Consistent Gold Grades from Drilling at Akoko
Summary by AI BETAClose X
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19 May 2026
Hamak Strategy Limited
("Hamak" or the "Company")
Consistent Gold Grades from Drilling at Akoko Project in Ghana
Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF), a Company combining traditional gold exploration in West Africa with a Digital Asset Treasury Management strategy, announces that it has received further encouraging assay results from the ongoing 4,125m reverse circulation ("RC") drill programme at the Akoko oxide gold project in southwest Ghana.
Highlights
· Results from a further 11 RC drill holes at Akoko gold project in southwest Ghana
· New results include 1.87g/t Au over 13.0m, including 3.64 g/t Au over 4.0m
· Results support geological model of wide, near surface gold mineralised horizons
· Drilling programme continuing with further results to be announced when received
CEO and Executive Director Karl Smithson commented:
"I am delighted to report on further very encouraging gold assays from our on-going RC drill programme at the Akoko project in southwestern Ghana. The results continue to validate our geological model, as interpreted from historical drill programmes, with wide, near surface oxide gold mineralization being intersected. The consistency of intersections will assist in the confidence of the independent and industry standard mineral resource estimate and preliminary economic assessment that we plan to commission towards the end of the current drilling programme. I look forward to providing further updates from our drilling at Akoko in due course".
RC Drilling
Following the Company's recent announcement on the drilling programme at Akoko, a total of 23 holes for 1,487 metres have been drilled to date focussed on the previously defined gold mineralized area of the Akoko north area. The objective of the drilling programme includes testing potential extensions to the known mineralised zone, verifying drilling results of historical programmes, obtaining sample material for metallurgical test work and condemnation drilling to assist in planning with the location of future mine infrastructure.
Samples continue to be collected every metre down hole and submitted for Au50 Fire Assay, to accredited SGS Laboratory Services Ghana Limited in nearby Tarkwa.
Drill Assay Results
Assay results have now been received for a further eleven holes, which include several holes for both mineralization confirmation and condemnation holes outside of the known mineralized areas (Table 1).
In the recent batch of results hole 2026-036, returned significant assays of 1.87g/t Au over 13m from 10m, including 3.63g/t Au over 4m from 13m, followed by another wide intersection of 0.78g/t Au over 19m from 37m. This hole was drilled to twin a historical hole which returned 1.42g/t Au over 56m from 8m. Soft ground conditions gave rise to poor drilling conditions and lower drilling recoveries in hole 2026-036 with no sample returned across part of the anticipated higher-grade mineralized zone. However, the estimated intersection of 1.06g/t Au over 45m generally confirms the previous results.
The consistency between the current programme and the historical data may support the inclusion of the historic drilling data into the planned independent Mineral Resource Estimate, which will be prepared and announced following the completion of the current 4,125m RC drill campaign.
Table 1: Drill Hole and Assay Information
Schematic Drill Sections
The following two sections demonstrate the consistency of assay results from the current drilling programme, with the gold mineralized zones and block model as generated by the historical drilling.
Analytical and QA/QC
See the Company's announcement of 11 May 2026 for the full analytical AQ/QC process.
Qualified Person
The technical information in this announcement that relates to exploration results is based on information reviewed by Hamak Strategy's retained consultant Dr Colin Andrew, who is an independent Consulting Economic Geologist, and graduate of Imperial College London and the Royal School of Mines and is a Member of the Institute of Materials, Minerals and Mining, a Fellow of the Geological Society of London, a Member of the Society of Economic Geologists, and a registered Chartered Engineer with the Engineering Council. Colin Andrew has over forty years of diverse mining industry experience, relevant to the nature of exploration, the style of mineralization and type of deposit under consideration and to the activity that he is reviewing, to qualify as a an "Independent Qualified Person" as such term is defined in NI 43-101.
For the purposes of UK MAR, the person responsible for arranging release of this announcement on behalf of Hamak is Karl Smithson, CEO and Executive Director.
For further information on Hamak you are invited to view the company's website at https://hamakstrategy.com/ or please contact:
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Hamak Strategy Limited Karl Smithson, CEO and Executive Director Mike Murphy, CSO and Executive Director
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AlbR Capital Limited (Corporate Broker) |
+44 (0) 20 7469 0930 |
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Yellow Jersey PR Annabelle Wills |
+44 (0) 20 3004 9512
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About Hamak Strategy Limited
Hamak Strategy Limited (LSE: HAMA / OTCQB: HASTF) is a UK listed company focussed on gold exploration in Africa and with a strategy of pursuing an appropriate and compliant BTC / crypto treasury management policy.
Important Notice
The Company maintains some of its treasury reserves and surplus cash in Bitcoin, a form of cryptocurrency. The Company is not authorised or regulated by The Financial Conduct Authority (FCA) and Bitcoin investments are generally not subject to regulation by the FCA or otherwise in the United Kingdom. Neither the Company nor investors in the Company's shares are protected by the UK's Financial Ombudsman Service or the Financial Services Compensation Scheme.
However, the FCA considers Bitcoin investments to be high-risk. The value of Bitcoin can go up as well as down, leading to fluctuations in the value of the Company's Bitcoin holdings, and the Company may not be able to realise its Bitcoin holdings for the same amount it paid to acquire them, or even for the value the Company currently attributes to its Bitcoin positions.
The Company's Board of Directors have identified the following risks in relation to the holding of Bitcoin, which are not exhaustive:
• The value of Bitcoin can be highly volatile, with its value falling as quickly as it rises. Investors in Bitcoin must be prepared to lose all money invested.
• The Bitcoin market is largely unregulated. There is a risk of losing money due to factors such as cyber-attacks, financial crime, and counterparty failure.
• The Company may not be able to sell its Bitcoin at will. The ability to sell Bitcoin depends on various factors, including the supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks, and comingling of funds could cause unwanted delays.
• Cryptoassets carry a perception of fraud, money laundering, and financial crime.
An investment in the Company is not an investment in Bitcoin itself, but prospective investors in the Company are encouraged to conduct their own research before investing and should be aware that they will have indirect exposure to the high-risk nature of cryptoassets, including their volatility, and could therefore sustain large or total losses of their investment.
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