3rd Feb 2014 11:02
LONDON (Alliance News) - Hummingbird Resources PLC Monday said it has received further positive results from infill drilling at the Tuzon deposit in Liberia.
The Liberia-focused gold exploration and development company said results included a 76 metre space at 1.40 grams per tonne of gold and a 59 metre space at 2.36 grams per tonne of gold.
The company said the width and grades of the findings have continued to give confidence in the robustness of the resource.
The purpose of the programme is to convert the remaining inferred resources at the Tuzon deposit into the indicated category.
Hummingbird also said it will be commencing further drilling on the Dugbe F resource imminently, which is targeting moving several starter pits into the indicated category.
The company said the Dugbe F results will form part of the definitive feasibility study for the site and may offer upside in the early years of mining due to its better grade of mineralisation and low strip ratio, drilling will be commenced immediately and is expected to be finished during the first quarter of the year.
Hummingbird Resources shares were up 9.6% to 44.95 pence, putting it in the top AIM movers Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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