Nearly 15,000m Drilled at Ferké and Odienné as Many Peaks Targets Gold Extensions
Many Peaks Minerals has initiated diamond drilling at its Ferké gold project in Côte d'Ivoire, following extensive auger and air core drilling campaigns at Ferké and Odienné. Assay results are eagerly awaited as the company targets extensions of high-grade gold mineralisation.
- Diamond drilling commenced at Ferké gold project, first deep drilling since 2021
- 14,845m of combined drilling completed across Ferké and Odienné projects in December quarter
- Assay results pending from 6,756m auger drilling at Ferké and 8,089m air core drilling at Odienné
- Focus on extending high-grade gold mineralisation at Ouarigue South prospect within Leraba gold trend
- Incentive options issued to directors and employees to align with exploration objectives
Diamond Drilling Resumes at Ferké
Many Peaks Minerals Limited (ASX: MPK) has taken a significant step forward in its Côte d'Ivoire gold exploration strategy by commencing a diamond drilling campaign at the Ferké gold project. This marks the first deep drilling activity at Ferké since 2021, aiming to better define geological controls on previously identified high-grade gold mineralisation.
The current program targets extensions near the Ouarigue South prospect, where earlier drilling returned promising intercepts such as 45.3m at 3.16g/t gold and 39.7m at 3.54g/t gold. These results underscore the potential for substantial high-grade shoots within the Leraba gold trend, a structurally complex and prospective corridor exceeding 16km in length.
Extensive Drilling Campaigns Across Two Projects
During the December quarter, Many Peaks completed a combined total of 14,845 metres of drilling across its Ferké and Odienné projects. This includes 6,756 metres of auger drilling at Ferké and 8,089 metres of air core drilling at Odienné. Both programs are designed to refine target rankings and expand the footprint of gold mineralisation ahead of follow-up drilling.
At Odienné, the air core drilling focused on multiple gold anomalies along a 16km strike within a high-strain corridor associated with the Sassandra Fault. This structural feature is known for hosting significant gold deposits in the region, including the nearby 5.4 million ounce Bankan deposit in Guinea. Assay results from Odienné are expected in February, potentially adding further momentum to Many Peaks’ exploration narrative.
Strategic Positioning in a Growing Gold District
Both projects benefit from their location within emerging gold districts marked by recent discoveries and active joint ventures. Ferké’s Leraba trend has demonstrated continuity of mineralisation through trenching, RC, and diamond drilling, while Odienné sits adjacent to successful operations by Awalé Resources and Newmont. Many Peaks’ joint venture structure, with a 65% interest and option to increase to 85%, provides a strong platform for advancing these assets.
Aligning Incentives with Growth Ambitions
In parallel with exploration progress, Many Peaks has announced a new issue of 3 million unlisted incentive options and performance rights to directors, employees, and its in-country tenement manager. These incentives are designed to retain talent and align the team’s interests with the company’s long-term value creation goals, particularly as it navigates the competitive West African gold exploration landscape.
With assay results pending from the recent drilling campaigns, Many Peaks stands at a pivotal juncture. The integration of new data will be critical in prioritising targets and shaping the next phase of exploration, potentially unlocking significant value for shareholders.
Bottom Line?
As Many Peaks awaits assay results, the market watches closely for signs of a new high-grade gold discovery in Côte d'Ivoire’s evolving gold corridor.
Questions in the middle?
- Will the pending assay results confirm extensions of high-grade gold mineralisation at Ferké?
- How will Many Peaks prioritise targets for follow-up drilling based on the new data?
- What impact will the incentive option issuance have on management’s focus and company performance?
