Grade increase over grade control orientation panel at Komana East pit at Yanfolila Gold Project, Mali
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Hummingbird Resources plc (AIM:HUM), the West African gold exploration and development company, has announced a positive update from grade control orientation drilling at the Komana East pit, the first area to be targeted for mining at the Company’s 1.8 million ounce Yanfolila Gold Project in Mali.
Yanfolila is being developed as a high-grade, low cost gold mine with first production targeted for 2016.
Highlights
· 68% higher grade of 5.24 g/t compared to the entire Komana East pit that averages 3.12 g/t
· 15% increase in the like for like grade over the grade control orientation panel to 5.24 g/t Au
· Confirms high grade zone of 12,200 tonnes at 7.7g/t Au
· Confirms consistent mineralised host rock unit and mineralisation control throughout the southern mineable area of the Komana East pit
· Komana East contains 332,500 recovered ozs in current mine plan before the impact of positive grade control interpretation
Dan Betts, CEO of Hummingbird Resources, said: “The analysis of the infill drilling taken from a section of the first year mining pit at Komana East has shown a consistent increase in grade. This is excellent news, and if continuous throughout the pit could provide significant economic upside to the already robust project credentials of Yanfolila. We intend to execute a close spaced grade control drill programme across the deposit to confirm these higher grades, prior to the commencement of mining.
“On a wider level, plant earthworks are ongoing at Yanfolila and we look forward to updating the market further as we develop Yanfolila as a leading high grade, low cost gold mining project in West Africa.”
Komana East Grade Control Orientation Drilling Interpretation
Grade Control orientation drilling was completed over a 40m long panel at 5x5m intervals within the Phase 1 and first year mining volume. 35 holes for 1,004.13m of drilling were completed covering 30 vertical metres (3 benches). This GC orientation drilling has given mining-level confidence (equivalent to a Proven reserve) to the existing mineral resources delineated.
The GC orientation drill results indicate the continuous nature of the higher grade zones within the mineral resource model and it has led to a 15% increase in the grade and an extra 16% additional gold ounces within the GC drilling study area. Further drilling will be required to confirm this potential resource increase and for the time being cannot be relied upon for economic purposes.