Hamak reports strong results from IP survey at Liberia project
LSE-listed Hamak Gold has reported strong results from a geophysical induced polarisation (IP) survey conducted by South Africa-based geophysical consultancy company GeoFocus over the high-grade Ziatoyah gold discovery on the Nimba licence, in northern Liberia.
The survey covered 21 km of survey along traverses varying from 800 m to 1.2 km, with line spacings of 100 m and 200 m. The lines were chosen to cover the Ziatoyah gold discovery in the vicinity of the significant drill intersection of 20 m at 7 g/t gold, as well as the northern part of the 3 km x 1 km strong gold-in-soil anomaly.
The IP survey identified strong geophysical anomalies that are coincident with the high-grade Ziatoyah gold discovery and gold-in-soil anomalies, Hamak reported on May 10.
As a result, priority drill targets have been identified to test these geophysical anomalies and to identify extensions of the gold mineralisation encountered in the first drill hole at Ziatoyah, which intersected 20 m at 7 g/t gold.
"We are . . . encouraged with the results of the geophysical survey. After detailed review of the results, we have identified several high-priority drill targets to test these anomalies and determine whether they represent extensions of the gold mineralisation intersected at Ziatoyah," executive director Karl Smithson said.
This development was a positive sign for the company, he added, as it could lead to further expansion of its gold resources in the region. Hamak would now focus on drilling these priority targets to test the anomalies and determine whether they represented extensions of the gold mineralisation encountered in the first drill hole at Ziatoyah.
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