Hummingbird Resources (HUM ) has released drilling results from the 2021 exploration drilling programme at Komanan East (“KE”) deposit at Yanofila Gold Mine, Mali. 

Following on from the successful 2020 resource extension drilling programme which tested the mineralisation under the central part of the KE pit, the 2021 programme has focussed on targeting the relatively untested northern portion of the KE ore body with the objective to add shallow and high-grade mineral resources for a future underground mining  operation at KE.  

The 2020 drilling programme showed that the mineralisation was not closed off to the north and was  likely to continue deeper and further north than previously modelled. The 2021 drill programme was designed to test  and confirm the continuity and grade of the mineralisation. 

Figure 1; Komana East Drill Cross Section (Holes KEUGDD029 & KEUGDD022, and historic drilling) 

(Source: Company) 

The drill programme has been a success and has showed that mineralisation continues to plunge to the north and is open down dip from these current holes. Drill planning has already commenced for 2022 which will be designed to test  for further extension to the high-grade zones below the current level of drilling with a view to add further mineral resources that can be exploited by the future underground operation. 

Each hole of the programme intersected mineralisation over the +300 m long strike length tested, to a depth of approximately 200 m below surface, with excellent grades of +3 gramme per tonne (‘g/t’) achieved  

Figure 2; Komana East 2020 and 2021 Drilling Programme 

(Source: Company) 

Mineralisation is open at depth and continues to plunge to the north showing future underground mining growth potential  

These latest holes and those from the 2020 and 2021 drill programme, along with drilling carried out by Gold Fields Limited (the previous owner and operator of the asset), are being used in the economic analysis as part of the Pre-Feasibility Study ('PFS') being undertaken to prove up and include the KEUG into the Company's future mine plans 

Figure 3; Example of KE mineralisation Hole KEUGDD029 – 7.9m @ 4.22g/t from 248.1m 

(Source: Company) 

Dan Betts, CEO of Hummingbird Resources, commented: “Together with these drill results, those from early April 2021 and 2020, continue to show excellent grades at depth, highlighting underground mining potential and life of mine extension at Yanfolila, Mali. Our technical teams are carrying out the mine design and schedules as part of a rigorous process to assess the economic viability of KEUG with the aim to include it in the Company’s future mining plans.  

“Our ongoing drill results continue to be very encouraging, from various deposits, and give us increasing confidence of adding life of mine potential at Yanfolila. There are multiple assays that we are awaiting results on, which we will update the market on in the coming month 

View from VOX 

Back in April 2021, Hummingbird reassured investors that production levels during the 1Q21 were in-line with forecasts. It also added that it expected 2021 production to pick up in 2Q21. 

These positive drilling results, follow a string of successful drilling campaigns for the Company, adds to boith the intrinsic value of the Company and provides investors with a longer-term possitve outlook for HUM shares. 

Reasons to  HUM  

  • Strong underlying geological indications at Yanfolila, Kouroussa and Dugbe with more drilled expected to drive resources and production higher.  
  • Hummingbird has put a strong management team in place since 2015 with expertise in mining commodity markets and in-region experience of West Africa who have a track record of delivering projects on time and on budget.  
  • Significant growth potential of this multi-asset and multi jurisdiction mining company with appetite to expand the number of projects going.  
  • Lots of positive news events expected in FY21.