15th Oct 2013 10:54
LONDON (Alliance News) - Hummingbird Resources PLC Tuesday said its ongoing tests in the Republic of Liberia have shown positive results as it moves towards the completion of its detailed feasibility study.
The Liberian gold exploration and development company said it has received the results from its 15,802 metre infill drill programme and is targeting an improvement of the categorisation of its resources at the site.
The company also said that tests including a detailed geotechnical, hydrological, environmental and social impact assessment and a full airborne magnetic survey of its Dugbe Shear Zone licences have shown numerous new gold targets and confirmed its existing test sites.
Hummingbird said that it is fully funded through to the completion of its detailed feasibility study, which is due for completion at the end of its third quarter in 2014.
The company also said it has appointed MDM as its lead consultant on the DFS with support from SRK Consulting (UK) Ltd and Coffey Mining Pty Ltd.
Hummingbird Resources shares were down 0.3% to 38.90 pence Tuesday.
By Tom McIvor; [email protected];
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