Kouroussa Gold Mine SA (KGM) owns and operates the Kouroussa Mine.
Hummingbird Resources plc (Hummingbird) owns 85% of KGM, while the Government of Guinea holds a 15% stake. The Government of Guinea is expected to hold up to a 35% interest under the relevant mining code (15% free carry and 20% right to purchase).
On April 17, 2025, Nioko Resources Corp. (Nioko) completed its takeover of Hummingbird Resources. As a result, Nioko has interests in Hummingbird Shares or has received Valid Acceptances in respect of 1,692,835,019 Hummingbird Shares in aggregate representing approximately 99.39 per cent. of Hummingbird's existing share capital. Hummingbird Resources plc has been delisted from AIM.
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Summary:
The Republic of Guinea is located in the southern part of the West African craton. Guinea has a rich and varied mining potential with reserves estimated of several billion tonnes of bauxite and iron ore, plus gold, diamonds, and base metals. The gold ore occurs as secondary (alluvium beds and terraces of rivers) or primary (veins, quartz veins) deposits. The major gold deposits are located in the Birimian Domain in Upper Guinea, and current annual production is about 8 to 10 tons of gold, divided between small-scale miners and industrial companies.
The four main known gold metallogenic areas of Guinea include (i) the Siguiri Basin of Upper Guinea (Kankan, Siguiri, Kouroussa, Mandiana) and Dinguiraye; there are lateritic and/or saprolitic deposits or indications of gold-bearing quartz veins and stockworks; (ii) the Siguiri Basin of savanna Guinea (Kankan, Siguiri, Kouroussa, Mandiana); (iii) the Kouroufing (Mamou and Kerouané) and Beyla areas located in the southeast also have auriferous quartz veins; and (iv) primary deposits of N’Zérékoré sheet NZE-Q2 (Au), coordinates 8° 12’ to 8° 08’ W longitude and 7° 40’ N latitude (Kogota-Guipo), hosted in amphibolite gneisses; Au and Ag of 1.25 to 2.1 g/t and 3.45 to 41.3 g/t, respectively.
The primary deposit NZE-zone Q3 (Au) has coordinates 8° 26’59’’ longitude W and 7° 37’30’’ latitude N; the orebody is characterized by tuffites with hematite. These lithologies are located in Lower Proterozoic and Archean domains. In these areas, there are faults observed and/or interpreted, as well as kimberlite veins and pipes. The genesis of these gold deposits remains poorly understood compared to others in the West African region.
Future research work on these deposits should be oriented on the model, type, and genesis (tectonic setting, host environment, texture and mineralogy of ore, age of host rocks and ore, source and composition of ore-forming fluids, hydrothermal alteration and zoning, structural setting, etc.) to assist their interpretation.