Hummingbird Resources has initiated an extensive exploration drill campaign on its Yanfolila mining permit in Mali, targeting conversion of resources to reserves and extension of mine life at the Yanfolila mine. Four rigs were on-site as of early July and will be drilling more than 50,000 meters (m) across six known deposits, all in close proximity to the Yanfolila processing plant.
Hummingbird’s exploration drill strategy is focused on infilling currently defined resources at the six deposits in the 2.2-million-ounce (oz) resource base. By targeting these resources, Hummingbird anticipates that the current mine life will ultimately be extended beyond 10 years, and, at certain stages in the life-of-mine plan, grade delivered to the process plant will be improved. This could result in higher annual production levels and improve projected annual free cash flow.
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