Diamond Drilling at Ferké Yields Up to 10.8g/t Gold Over 230m

Expanding the Gold Footprint at Ferké

Many Peaks Minerals Limited (ASX – MPK) has announced a compelling update from its Ferké Gold Project in Côte d’Ivoire, revealing that recent diamond drilling has significantly extended the known gold mineralisation both down-dip and along strike. The latest results confirm a robust and expanding gold system hosted within a granodiorite intrusion, reinforcing the company’s exploration model of a southerly plunging shear-hosted deposit.

The drilling campaign has delivered multiple substantial intercepts, including a standout 230 metres at 1.2 grams per tonne (g/t) gold from 225 metres depth, featuring a higher-grade zone of 15 metres at 3.21 g/t. Other notable results include 79 metres at 1.46 g/t with a 7-metre interval grading 10.8 g/t, and 27.1 metres at 1.73 g/t with an 11.8-metre section at 4.17 g/t. These intercepts extend mineralisation over 190 metres vertically and 100 metres laterally, highlighting the potential scale of the system.

Operational Momentum and Exploration Strategy

Currently, three drill rigs are active on site, with two dedicated diamond rigs focused on infill and extension drilling of the high-grade zones, while reconnaissance reverse circulation (RC) drilling has recently commenced. Additionally, a 6,000-metre air core (AC) drilling campaign is underway, with over 2,200 metres completed and assay results pending. This multi-pronged approach aims to rapidly delineate the mineralised corridor and test for further extensions along the Leraba Trend, a 16-kilometre gold-hosting structure within the project area.

Managing Director Travis Schwertfeger expressed optimism about the results, noting that each test of open mineralisation has yielded encouraging extensions. The company’s exploration model, which anticipates a southerly plunging zone of shear-hosted gold mineralisation within the granodiorite intrusion, is gaining validation as drilling progresses. The ongoing Phase 3 program is expected to deliver further insights over the coming weeks and months as assay results are received and integrated.

Strategic Context and Joint Venture Framework

The Ferké Project is held under a joint venture with Gold Ivoire Minerals SARL, with Many Peaks currently holding a 65% interest and the right to increase to 85% by sole funding to a definitive feasibility study. The permits are subject to renewal processes with the Ivorian government, and the company reports no known impediments to ongoing exploration activities. A 1% net smelter royalty is held by Resolute (Treasury) Pty Ltd on Many Peaks’ share of future production, which is a relevant consideration for project economics.

Geologically, the project sits within the Birimian greenstone belt, a prolific gold province in West Africa, with mineralisation associated with granitoid intrusions and shear zones typical of orogenic lode gold deposits. The extensive drilling to date, including over 8,000 metres of diamond core and concurrent RC and AC programs, is designed to build a comprehensive understanding of the deposit’s geometry and grade continuity.

Looking Ahead

As Many Peaks continues to advance its drilling campaigns, the market awaits the pending assay results from the air core and reverse circulation programs, which will provide further clarity on the project’s resource potential. The company’s methodical approach to testing extensions and infill drilling positions it well to define a meaningful resource base in a highly prospective region.