4th Mar 2019 15:10
LONDON (Alliance News) - Hummingbird Resources Ltd said Monday that its recent drilling from its exploration campaign at the Yanfolila gold mine in Mali demonstrated more high-grade potential.
The drilling was focused, Hummingbird said, on the resource definition at Gonka, with some further follow up drilling at Komana West.
The drilling at Gonka included 18 metres at 9.39 grams per tonne gold from 156 metres depth and 4.3 metres at 29.74 grams per tonne gold from 250 metres depth.
"Following the conclusion of the drilling programme at Gonka, we have moved to the resource modelling phase as we look to publish a new and updated mineral resource for Gonka and the open pitable reserves. After this is completed the company plans to release a new life of mine plan at Yanfolila," said Chief Executive Murray Paterson.
Paterson continued: "Our exploration team is reviewing the Gonka drilling data and is planning ahead for the coming 2019 drilling programme, which will target the down dip extensions to Gonka to expand the resource and reserves. A thorough review of the database to identify new greenfield targets is also underway and this is expected to yield high priority targets to drill test outside the current seven deposits that have resources associated with them."
Shares in Hummingbird Resources were up 1.0% Monday at 24.18 pence each.
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