Hamak Strategy (OTCQB: HASTF) Reports 29.53 g/t Gold Hit at Akoko

By ValueTheMarkets

May 11, 2026

3 min read

Hamak Strategy (LSE: HAMA) (OTCQB: HASTF) reports first assay results from Akoko gold project in Ghana, including 29.53 g/t gold over 4m, from initial 4 of 72 planned RC drill holes.

Hamak Strategy Akoko Drilling Intercepts

Hamak Strategy (LSE: HAMA) (OTCQB: HASTF) on Monday reported assay results from the first four reverse-circulation drill holes at its Akoko oxide gold project in southwest Ghana, including an intersection of 29.53 g/t gold over 4 metres.

The results form the opening batch of a planned 72-hole, 4,125-metre reverse-circulation programme designed to support the conversion of a previously calculated near-surface gold estimate of 252,000 ounces into a JORC-compliant mineral resource estimate. Sixteen holes totalling 1,091 metres have been completed to date.

#Akoko Returns 29.53 g/t Over 4m and 3.15 g/t Over 6m in First Holes

Hole 2026-037 returned the headline intersection of 29.53 g/t gold over 4 metres from 13 metres downhole, including 57.29 g/t over 2 metres from 13 metres. The same hole returned a second intercept of 3.15 g/t over 6 metres from 64 metres, including 6.05 g/t over 3 metres from 66 metres.

Hole 2026-013 returned 0.79 g/t over 17 metres from 7 metres, including 1.08 g/t over 6 metres from 14 metres. Hole 2026-038 returned 0.85 g/t over 4 metres from 6 metres, and hole 2026-039 returned 0.46 g/t over 2 metres from 23 metres.

All four holes were drilled at an inclination of 50 degrees to the east, to depths of between 50 metres and 80 metres, targeting the upper oxide gold mineralization. Samples were processed by SGS Laboratory Services Ghana Ltd in Tarkwa using 50g fire assay with atomic absorption spectrometry finish (standard lab method for measuring how much gold is in a rock sample).

#Karl Smithson Points to Early Support for Akoko Geological Model

Drilling at Akoko has got off to an excellent start with highly encouraging gold intersections returned from the first 4 RC holes received to date. Results include 29.53g/t Au over 4m and 3.15g/t over 6m and more broadly support our geological model of wide and near surface gold mineralized oxide zone which may be amenable to open pit mining.

The 4,125m RC drill programme is progressing well, aided by the soft nature of the upper oxides being targeted and we expect to provide regular updates as the programme progresses and assay results are received.

- Karl Smithson, CEO and Executive Director, Hamak Strategy, said in a statement.

The company stated that the oxide and sulphide boundary interpretation correlates with historical drilling in the vicinity. Hamak described the Akoko geological model as a deeply weathered oxide zone to a depth of 80 metres, containing broad zones of gold mineralization near to surface.

#Hamak Combines Ghana Gold Exploration with Bitcoin Treasury

Ghana is Africa's largest gold producer and hosts a range of operating mines and development-stage projects across its southwest gold belt. The Akoko project sits within an area that includes adjacent gold deposits and historical workings, according to the company's project map.

Hamak Strategy is a UK-listed company that combines a West African gold exploration strategy with a bitcoin treasury management approach. The company holds part of its treasury reserves in bitcoin, which carries high volatility.

#Risks and Outlook for the Remaining Drill Programme

The drill results released cover only four of the 72 planned holes. The company stated that further results will be reported as assays are returned, and that the programme is intended to support a future JORC compliant resource estimate rather than constituting one at this stage.

Hamak said the 4,125-metre programme is progressing, aided by the soft nature of the upper oxide material. Execution risks include drilling continuity, assay turnaround, conversion of the historical estimate into a compliant resource, and the volatility associated with the company's bitcoin treasury holdings.

The technical disclosure was reviewed by Dr Colin Andrew, an independent consulting geologist retained by Hamak, who is named as the qualified person under NI 43-101.

Management said it expects to provide regular updates as the drill programme advances and additional assay results are received, though resource conversion timelines, assay variability across the remaining 68 holes, and broader commodity and treasury risks remain key uncertainties to that outlook.

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