Hamak Gold reports progress in Liberian gold project

LONDON - Hamak Gold Limited (LSE:HAMA) has announced its audited results for the period ending December 31, 2024, highlighting continued exploration at its Nimba Licence in Liberia, particularly the Ziatoyah gold discovery. The company’s detailed geological mapping, sampling, and drilling have reinforced the scale and potential of the mineralized system, which aligns with a significant gold-in-soil anomaly.

The exploration activities included trenching and channel sampling, which supported high-grade rock chip samples previously reported. The structural controls of the mineralization were further understood through drilling that intersected 20 meters at 7 grams per tonne (g/t) of gold, including a high-grade section of 5 meters at 22 g/t Au.

Hamak Gold also raised £200,000 through an equity placing in April 2024 to fund ongoing operations and exploration efforts. Post the reporting period, in January 2025, the company’s subsidiary received a new three-year mineral exploration licence for the Nimba area. Additionally, an exclusivity payment of A$100,000 in relation to a potential joint venture with an ASX-listed company was received, which funded the new licence fee.

The company awaits the completion of the final condition for the joint venture, which is the receipt of the executed mining licence documents from the Liberian Ministry of Mines. Hamak Gold continues to explore new project opportunities that could add value for its shareholders.

Executive Director Karl Smithson expressed optimism regarding the advancement of the Ziatoyah gold discovery and the potential joint venture, which will be detailed upon the fulfillment of all conditions.

The full Annual Report and Financial Statements for the period ended December 31, 2024, will be available on the company’s website. This news is based on a press release statement from Hamak Gold Limited.

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