Hummingbird Resources Provides Update on Kouroussa Guinea

Hummingbird Resources plc provided an update on the company’s mine development progress and results of additional assays from the 2021 resource and reserve infill drilling program at the Kouroussa gold mine in Guinea.

Kouroussa Update

The development and construction of Kouroussa continues to progress rapidly and remains on track to achieve the first gold pour expected by the end of 2Q23. The build update is as follows:

  • Civil engineering and construction works:
    • Civil works have commenced and earthworks are nearing completion at the processing plant with areas for mining camp to then allow cement foundation work to begin.
    • Foundation concreting and steel reinforcement work is underway for the installation of the CIL tanks.
    • The mining camp for construction personnel is now operational, allowing the company to have more construction personnel on site rather than housed in local areas, with over 350 construction, administrative and maintenance personnel. security in place for the entire construction process.
  • Processing plant:
    • Fabrication of the CIL tanks has begun on site and is progressing rapidly towards completion.
    • Structural, mechanical and piping work will commence following completion of foundation work in the process plant area.
  • Long-term elements, contracts and community involvement:
    • Other long lead time items were procured including apron feeders, jaw crusher, SAG mill, cyclone group and agitators.
    • Construction equipment, tooling, machinery, personnel and consumables continue to arrive on site and are in position for the next phase of the overall construction process.
    • The power plant and mining contractor contracts are in the final stages of negotiation and are expected to be awarded soon.
    • Detailed community engagement is underway with our on-site Health, Safety, Environment and Community (HSEC) teams.

Highlights of the Kouroussa drilling:

Hummingbird has received assay results on an additional 86 reverse circulation (RC) holes and 12 diamond holes at the high-grade Koekoe (KK) deposit, providing approximately 9,900m of the approximately 24,000m infill drilling program of the Company in 2021. The objective of this infill drilling program has been to convert current in-pit inferred material to indicated material and build on the already extensive historical drilling to extend the mine life of Kouroussa and the global reserve base.

The Company is awaiting final assays of approximately 3600m, which are expected to be received shortly and will conclude Kouroussa 2021 drill results to be received.

  • Notable drill results from the KK deposit include:
    • KRC1953: 3 m at 18.63 g/t from 27 m.
    • KRC2003: 7 m at 2.98 g/t from 36 m.
    • KRC2036: 11 m at 5.62 g/t from 64 m.
    • KRC2041: 3m at 34.84 g/t from 51m.
    • KRC2042: 1 m at 47.60 g/t from 152 m.
      • Hole KRC2042 completed with ongoing mineralization.
    • KRC2044: 9 m at 4.55 g/t from 34 m.
    • KRCD1886: 2 m at 9.65 g/t from 120 m.
    • KRCD1891: 8.6 m at 6.31 g/t from 107.6 m.
    • KRCD1896: 7m at 9.83g/t from 101m.
    • KRCD1898: 12.6m at 5.11g/t from 66.45m.

These and previous results continue to show Kouroussa’s significant gold endowment, with multiple high-grade zones remaining open.

These assays, along with additional results from the Kouroussa and Yanfolila drilling programs, will feed into the company’s updated 2022 resource and reserve statement which is expected to be released in 2Q22.

Dan Betts, CEO of Hummingbird Resources, said: “We are moving quickly through the next phase of the Kouroussa construction process with the civil works underway. We remain focused on delivering Kouroussa on time and on budget for a first gold pour by the end of 2Q23, which will then more than double our current production profile.

“Our 2021 drill program at Kouroussa continues to deliver results that highlight the significant gold endowment we have at Kouroussa. Our geology team has also identified thicker zones of mineralization and shallower dipping western zones. than originally thought, which is positive for future mining at Kouroussa.These results continue to be analyzed and incorporated into our updated corporate resource and reserve statement, which is expected to be published at the end of 2Q22.”

Anthony Köcken, COO of Hummingbird Resources, added, “Our construction team at Kouroussa is working well to move the project forward to first gold pour. We are now in the construction phase of the civil works, which involves a new level of technical expertise that our teams now bring to the whole process. The awarding of energy and mining contractor contracts is about to be finalized, which will also be a key milestone for Kouroussa, allowing the start of the main infrastructure and mining processes.

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