Hamak Gold Limited announced that it has signed a drilling contract with Cestos Drilling Liberia (Cestos). The agreement is for an initial drilling programme to identify the depth and width extensions of significant gold mineralization recently identified from channel sampling of the Ziatoyah bedrock outcrop exposure in an area of artisanal workings on its Nimba Licence in northern Liberia. The programme of up to 450m of diamond core drilling will commence in late October. Initially, two angled HQ/NQ core holes, attaining vertical depths of 128m and 85m respectively, are scheduled to be drilled under the previously reported gold mineralization associated with a metadolerite outcrop at the Ziatoyah location.

Notable results so far obtained include rock chip samples grading at 46g/t Au and 37g/t Au and channel sampling that returned 55.0m at 0.63 g/t Au and 11.0m at 0.99 g/t Au, which include better intervals of 14m at 1.98g/t Au and 3m at 3.14g/t Au respectively. Within these zones are individual samples returning up to 5.2g/t Au and 8.56g/t Au over 2m splits. The channel sampling results show that the mineralization is open ended at surface, so the drilling will be orientated to test the width extent of the gold mineralization at depth.

The drill core will be split, logged and photographed with half of the core being consigned to the ALS laboratory in Ghana for gold fire assay. A third drill hole may be drilled at the Ziatoyah location, or further to the northeast to test positive channel sample results in trenches excavated across gold in soil anomalies. If positive results are returned from the assays, then a more extensive drilling programme will incorporate the wider soil sampling and channel sampling results within the bloc.

The Company has agreed to pay for the drill programme through the issuance of 781,250 ordinary shares in Hamak Gold Ltd. and a cash payment of U$20,000 to Cestos Drilling.  The shares are being priced at 10 pence per share and will be issued on the satisfactory completion of the drill programme. The exact number of shares issued will depend on the final drill meterage. Shares issued to Cestos will be subject to a six-month lock-in period.

A total of 1,733 soil samples have been collected and assayed from Nimba Block-1. A strong gold anomaly extends over a length of 3km and width of 1km and includes peak values of over 1.5ppm (g/t Au). The anomaly trends in an approximate northeast orientation which is consistent with the trend of the gold mineralized metadolerite outcrop observed at Ziatoyah. Two trenches, totalling 554m in length, have been dug across two key gold in soil anomalies.

Trench-1 was excavated over a distance of 274m and to a depth of 3m. A total of 303 samples were collected and assayed. Trench-2 was excavated over a distance of 280m and to a depth of 3m. A total of 310 samples were collected and assayed.

In both cases bedrock was not reached with the over burden being thicker than expected. However, both trenches show encouraging broad gold anomalism across the channel samples with increasing values at the southeast end of each trench (272ppb in Trench-1 and 310ppb in Trench-2) and therefore the trenches will be extended to the southeast. Furthermore, to better define these strong soil anomalies, additional trenches are also required to be dug and channel sampled prior to subsequent drilling.