Hummingbird Resources PLC — Share Issue/Capital Change 2021

Dec 20, 2021

National Storage Mechanism | Additional information

RNS Number : 1203W

Hummingbird Resources PLC

20 December 2021

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

20 December 2021

Hummingbird Resources plc

("Hummingbird" or the "Company") 

Yanfolila Drilling Update

Drilling Results Show Life of Mine Extension Potential Continues   

Hummingbird Resources plc (AIM:HUM) provides an update on its extensive 2021 exploration drilling programme at the Sanioumale West ("SW") and greenfield deposits, Kama and Diaban, at the Yanfolila gold mine ("Yanfolila") in Mali. For the full release, including graphics, please follow the link here http://www.rns-pdf.londonstockexchange.com/rns/1203W_1-2021-12-19.pdf

The Company notes further assays have recently been received from the Sanioumale East deposit drilling campaign at Yanfolila which, once fully reviewed, are expected to be reported in Q1 2022.

Highlights

§ The Company has received and analysed c.12,800 meters ("m") of multiple assays from the SW deposit and assays from the initial drilling completed at greenfield deposits Kama and Diaban at Yanfolila

§ Results show significant grade and depth, such as 8 metres ("m") at 20.82 grams a ton ("g/t") at the SW deposit, highlighting upside potential to the deposits' current Resources and Reserves profile (164,200 ounces ("oz") and 50,400 oz respectively)

§ Kama and Diaban are two new greenfield targets receiving their first round of drill testing, showing the potential to establish new resources at these deposits

§ Notable drill results from the SW deposit include: 

§ 8m at 20.28 g/t from 61m (SNWRC0482)

§ 7m at 12.18 g/t from 14m (SNWRC0506)

§ 6m at 5.53 g/t from 76m (SNWRC0514)

§ 7m at 4.98 g/t from 40m (SNWRC0507)

§ 5m at 3.72 g/t from 40m (SNWRC0482)

§ 6m at 3.67 g/t from 72m (SNWRC0490)

§ 31m at 3.32 g/t from 55m (SNWRC0500)

§ 20m at 2.96 g/t from 23m (SNWRC0501)

§ 7m at 2.91 g/t from 165m (SNWRC0494)

§ 5m at 2.57 g/t from 78m (SNWRC0491)

§ 15m at 2.59 g/t from 97m (SNWRC0506)

§ 5m at 2.02 g/t from 13m (SNWRC0483)

§ Notable initial drill results from the Kama and Diaban deposits include:

§ 4m at 4.47 g/t from 59m (KARC0020)

§ 3m at 3.87 g/t from 35m (KARC0019)

§ 1m at 4.0 g/t from 23m (DBRC0049)

§ 1m at 2.11 g/t from 16m (KARC0002)

§ The 2021 SW drilling has been focussed on extending the Inferred Mineral Resources and testing for additional and new Mineral Resources extensions. To date, the SW drill results show high-grade mineralisation exists and remains open at depth

§ Greenfield drilling is at the reconnaissance stage at the Kama and Diaban deposits where the focus has been on testing for mineral resource potential and testing of gold mineralisation along a prospective regional structure respectively. The Greenfield drilling results show:

o  Gold mineralisation exists at Kama and is open to the north

o  Successfully intersected new zones of gold mineralisation at the Diaban deposit, proof that the regional structure is gold bearing

§ The Company is analysing future exploration potential in these areas, in particular at Kama, to further prove up their resource potential    

§ The Company has now completed its extensive ~44,000m 2021 exploration drilling programme at Yanfolila. This year's drilling programme will feed into the Company's updated 2022 Resources and Reserves statements, scheduled for release in Q2 2022

Dan Betts, CEO of Hummingbird Resources, commented:

"Yanfolila currently hosts a sizable Resources and Reserves profile of 1.93 million oz and 705,800 oz respectfully.  With today's positive drilling results from SW, in addition to the greenfield drilling results, we see potential for additional Resources and Reserves growth, taking us one step closer to the Company's strategic goal of achieving a +10-year Reserve mine life at Yanfolila."

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

"These results continue to show the potential for ongoing increases in Resources and Reserves at Yanfolila. Now that this year's extensive drilling campaign at Yanfolila has concluded, our geology team is interpreting these assay results, and those to come, to delineate additional Reserve and Resource ounces for the exploration drilling campaign in 2022, all of which will be included in our updated 2022 Company Resources and Reserves statement, scheduled for release in Q2 2022."

2021 SW drill programme summary

Following on from the successful 2020 mineral resource infill drill programme at SW, the focus for the 2021 drilling has been to follow up on the open-ended mineralisation that could lead to further open pit extensions, and which would increase the mineable reserves available to add to the operation's life of mine ("LOM") plan. 44 holes were drilled and as per the included sections, these were targeting down dip or along strike extensions below the current pit design or below the base of the modelled inferred mineral resources.

Due to the targeted nature of the drilling, many good intersections were recorded. Only the higher-grade southern portion of the 2.5-kilometre-long SW structure was drilled tested, with further drilling required to infill the northern portions of the structure and continue drill testing at depth of the higher-grade zones along the southern end of the SW structure.

