Hummingbird Resources has signed a conditional binding SPA confirming and setting out the key terms for the acquisition of the Kouroussa Gold Project in Guinea, from Cassidy Gold Corp.
This follows the completion of confirmatory due diligence by Hummingbird on the Project.
Hummingbird has also completed a more in-depth review of the Project’s geological database which highlights promising drill intersections both within and outside the current stated mineral resource used in the mine plan.
These drill intersections also demonstrate the high-grade nature of the targets proximal to the project and within the permit area.
Dan Betts, CEO of Hummingbird, comments:
“I am delighted we have been able to confirm the purchase of the Kouroussa Gold Project and look forward to working with the Government of Guinea as we progress the development of the Project as quickly as possible whilst continuing to explore the remarkable geological potential at the project.
“This marks a pivotable point in Hummingbird’s story and is a significant next step in achieving our long-term ambition to create a sustainable multi-asset gold producer. I would like to take this opportunity to thank all stakeholders who have contributed to getting us this far and continue to support us at this exciting time for the Company.”
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Murray Paterson, VP Geology of Hummingbird, comments:
“Having the opportunity to work on a new gold system at Kouroussa is extremely exciting. There is undoubtably further potential to be discovered but what is most exciting is the abundance of high grades as evidenced by the large number of gram metre intercepts >50 gram metres but also the many occurrences of visual gold.
“The old adage “Grade is King” is particularly relevant to Kouroussa and our technical team is looking forward to the challenge of unlocking the system’s full economic potential. We look forward to sharing the story as it unfolds.”
Kouroussa exploration update
The tables below illustrate a small number of the notable drill intersections with greater than 100-gram meter intervals and re-confirms the Company’s belief in the exciting exploration potential to extend the resources at Kouroussa beyond the known 1.1 Mozs.
All deposits remain open and further exploration work is required to enable Hummingbird to fully evaluate the potential of the Project.
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