RE: Hamak Gold mcap just £506k17 Apr 2025 07:37
Thanks affc
Some thoughts ….
KS has £150k invested here so he needs it to work
Board haven’t been taking salaries
Previous drill campaign- First drill hole hit the jackpot 20m @ 7g/t near surface
Much work has been undertaken since, Detailed geological and structural mapping, with complementary rock chip sampling, trenching and channel sampling, completed over a 17 square kilometre area defined by the strong gold in soil anomaly associated with the Ziatoyah gold discovery
· Several priority drill targets are recommended from the recent exploration programme results with the objective of defining extensions of the high-grade Ziatoyah gold discovery
An independent technical report was completed on all geological and drilling data at Nimba with recommendations for next phases of work to further define the high-grade gold discovery at the Ziatoyah prospect
to understand the geology and prospective strike area of the mineralisation , 5.7km x 1km
Karl Smithson, Executive Director of Hamak Gold, commented:
"Our exploration work continues to focus on the highly prospective Nimba licence and in particular the significant gold discovery we have made at the Ziatoyah prospect. We have elected to follow a systematic exploration programme of detailed mapping and sampling to help guide the selection of priority drill targets to further define and delineate extensions to the high-grade surface and drill intersections we have made at Ziatoyah. “
An area of 17 km² has now been mapped and some 260 outcrops described with structural measurements having been recorded from 141 of these. In addition, further rock chip samples (showing mineralisation - mostly pyrite) were collected, which complement the three positive rock samples collected previously, which returned best grades of 6g/t Au, 38g/t Au and 45g/t Au.
It appears that there is a broad, widespread distribution of mineralised outcrops exposed within the prospect area.
Post period end, a number of trenches were excavated to reveal the exposure of more structures, which have been mapped and which enhance the preliminary structural interpretation, thereby strengthening the confidence level in planning the next phase of drill targets to intersect the significant gold mineralization identified at Ziatoyah
As per RNS looking at creating shareholder value, possible asset sale or partner to fund next drilling campaign
Subject to the above drilling campaign to be more extensive , with the intention of proving up a maiden resource
Neighbours 5m oz gold - The Cestos shear zone, associated with the 5moz Ity Gold mine, is located along the southeast boundary of the Nimba licence and is defined by a major NE trending dislocation zone
In country rig availability is good ,permits in place so good to go
Company not looking to produce, drill and confirm resource and sell to one of the big boys
Accounts due by 30th - may come sooner, I’m thinking everything
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