Hummingbird Resources plc said that the final results from its 48,000m drill programme showed a potential extension to the life of Yanfolila gold mine in Mali.
CONFIDENCE
The company analysed a further 12,000m of assays from the Sanioumale East (SE) deposit and 3,179m of assays from the initial drilling at greenfield deposit BBC.
Results from 17,700m drilling completed at the SE deposit during 2021, continued to show “significant grade and extending at depth”.
“These and historical drilling results highlight the upside potential to SE’s current resources and reserves profile of 204,000 oz and 100,300 oz respectively,” added the company.
The figures also provide “an increasing level of confidence” in the overall geology of SE as a “key future deposit” to be mined at Yanfolila during Q1 2023.
Hummingbird added that greenfield target BBC, undergoing its first round of drill testing, had shown the “potential to establish new resources”.
Chief executive Dan Betts said that the company expected further assays during Q1 from the 2021 Kouroussa drilling campaign for 24,000m.
“Overall the drill programme has demonstrated the significant upside to extend the life of mine at Yanfolila on existing known deposits, coupled with upside from our greenfield deposits still only in their infancy.
“The results from the SE drilling are particularly encouraging, shoring up our confidence that SE will be a key future mineable deposit at Yanfolila for the years ahead.
“This all is a positive step as we move towards our strategic goal of achieving a +10-year reserve mine life at Yanfolila.”