Hummingbird starts exploration drilling campaign at Yanfolila
Aim-listed Hummingbird Resources has begun an exploration drilling campaign on its mining permit for its Yanfolila gold mine, in Mali, while simultaneously starting mining at Komana West.
The campaign is targeting the conversion of resources to reserves, while extending the mine life of Yanfolila to over a decade.
This could result in higher yearly production levels and, therefore, improve projected yearly free cash flow, Hummingbird said on Monday.
During the campaign, four rigs will be set up onsite and will be drilling more than 50 000 m over six existing deposits on the mining permit, all in close proximity to the Yanfolila processing plant.
Hummingbird also confirmed on Monday that initial ground works had been completed at Yanfolila’s Komana West and that mining there was under way.
Production is on par with the gold miner’s forecast, with production figures for the second quarter scheduled for publication later this month.
Meanwhile, the Komana East underground study, carried out by DRA Projects, shows potential for an economic underground mine with 113 000 oz of producible gold in addition to the existing mine plan.
“I am extremely pleased that, after thorough preparation, drill rigs are mobilised and the campaign is under way. The drilling is aiming primarily for the conversion of existing resources to reserves targeting an expected extension to Yanfolila's mine life,” commented Hummingbird geology VP Murray Paterson.
"The company has also significantly benefited from the arrival of Dr Colin Porter, a structural geologist with extensive experience in gold exploration in West Africa, as exploration manager on-site,” he added.
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