Hummingbird Resources (HUM ) says construction has officially commenced at the Kouroussa Gold Mine in Guinea following its mobilisation of certain equipment and personnel last month.
The gold-focused exploration firm has commenced ground clearing works to identify key infrastructure at the mining site while further long lead item purchases are being finalised.
It told investors that the company’s pit dewatering team is now on site, and that works have commenced in order to further stabilise the key mining deposits for future mining operations.
Following mobilisation in December 2021, construction equipment, tooling, machinery, and consumables continue to arrive and are in position on site for the overall build process.
This morning, the Company informed its shareholders that process plant civil works are scheduled to commence in February once more ground clearing works are completed.
To date, Hummingbird has received and reported further assay results on 30 Reverse Circulation (“RC”) and three diamond holes on the high-grade Koekoe (“KK”) deposit, delivering around 3,200 metres out of its c.24,000m infill drilling programme for 2021.
It has received c.10,050 m of assays from the 2021 programme, with more expected soon.
Meanwhile, the Company said it continues to receive ongoing high-grade drill intercepts, coupled with multiple thick mineralisation zones, from its infill drilling campaign in 2021.
It noted that these updated results from Kouroussa continue to provide increasing confidence and geological knowledge of the high-grade nature of the mining site’s key deposit KK.
The KK deposit has a current maiden reserve of 408,900 ounces at 4.38 g/t with upside potential once all the 2021 c.24,000 m infill drilling data is analysed and fed into the firm’s updated 2022 Resources and Reserves statements which is scheduled for release in 2Q22.
Dan Betts, CEO of Hummingbird, told investors: “We are pleased by the continued progress at Kouroussa and the official commencement of construction, following the deployment of key equipment and construction personnel in December 2021. This marks another significant step towards our strategic goal of becoming a multi-jurisdictional gold producer.”
He said the infill drilling programme from 2021 “has continued to show significant high-grade intervals, allowing us to further strengthen our knowledge base of the Kouroussa asset.
He said the data will be analysed by the technical team and provide a core component of its updated 2022 Resources and Reserves statements, scheduled for release in Q2 this year.
Noris Del Bel Belluz, Group Technical Services Manager of Hummingbird Resources, commented: “We continue to receive high-grade infill drilling results for Kouroussa’s key deposit Koekoe, giving us increasing confidence in the asset’s geology and grade profile. We are busy assessing the data, which will be key contributors to the upcoming Resources and Reserves update and will play a pivotal role in Kouroussa’s future mine plans.”
Last month, Hummingbird Resources reported positive drilling results at the Sanioumale West (“SW”) and greenfield deposits, Kama and Diaban, at the group’s Yanfolila gold mine in Mali.
The Group said 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 1Q22.
Hummingbird received and analysed c.12,800m of multiple assays from the SW deposit and assays from the initial drilling completed at greenfield deposits Kama and Diaban at Yanfolila.
The Company said the results showed 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).
The results from Kama and Diaban, two new greenfield targets that have received their first round of drill testing, have shown the potential to establish new resources at these deposits, it noted.
The Company explained that its 2021 SW drilling programme has been focused 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.
In a new podcast episode following this morning's news, Dan Betts, CEO of Hummingbird Resources, talks about the high-grade drilling data & construction beginning at their Kouroussa Gold Mine in Guinea. You can listen to the podcast here.
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