Aim-listed Hummingbird Resources has welcomed subsidiary company Pasofino Gold's announcement of the start of exploration activities at Bukon Jedeh – a high-priority target area within the Dugbe gold project, in Liberia.
Hummingbird recently exchanged its shareholding in the Dugbe project for a controlling stake in Pasofino.
Bukon Jedeh is situated 8 km from the Dugbe project's Tuzon deposit. Pasofino on February 26 told shareholders that its exploration efforts at Bukon Jedeh would concentrate on geological mapping and the collection of high-resolution ground magnetic survey data.
Additionally, Pasofino plans to conduct about 1 400 m of drilling across about 15 drill holes, slated to begin in March. This drilling campaign will test a selection of artisanal pits, replicate some of the previous reverse circulation drill hole results and investigate a fold hinge geological structure to enhance the understanding of this target area.
"The initiation of exploration at Bukon Jedeh, a high-priority target area, underscores the opportunity to build additional resources beyond the 3.9-million-ounce resource already identified [at Dugbe] and, in turn, grow the existing 2.8-million-ounce reserve.
"It reaffirms Pasofino's focus on unlocking the full potential of the exceptional Dugbe gold project and ultimately bringing this asset into full production, further consolidating our presence as a growing precious metal miner in the broader region," Hummingbird CEO Dan Betts states.