https://www.engineeringnews.co.za

Hummingbird announces 1.12-million ounces of company reserves

25th November 2021

By: Tasneem Bulbulia

Deputy Editor Online

     

Font size: - +

Aim-listed Hummingbird Resources’ updated Joint Ore Reserves Committee- (Jorc-) compliant reserves as at June 30 totalled 1.12-million ounces of gold at 3.03 g/t, a 438 600 oz increase from its reserves statement in October 2019.

This update includes a maiden reserve for the Kouroussa mine in Guinea.

The updated reserves include 705 800 oz at 2.57 g/t at the Yanfolila mine, in Mali. The mine’s reserves have increased by 29 700 oz.

The Yanfolila mine reserves include both openpit reserves on six deposits totalling 503 600 oz at 2.30 g/t (including stockpiles) and a maiden underground reserve at Komana East of 202 200 oz at 3.64 g/t.

The Kouroussa mine, in Guinea, has maiden reserves of 408 900 oz at 4.38 g/t.

These reported reserves for Yanfolila and Kouroussa have upside potential as they do not include this year’s drilling campaign of about 68 000 m.

The results of this year's drilling campaign will be included in the 2022 updated company resource and reserve statements, scheduled to be released in the second quarter of 2022.

The company's Dugbe mine, in Liberia, has also not been included in this year's company reserves statement.

Hummingbird will provide a more detailed update on the Dugbe reserves once its earn-in partner Pasofino completes a definitive feasibility study in the second quarter of 2022.

“Our exploration strategy in 2020 has delivered Jorc-compliant reserves, extending Yanfolila's life-of-mine (LoM) and delivering a maiden reserve at Kouroussa – our low-cost, high-margin operation, which will more than double Hummingbird's future gold production [and which is] scheduled for first gold pour at the end of the second quarter of 2023.

“This year's exploration campaigns were three times larger in terms of metres drilled than those in 2020, with the focus to further increase our company reserve and resource base in order to achieve the company's ambition of having LoMs in excess of ten years from our assets,” CEO Dan Betts says.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.052 0.87s - 140pq - 2rq
Subscribe Now