It’s been an eventful week for AIM-listed Hummingbird Resources as it continues to progress its Yanfolila Mine in Mali.
For starters, the company announced a Mineral Resources Estimate (MRE) update based on its 2020 exploration programme. A total of 255 600 oz of gold were discovered during the exploration programme across three key deposits.
The programme, costing $5 million, had three key focus areas, namely: To add additional resources to show the ability to extend the mine life and test new greenfield targets; to improve confidence in the company’s mineral inventory by infill drilling within the pit shells; and to reorganise the company’s MRE database to include increased JORC reporting.
In terms of additional resources, the following was achieved:
- At Sanioumale East , 141 900 oz of gold were discovered. The JORC MRE is now 204 000 oz.
- At Sanioumale West , 26 200 oz of gold were discovered the JORC MRE is now 164,200 oz.
- At Komana East, 87,500 oz of gold were discovered. The JORC MRE is now 560,600 oz.
The 2021 exploration budget has been doubled to $10 million, and will focus on the three key deposits and greenfield targets.
Significant drill results achieved
Meanwhile, Hummingbird Resources has also made significant progress with its drilling programme at Yanfolila.
Approximately 5 800 m have been drilled so far in 2021, which includes 3 367 m of reverse circulation drilling at Sanioumale East and 2 474 m of diamond core drilling at Komana East. The drill results show continued resource upside potential at both deposits.
Dan Betts, CEO of Hummingbird, commented, “These results continue on from last year’s drilling success, showing further upside growth potential in resources for both deposits. The Sanioumale East results are indicating that the deposit is potentially of a material size and could be mined in the coming years. “Our ongoing work at the Komana East deposit is progressing well, with the aim of bringing an underground mine into our future mine plans once final drilling, permitting, portal hole access and economic studies have been finalised,” he concluded.