Hummingbird Resources has announced a ramp up update from the Yanfolila gold mine in Mali, which commenced gold production in December 2017, in advance of an analyst site visit.
Completion of plant construction and ore commissioning in 2017, was achieved within both the planned 18-month schedule and the US$88.5 million budgeted capital cost.
Since first gold was poured on 19 December 2017, the performance of the plant has steadily improved month by month.
In the first 14 days of March, the plant operated at an average of 95% of design throughput and has consistently achieved a recovery rate of approximately 96%, which is in excess of design specification.
Total gold recovered to 14 March 2018 was 16,804 ounces, of which 11,958 ounces has been poured and 4,846 ounces are currently within circuit inventory.
During the initial ore commissioning phase, the plant was processing ore from the lower-grade stockpiles in order to ensure plant performance and recovery were satisfactory before increasing the head grade.
Over the past two months, the amount of high grade ore fed into the mill blend has been steadily increased and the plant is now running close to name-plate capacity with recoveries remaining consistently above design; higher-grade ore continues to be increasingly introduced to the plant.
“We are delighted that the plant has performed so well and that the work carried out by our highly experienced team and contractors has so far been rewarded in ramp-up operations with 96% recoveries, over 3g/t head grade and a steady increase in plant throughput towards design," comments Hummingbird Resources CEO Dan Betts.
"This is an impressive achievement in such a short space of time," he adds.
Hummingbird Resources has two core gold projects, the Yanfolila gold mine in Mali and the Dugbe gold project in Liberia.
Yanfolila mine produced its first pour on time and budget in December 2017 and is expected to produce approximately 107,000 oz/year on average over the Life of Mine.
Yanfolila holds Probable Reserves of 709,800 oz @ 3.14g/t, total Resources of 1.8 Moz of gold and an additional 390,700 oz of non-compliant exploration potential.
The Dugbe gold project has Resources currently totalling 4.2 Moz of and a completed NI 43-101 compliant PEA on the project showing a 29% IRR and US$186 m NPV.
In addition to Hummingbird’s production and development assets, the company also has an exploration footprint of ~5,000 km2 and a 34% interest in AIM listed Cora Gold, which is advancing a portfolio of prospects in Mali and Senegal.