Latest in–fill drilling results from its Tuzon deposit in Liberia are a significant step towards upgrading the resource, gold explorer Hummingbird Resources (LON:HUM) said today.
Tuzon is one of the deposits on Hummingbird’s Dugbe 1 project. The purpose of the drill programme was to convert the remaining inferred resources into the indicated category.
Dan Betts, chief executive, said: "We are delighted with the excellent progress with the Tuzon infill drilling programme.
“These latest numbers correspond accurately to the SRK Interim Resource model, and mark a significant step to upgrading the remainder of the resource from Inferred to Indicated and providing a key item into the DFS [definitive feasibility study].
“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."
Results from the latest drilling included 76 metres (m) at 1.40 grams per tonne (g/t) gold, 50m at 1.61g/t gold, 59m at 2.36g/t gold and 28m at 1.97g/t gold.
The most recent estimates for the Tuzon deposit constrained within a US$1,500 pit shell and using a 0.5 g/t cut off grade comprised of 37.6 Mt at an average grade of 1.27 g/t for 1.54 Moz of gold.
A DFS and engineering study for Dugbe 1 is due to be published in the third quarter this year.