Mt Ginka

The licence covers 155km2 and was awarded to Hummingbird in April 2010. In 2011 Hummingbird entered into a joint venture with Petmin Ltd whereby Hummingbird transferred the licence to a new subsidiary, Iron Bird Resources Inc. (“Iron Bird”), in which Petmin has now invested a total of $2m for a 50% interest. Petmin’s investment is being utilised to cover early stage exploration work.

The licence is situated in Nimba County only 20km from the producing Mt Nimba mine owned by ArcelorMittal and is also only 20km from the newly renovated government owned railway line originally built to carry iron ore to Buchanan Port. Iron Bird recently completed a helicopter-borne aeromagnetic survey of the majority of the Mt Ginka ridge. It was undertaken by New Resolution Geophysics of South Africa. Flights lines were 50m apart and flight height 30 to 40m. Total line kilometres flown were 1,650km. A detailed interpretation was undertaken by consulting geophysicists EXIGE-SA of South Africa. Early indications are that the survey shows significant, strike-continuous zones showing strong magnetic response.

The magnetic bodies (assumed to be itabirite) occur on the boundary between two distinct geological entities and form a continuous ridge. The interpretation suggests the ridge is the result of a thrust environment with a layer of thorium rich material thrust over the top of a more potassic material. The silica-chert content of an itabirite lends itself to less weathering than the surrounding schist thus producing the ridge feature. The unit is estimated to extend for 20km with a surface width of 150-250m extending approximately 1,000m down dip.