The current Mineral Resources at SW are made up of a significant portion of lower grade material ideally suited to heap leaching, as shown in recent bottle roll metallurgical test work. By including and targeting these lower grade resources in addition to the high grade CIL feed material, there exist many targets to continue growing the mineral resource and its mineable reserves.  Drill testing at SW is still relatively shallow. An increased understanding of the mineralisation controls and gold distribution at deposit will assist in its growth as an important ore source for the operation, which has recently started to be mined.

2021 Greenfield drill programme summary - Kama & Diaban

As part of the LOM extension strategy, two new targets, Kama and Diaban, were drill tested to evaluate their Mineral Resource potential.

At Kama, where historical shallow artisanal workings existed along the same structure hosting the Soloba mineralisation and the Komana West deposit, 21 RC holes on a line spacing of 80m were drilled for 1,800m. In each drill section, narrow zones of mineralisation were intersected, confirming the existence of a mineralised system underlying the area. The third and northern most drill section intersected two shallow and separate mineralised intervals that remain open to the north and not drill tested to date.

The Diaban drilling was testing a conceptual target over a 1.5-km-long portion of the regional Siekorole Shear Zone (near its intersection with the Sankarani Shear Zone upon which Gonka, Komana East and Sanioumale East deposits are located).  This drilling intersected gold mineralisation, a highly positive sign that the structure is connected to a mineralised system. Further study and analysis of the drill results, the RC chips and exploration data sets is required before further follow up drilling can be planned in 2022.

SW selected drill results

Hole ID	Depth from (m)	Depth to (m)	Intercept description
SNWRC0482	10	12	2m @ 4.30 g/t
SNWRC0482	40	45	5m @ 3.72 g/t
SNWRC0482	61	69	8m @ 20.28 g/t
SNWRC0483	13	18	5m @ 2.02 g/t
SNWRC0484	51	60	9m @ 1.77 g/t
SNWRC0485	41	61	20m @ 1.76 g/t
SNWRC0485	77	85	8m @ 2.37 g/t
SNWRC0486	176	177	1m @ 9.04 g/t
SNWRC0489	30	50	20m @ 0.89 g/t
SNWRC0490	72	78	6m @ 3.67 g/t
SNWRC0491	39	53	14m @ 0.76 g/t
SNWRC0491	78	83	5m @ 2.57 g/t
SNWRC0491	93	97	4m @ 2.22 g/t
SNWRC0493	95	116	21m @ 0.78 g/t
SNWRC0494	54	79	25m @ 1.08 g/t
SNWRC0494	165	172	7m @ 2.91 g/t
SNWRC0495	94	108	14m @ 0.68 g/t
SNWRC0495	132	150	18m @ 1.97 g/t
SNWRC0499	12	19	7m @ 1.59 g/t
SNWRC0500	55	86	31m @ 3.32 g/t
SNWRC0501	23	43	20m @ 2.96 g/t
SNWRC0502	72	83	11m @ 1.57 g/t
SNWRC0506	14	21	7m @ 12.18 g/t
SNWRC0506	97	112	15m @ 2.59 g/t
SNWRC0507	40	47	7m @ 4.98 g/t
SNWRC0508	31	36	5m @ 2.35 g/t
SNWRC0509	100	108	8m @ 1.89 g/t
SNWRC0512	16	29	13m @ 0.76 g/t
SNWRC0514	76	82	6m @ 5.53 g/t
SNWRC0515	26	36	10m @ 2.20 g/t

Minimum Interval 1 m Trigger 0.5 g/t (Max 5 m Int Waste)

Greenfield selected drill results

Kama

Hole Number	Depth from (m)	Depth to (m)	Intercept description
KARC0002	16	17	1m @ 2.11 g/t
KARC0008	45	46	1m @ 1.51 g/t
KARC0008	53	56	3m @ 0.60 g/t
KARC0019	35	38	3m @ 3.87 g/t
KARC0020	59	63	4m @ 4.47 g/t

Minimum Interval 1 m Trigger 0.5 g/t (Max 5 m Int Waste)

Diaban

Hole Number	Depth from (m)	Depth to (m)	Intercept description
DBRC0019	10	12	2m @ 0.85 g/t
DBRC0023	4	5	1m @ 0.92 g/t
DBRC0029	107	110	3m @ 1.53 g/t
DBRC0040	18	19	1m @ 0.75 g/t
DBRC0049	23	24	1m @ 4.00 g/t

Minimum Interval 1 m Trigger 0.5 g/t (Max 5 m Int 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). 

**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 https://www.hummingbirdresources.co.uk/ or contact:

Daniel Betts, CEO Thomas Hill, FD Anthony Köcken, COO Edward Montgomery, CSO & ESG	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 Thomas Diehl	Canaccord Genuity Limited Broker	Tel: +44 (0) 20 7523 8000
Bobby Morse Ariadna Peretz James Husband	Buchanan Financial PR/IR	Tel:  +44 (0) 20 7466 5000 Email: HUM@buchanan.uk.com

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