum internal
waste
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).
Notes to Editors:
Hummingbird Resources (AIM: HUM) is a multi-asset,
multi-jurisdiction gold production, development and exploration
Company, a member of the World Gold Council and a founding member
of Single Mine Origin ( 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 Hummingbird Resources plc Tel: +44 (0) 20 7409 6660
Thomas Hill, FD
Anthony Köcken, COO
Edward Montgomery, CSO & ESG
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409 3494
Ritchie Balmer Nominated Adviser
-------------------------- ----------------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523 8000
Thomas Diehl Broker
-------------------------- ----------------------------
Bobby Morse Buchanan Tel: +44 (0) 20 7466 5000
Ariadna Peretz Financial PR/IR Email: HUM@buchanan.uk.com
James Husband
-------------------------- ----------------------------
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