Hummingbird reveals further positive results from drilling at Liberian deposit

3 February 2014 (Last Updated February 3rd, 2014 18:30)

Mineral exploration firm Hummingbird Resources has received further positive results from infill drilling at the Tuzon deposit in Liberia.

Mineral exploration firm Hummingbird Resources has received further positive results from infill drilling at the Tuzon deposit in Liberia.

The purpose of the drill programme was to convert the remaining inferred resources into the indicated category.

Results included a 76m space at 1.40g per tonne (g/t) of gold, 50m space at 1.61g/t gold, 59m space at 2.36g/t gold and 28m at 1.97g/t gold.

SRK is currently analysing the data and updating the Tuzon resource model with the intention of moving additional inferred resources into the indicated category.

Hummingbird will start further drilling on the Dugbe F resource, which is targeting on moving several starter pits into the indicated category.

The company said the Dugbe F results will form part of the definitive feasibility study for the site and may offer upside in the early years of mining because of its higher grade of mineralisation and low strip ratio.

Drilling will start immediately and is anticipated to be completed in the first quarter of this year.

Hummingbird Resources CEO Dan Betts said the latest numbers correspond with the SRK interim resource model and mark a step toward upgrading the remainder of the resource from inferred to indicated.

"Additionally, we are confident the infill drilling programme at Dugbe F will yield further positive results, with the potential to increase the grade for the first years of mining even further," Betts said.

The most recent estimates for the Tuzon deposit constrained within a $1,500 pit shell and using a 0.5g/t cut-off grade featuring 37.6Mt at an average grade of 1.27g/t for 1.54Moz of gold.

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