Ian Stalker, CEO, commented; “We are delighted with these intersections which reaffirm the quality of this deposit, and support our view that there is room to grow it – it already has a 2 Moz Indicated Mineral Resource Estimate .
At Tuzon the layer has been repeatedly folded and is interpreted to be a large synform which plunges to the southwest at approximately 20 degrees.
Previous hole TDC084 located 80 m north of the 3.4 g/t TDC174 intersection, included 29 m with an average grade of 2.80 g/t Au at a similar position on the fold limb.
Sampling and analysis of the Tuzon core is ongoing; the results reported herein are the first 4 holes for which sampling and analyses have been completed.
TDC179 is a lateral a step-out hole to test the southward development of zone B – the intersections show that zone B is well developed in this direction supporting the model.
The Company has entered into an agreement with one of its drilling contractors to satisfy US$142,335.38 of historical drilling costs by the issuance of 1,562,195 common shares at a price of C$.011 per share.
Similar QAQC measures were undertaken for the previous drillholes reported herein; those samples were analyzed by ALS in Loughrea, Ireland which is an ISO 17025:2005 compliant facility for the analytical methods used for the samples.
He is a member in good standing with the South African Council for Natural Scientific Professions and is as a Qualified Person under National Instrument 43-101.
In 2019, Hummingbird signed a 25-year Mineral Development Agreement , the fuel duty is reduced by 50%, and the Government of Liberia is granted a free carried interest of 10% in the Project.
Such risks and other factors may include, but are not limited to, the ability to successfully file and obtain approval for the Qualifying Prospectus, the ability to obtain all requisite regulatory approvals in respect of the Qualifying Prospectus, the results of exploration activities; the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR.