JOHANNESBURG (miningweekly.com) – Aim-listed Hummingbird Resources has announced gross maiden probable reserves of 6.82-million tons @ 3.03 g/t for 665 600 oz of gold at its Yanfolila project, in Mali – an increase of 118 600 oz of gold from the in-pit mineral resource inventory reported in the March optimisation study mine plan.

The project’s mineral resource had also been increased to 1.8-million ounces of gold at 2.54 g/t.

The reserve report was based on the resources at the Komana East and West pits, as these would be mined first, while other nearby deposits, including Guiren West, Gonka, Sanioumale East and Sanioumale West, would be mined at a later stage.
 
Expanding on the updated reserve, Hummingbird converted 100% of in-pit indicated resources into reserves, while plant throughput capacity increased 24% to 1.24-million tons a year.

Project economics were currently being updated and would be released in January, while the project construction timeline remained unchanged at between 12 and 15 months from main debt draw.

“Achieving a maiden ore reserve at Yanfolila is a significant milestone for the company. With an increased gold grade of 3.03 g/t, it confirms Yanfolila as a quality, high-grade, low-cost project.
 
“We have increased the size of our processing plant to process, as well as processing harder, fresh ore types. The ability to process greater volumes of fresh ore has allowed us to expand and deepen the open pits of our maiden ore Reserve, resulting in more recoverable gold,” commented Hummingbird Resources CEO Dan Betts.

He added that this, together with a more flexible operating plan, gave the company scope to further expand its ore reserves from its existing deposits. 

“The 24% increase in throughput will also significantly enhance yearly gold production and, with so many indicated ounces outside the mine plan at nearby deposits and high-grade underground potential at Gonka, the company believes there remains significant production upside at Yanfolila,” he concluded.