Hummingbird Resources (HUM ) has received further ‘significant’ assay results from its ongoing infill drilling programme at the Kouroussa Gold Mine in Guinea, including a notable hole of 9 metres (“m”) at 36.35 grams per tonne (“g/t”), amongst other high grade intercepts.
To date, and including today’s results, the resource company has received around 15,000 metres of assays from the 2021 programme, with the last assays expected this month.
Today, Hummingbird announced that it has received further assay results on 61 Reverse Circulation and three diamond holes on the high-grade Koekoe (“KK”) deposit, delivering around 5,567 metres out of the Company’s c.24,000m infill drilling programme for 2021.
The company said these results, in addition to the around 68,000m drilling from the 2021 campaigns for both Kouroussa and Yanfolila, will feed into its updated company 2022 resources and reserves statement that remains on target to be released in 2Q22.
The KK deposit has a current maiden Reserve of 408,900 ounces (“oz”) at 4.38 g/t, with upside potential once all the 2021 c.24,000m infill drilling data are received, analysed and included in the aforementioned updated company resources and reserves statement.
It said drill assay results ‘continue to support the current interpretation as well as highlighting additional mineralisation zones’, and the deposit remains open along strike and down plunge.
Dan Betts, CEO of Hummingbird Resources, said: “We continue to receive very high-grade drilling data from Kouroussa, which continues to strengthen our overall knowledge base and confidence of the asset’s geology. These ongoing double-digit grade drilling results show we have an asset of significant gold endowment situated in the prolific Siguiri gold region.
In recent weeks, Hummingbird Resources completed its 2021 exploration drilling programme at the Yanfolila gold mine after the firm received and analysed its final batch of assays results.
These final drilling results totalling around 48,000 metres will be included in Hummingbird’s updated 2022 resources and reserves statement which is scheduled for release in 2Q22.
Hummingbird received and analysed a further around 12,000 m of assays from the SE deposit and around 3,179 m of assays from the initial drilling done at greenfield deposit BBC.
During 2021, a total of around 17,700 m of drilling was completed at Yanfolila’s SE deposit.
Last month, it said results for SE ‘continue to show significant grade and extending at depth for the deposit’, as illustrated, for example, by hole SNEDD0005 containing 4m at 64.68 g/t.
Hummingbird believes these drilling results highlight the upside potential to SE’s current Resources and Reserves profile of 204,000 ounces (“oz”) and 100,300 oz respectively, and provide an increasing level of confidence in the overall geology of the SE deposit as a key future deposit to be mined at Yanfolila, which is scheduled to commence this year in 1Q23.
In particular, the company has highlighted the extent of the SE deposit’s potential, including multiple open pits over the yet to be fully explored c.1.5 kilometres (“Km”) strike zone.
Commenting at the time, CEO, Dan Betts said: “Today’s announcement marks the completion of our 2021 Yanfolila exploration programme of c.48,000 m. We are still awaiting on further assays from our 2021 Kouroussa drilling campaign of c.24,000 m which we will release findings on once received and analysed, which we expect to be completed this quarter.”
He said “significant upside” to extend the life of mine at Yanfolila on existing known deposits has been proven, coupled with upside from its greenfield deposits “still only in their infancy.”
“The results from the SE drilling are particularly encouraging, shoring up our confidence that SE will be a key future minable deposit at Yanfolila for the years ahead,” said Betts. Looking ahead, Hummingbird’s objective is to achieve an over 10-year Reserve mine life at Yanfolila.
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