Tuesday, December 15th 04:10 PM IST

Hummingbird reports maiden ore reserves for Yanfolia Gold project

# Hummingbird  # AIM: HUM  # Gold  

As a result of the maiden ore reserve secured by the company, Hummingbird now has a maiden probable reserve estimate of 6.82 million tonnes of ore at a grade of 3.03 grammes of gold per tonne, yielding a total of 665,600 ounces of gold.

LONDON (Bullion Street): Hummingbird Resources PLC (AIM: HUM) on Tuesday reported a maiden ore reserve estimate for its Yanfolia gold project in Mali suggesting the asset could hold way over 2.0 million ounces of gold.

The miner said the maiden ore reserves represent a 20% increase from the in-pit mineral resource outlined in its optimisation study. Its defined reserves at the project lie in the Komana East and Komana West pits, the company's initial focus areas, with "significant" resources at other nearby deposits including Guiren West, Gonka, Sanioumale East and Sanioumale West, which will be mined at a later stage.

As a result of the maiden ore reserve secured by the company, Hummingbird now has a maiden probable reserve estimate of 6.82 million tonnes of ore at a grade of 3.03 grammes of gold per tonne, yielding a total of 665,600 ounces of gold.

That is a rise of 118,600 gold ounces from the in-pit mineral resource reported in the optimisation study back in March, and a 15% lift in grade, the company said.

"Achieving a maiden ore reserve at Yanfolila is a significant milestone for the company. With an increased gold grade of 3.03 grammes of gold per tonne, it confirms Yanfolila as a quality, high-grade, low cost project," said Chief Executive Dan Betts.

How about a fully featured Android App for your business?
  • David Yurman

    David Yurman is a phenomenon in the world…

  • Mastoloni

    Mastoloni is one of North America''s leading…

  • Boles Jewelry

    For over 52 years, Boles Jewelry has been…

  • Luca Carati

    Luca Carati was founded in Valenza, Italy,…

Most Popular

Bullion Street Newsletter