GCIHummingbird Resources reports positive drilling results at Yanfolila gold mine
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 today's 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).
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.
Hummingbird noted that 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.’
To date, drilling results at Greenfield have shown that gold mineralisation exists at Kama and is open to the north. Meanwhile, it has also shown successfully intersected new zones of gold mineralisation at the Diaban deposit, proof that the regional structure is gold bearing.
The Company told investors that it is now analysing future exploration potential in these areas, in particular at Kama, in order to further prove up their resource potential.
In addition, Hummingbird has now completed its ~44,000m 2021 exploration drilling programme at Yanfolila. The drilling programme is expected to feed into the Company's updated 2022 Resources and Reserves statements, scheduled for release in 2Q22.
Commenting, Dan Betts, CEO of Hummingbird Resources, outlined: "Yanfolila currently hosts a sizable Resources and Reserves profile of 1.93 million oz and 705,800 oz respectively. 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, Hummingbird’s Technical Services Manager, said the results “continue to show the potential for ongoing increases in Resources and Reserves at Yanfolila.”
He said assay results were being interpreted “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 2Q.”
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