Many Peaks Minerals reports promising diamond drilling results at its Ferké Gold Project, revealing expanding high-grade gold mineralisation and prompting accelerated exploration efforts.
- Second phase diamond drilling completed with 8 holes totaling 2,306m
- Significant gold intercepts including 201m @ 1.12g/t and 72.21m @ 2.11g/t
- Down-plunge extensions show increasing gold grades and volume
- Additional 4,000m diamond drilling campaign underway with second rig
- 6,000m RC drilling campaign planned to further define resource potential
Strong Growth at Ouarigue South Prospect
Many Peaks Minerals Limited (ASX:MPK) has delivered encouraging results from its second phase of diamond drilling at the Ferké Gold Project in Côte d’Ivoire. The recent program, focused on the Ouarigue South prospect, completed eight holes totaling 2,306 meters, with assay results received for 870 meters so far. These results reveal substantial extensions of gold mineralisation, notably including a 201-meter intercept averaging 1.12 grams per tonne (g/t) gold from surface and a deep 72.21-meter intercept averaging 2.11 g/t gold starting at 233.85 meters.
These findings underscore an expanding mineralised felsic intrusion with increasing gold grades and volume at depth, suggesting the potential for a larger resource than previously estimated. The presence of high-grade intervals, such as 4 meters at 20.54 g/t gold within the down-plunge shoot, highlights the prospect’s growing significance.
Accelerated Exploration and Resource Definition
In response to these promising results, Many Peaks has initiated an additional 4,000 meters of diamond drilling, deploying a second rig to accelerate exploration activities. This move reflects confidence in the project's potential and a strategic push to better define the geometry and continuity of mineralisation, particularly targeting high-grade feeder zones within the felsic intrusion.
Complementing the diamond drilling, a 6,000-meter reverse circulation (RC) drilling campaign is scheduled to commence shortly. This campaign aims to infill and extend known mineralised zones, providing critical data to support future resource estimation and feasibility studies.
Strategic Location and Geological Context
Situated in northern Côte d’Ivoire, the Ferké Project lies within a prolific gold-bearing greenstone belt, intersected by major regional shear zones. The Ouarigue South prospect benefits from this geological setting, with mineralisation hosted in felsic intrusions and associated shear zones. The project leverages over US$4 million in prior exploration, combining geochemical, geophysical, and drilling data to build a comprehensive understanding of the deposit.
Managing Director Travis Schwertfeger highlighted the increasing volume and grade potential, noting that the conceptual pit depths and bulk tonnage estimates are expanding as exploration progresses. The ongoing drilling campaigns are designed to refine structural controls and support a robust mineral resource model.
Outlook and Market Implications
While assay results remain partial and some intervals are pending, the current data points to a compelling growth story for Many Peaks at Ferké. The company’s proactive approach in scaling up drilling efforts signals a commitment to advancing the project toward resource definition and potential development. Investors will be watching closely as further results emerge and the resource model evolves.
Bottom Line?
Many Peaks’ expanding high-grade gold zones at Ferké set the stage for a pivotal phase in resource growth and project advancement.
Questions in the middle?
- How will pending assay results from FNDC032 and other holes impact the overall resource estimate?
- What are the implications of the newly identified down-plunge extensions for mining scale and economics?
- How will the upcoming RC drilling campaign refine the understanding of mineralisation continuity and grade?