19th Sep 2018 14:22
LONDON (Alliance News) - Hummingbird Resources Ltd said Wednesday it was "delighted" with the initial results of its 2018 exploration programme and has approved the construction of a second ball mill at its Yanfolila gold mine in southern Mali.
The mineral miner said its expects the reserves at the Yanfolila mine to grow over its mine life, and the second mill will allow the plant to increase its throughout capacity.
The second mill will increase the plant throughput to 1.4 million tonnes per annum from 1.2 million tonnes per annum. It is expected to be operational in the third quarter of 2019, and is expected to cost about USD13 million.
The best intersections from the Komana West deposit during drilling included: 11.45 metres at 8.69 grammes per tonne from 69 metres depth and 8.1 metres at 5.52 grammes per tonne from 84.9 metres depth.
Drilling at the Guirin West deposit achieved intersections of 16 metres at 3.11 grammes per tonne from 38 metres depth and 4 metres at 8.12 grammes per tonne from 13 metres depth.
Chief Executive Officer Dan Betts said: "Approving the second ball mill, in place of the tertiary crusher, at the same time as releasing our initial results from the 2018 exploration programme shows the confidence we have in increasing our reserves at Yanfolila. The second mill will give us greater flexibility and 24% more throughput when operating on 100% fresh ore. I am delighted with the initial drill results and look forward to receiving more over the coming months.
"I am very pleased to continue our working relationship with SENET who have been appointed the EPCM contractor for the second ball mill and look forward to carrying out another successful construction project with them."
Shares in Hummingbird Resources were down 0.7% Wednesday at 27.00 pence each.
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