Gold Exploration
Targeting Liberia’s next multi-million-ounce gold discovery
Hamak is advancing exploration in its highly prospective 831 km² Nimba licence where exploration to date has led to the discovery of a high-grade gold deposit.
Our Nimba licence is located near Endeavour’s 5Moz Ity Gold Mine in neighbouring Côte d’Ivoire and shares the same prospective greenstone belt geology.
Results to date include:
- High grade drill intersect of 20m @ 7g/t gold at shallow depths (including 5m @ 22g/t gold)
- An extensive 5km x 1km gold-in-soil anomaly, indicating a sizable gold mineralised footprint
- Multiple high-grade rock chip samples up to 45g/t gold, supported by extensive channel sampling results
We’ve partnered with First Au Limited (ASX: FAU) which will fully fund the exploration at Nimba, starting with a 2,500m diamond drilling programme during 2025, in return for a progressive earn-in to the Nimba project. FAU’s technical team is leading the work, with the near term objective of delivering a maiden resource statement at Nimba.
Hamak retains equity upside through the progressive issue of up to A$3.9 million in FAU shares linked to key milestones.
Côte d’Ivoire
5Moz Ity Gold Mine
- Liberia is fast emerging as a modern gold producer, with annual output tripling in recent years. Its geology mirrors neighbouring countries like Côte d’Ivoire, Guinea, and Ghana.
Nimba Licence (MEL 7012725)
The Nimba mineral exploration licence (MEL7012725) was granted on the 23 January 2025 for an initial three year period of tenure. Covering an area of 831 square kilometres, the licence is located some 40km south west of Endeavour Mining’s 5-million-ounce (“Moz”) Ity Gold Mine in neighbouring Cote D’Ivoire (Figure 1).
Review of Nimba licence Exploration
Following detailed soil, trench/channel and rock chip sampling, in late 2022 the Company discovered an outcropping (at surface) gold mineralized metadolerite unit (greenstone package) at a site called Ziatoyah, which was subsequently drilled and returned a best result of 20m at 7g/t Au near surface and under the mineralized outcrop.
Associated with this discovery outcrop is a gold-in-soil anomaly which extends over a 5.7km by 1km northeast trending area (Figure 2). Streams that dissect the anomaly are exploited by artisanal gold miners, suggesting that the extent of the anomaly may be related to an extensive hard rock gold deposit.
High-Grade Gold Intercept at Ziatoyah Drilling Zone
Drilling at Ziatoyah intersected a zone of strongly foliated dark grey metadolerite with weak to moderate levels of dissemination and smeared pyrite mineralisation of between 1 and 5% over the overall rock mass.
Significant gold mineralisation was returned between 28.0m and 48.0m returning 20.0m @ 7 g/t Au, with a high-grade zone returning 5.0m @ 22 g/t Au. Preliminary modelling suggests that the ore body follows the foliation and is cut and dislocated by shallow dipping N-S faults (Figure 3):
Visible Gold in Metadolerite Unit
The gold mineralization intersected at Ziatoyah suggests that the gold occurs as free grains within disseminated pyrite. Microscopic free gold has also been identified at numerous points within the mineralized sections of the drill core.
Structural Framework of the Cestos Shear Zone
The Cestos shear zone, located along the southeast boundary of the Nimba licence, is defined by a major NE trending dislocation zone (Figure 4). Historical aeromagnetic data implies a pattern of southwest to westerly trending secondary structures branching off this shear zone. Such secondary faults, or splays, may have created extensional zones for the focus of hydrothermal activity responsible for gold mineralisation.
Regional Folding as a Primary Exploration Target
Following a review of all exploration data, it is now believed that regional scale folds and probable associated parasitic folds should be considered the primary exploration targets across the Nimba License.
As a result, the Company undertook additional detailed field mapping to become more conversant with the stratigraphic, lithological, alteration patterns and structural controls to the mineralisation at the Ziatoyah prospect. A summary of the soil sampling, trenching and drilling results are shown in Figure 5 along with inferred structures and possible fold axis.
Future Work Programme
Following the signing of the Joint Venture Agreement with First Au Limited, a drilling programme, supported by detailed structural mapping, will be undertaken using two recently procured drill rigs. The objective is to not only establish a maiden resource but also obtain a better understanding of the structural controls to the gold mineralisation which can guide future drill campaigns and resource delineation.
Why invest
Invest for exposure to high-grade West African gold and Bitcoin, backed by strategic partnerships.
Investment case
Governed under the London Stock Exchange, providing institutional-grade transparency, credibility, and regulatory oversight.
Our results
A proven track record of discoveries, technical updates, and milestones driving shareholder value.