News Bureau

 
 
June 27, 2020

Hummingbird inks SPA for Kouroussa Gold

Further to the Company’s announcement, Hummingbird Resources announces the signing of a conditional binding Sale and Purchase Agreement (SPA) confirming and setting out the key terms for the acquisition of the Kouroussa Gold Project located in Guinea, from Cassidy Gold Corp, following the completion of confirmatory due diligence by the Company on the Project. 

The Company has also completed a more in-depth review of the Project’s geological database which highlights promising drill intersections both within and outside the current stated mineral resource used in the mine plan. These drill intersections also demonstrate the high-grade nature of the targets proximal to the project and within the permit area.

Dan Betts, CEO of Hummingbird, commented: “I am delighted we have been able to confirm the purchase of the Kouroussa Gold Project and look forward to working with the Government of Guinea as we progress the development of the project as quickly as possible whilst continuing to explore the remarkable geological potential at the project.

“This marks a pivotable point in Hummingbird’s story and is a significant next step in achieving our long term ambition to create a sustainable multi-asset gold producer. I would like to take this opportunity to thank all stakeholders who have contributed to getting us this far and continue to support us at this exciting time for the Company.”

Murray Paterson, VP Geology of Hummingbird, commented: “Having the opportunity to work on a new gold system at Kouroussa is extremely exciting. There is undoubtedly further potential to be discovered but what is most exciting is the abundance of high grades as evidenced by a large number of gram meter intercepts > 50-gram meters but also the many occurrences of visual gold. 

The old adage “Grade is King” is particularly relevant to Kouroussa and our technical team is looking forward to the challenge of unlocking the system’s full economic potential. We look forward to sharing the story as it unfolds.”

 

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