Hamak Strategy (LSE: HAMA) (OTCQB: HASTF) reported additional reverse circulation drilling results from its Akoko oxide gold project in southwest Ghana, including an intercept grading 3.42 grams per tonne (g/t) gold over 23 meters from a depth of 15 meters1. The company said the results came from four shallow drill holes totaling 141 meters completed at the Akoko North prospect.
The latest results form part of an ongoing drilling campaign aimed at evaluating near-surface gold mineralization at the project. According to the company, 39 reverse-circulation drill holes totaling 2,280 meters have now been completed at Akoko North, with drilling activities set to move to Akoko South.
The reported intercept in drill hole 2026-043 included higher-grade intervals of 24.01 g/t gold over one meter and 6.30 g/t gold over two meters within the broader mineralized section. The company said the hole also extended mineralization eastward beyond the area previously identified through drilling.
#Akoko North Program Completed
Hamak stated that drilling at Akoko North has now concluded. The completed program included both resource confirmation and condemnation drilling designed to evaluate the extent and continuity of mineralization across the prospect.
The company said the drill rig is being mobilized to the Akoko South license area, where 36 reverse circulation holes totaling approximately 1,940 meters are planned. Hamak noted that execution of the program could be affected by seasonal rainfall and site accessibility conditions.
Chief Executive Officer Karl Smithson commented:
High-grade intersections continue to be made near surface in the Akoko North area, with hole 2026-043 returning very encouraging results of 3.42g/t Au over 23m from 15m. In this wide section higher grade intervals of 24.01g/t Au over 1m and 6.30g/t Au over 2m were intersected. Notably, this hole has also proven that gold mineralization continues eastward beyond the previously known mineralised area.
“Drilling of the Akoko North prospect is now complete and the rig is being mobilised to Akoko South. We will continue to provide updates as and when further results become available.
#Drill Results Add to Ghana Exploration Effort
Ghana remains one of Africa's largest gold-producing countries and continues to attract exploration investment from both major mining companies and junior explorers. Early-stage drilling programs such as those at Akoko are typically used to define the geometry, continuity, and grade distribution of mineralized zones before resource estimates or development studies can be considered.
The latest assay results represent only a portion of the drilling completed to date. Additional analytical results may be released as laboratory work continues on remaining samples from the broader campaign. Hamak indicated that updates would be provided as further results become available.
While higher-grade intervals can provide insight into the distribution of mineralization, exploration results alone do not establish the economic viability of a mineral deposit. Further drilling, geological interpretation, resource estimation, permitting considerations, and technical studies are generally required before a project can advance toward development.
#Next Phase Focuses on Akoko South
With drilling completed at Akoko North, attention is likely to shift toward the upcoming Akoko South program and whether results there demonstrate similar mineralization characteristics.
The company has outlined 36 planned holes at the southern prospect, though final completion of the program will depend on operating conditions during the current rainy season. Results from that work may help determine the scale and continuity of mineralization across the broader project area.
The technical information disclosed in the announcement was reviewed by independent consulting economic geologist Dr. Colin Andrew, whom the company identified as an Independent Qualified Person under NI 43-101 standards.
Hamak Strategy is a UK-listed company focused on gold exploration in Africa. The company also maintains a treasury strategy that includes holdings of Bitcoin, according to its corporate disclosures. The announcement primarily concerned exploration activities at the Akoko gold project and did not provide updated mineral resource estimates or economic assessments for the property.