Ferké Drilling Yields 15m at 0.72g/t Gold, RC Campaign Expanded to 7,000m
Many Peaks Minerals confirms a broad gold mineralised corridor over 9km at its Ferké Gold Project in Côte d’Ivoire, prompting an expanded drilling campaign and new exploration targets.
- Shallow air core drilling intersects gold along entire 9km corridor
- Notable gold intercepts include 15m at 0.72g/t and 6m at 1.39g/t
- Reverse circulation drilling increased from 6,000m to 7,000m
- Diamond core drilling ongoing at Ouarigue prospect with 6,800m completed
- Exploration permits pending renewal, no major legal or environmental issues
Extensive Gold Mineralisation Confirmed
Many Peaks Minerals Limited (ASX – MPK) has reported encouraging assay results from its recent air core drilling program at the Ferké Gold Project in Côte d’Ivoire. The shallow reconnaissance drilling, averaging just 31 metres in depth, intersected gold mineralisation on every traverse tested, extending over a strike length exceeding 9 kilometres. This discovery confirms the presence of a significant mineralised corridor within the Daloa greenstone belt, a region known for its orogenic gold deposits.
Key Drill Results and Exploration Advances
Among the highlights, the drilling returned intercepts such as 15 metres at 0.72 grams per tonne (g/t) gold including a higher-grade 3 metres at 2.30 g/t, and a 6-metre interval grading 1.39 g/t gold. These results are particularly notable given the wide spacing of the drill lines, indicating a robust and extensive mineralising system. The presence of intrusion-related material intersected in multiple holes suggests a fertile geological environment that warrants further detailed investigation.
In response to these promising results, Many Peaks has expanded its reverse circulation (RC) drilling program from an initial 6,000 metres to 7,000 metres, with 45 holes already completed totalling over 5,200 metres pending assay analysis. Concurrently, diamond core drilling continues at the Ouarigue prospect, a key area within the project’s >16 km gold anomalism corridor, with 26 holes and over 6,800 metres drilled to date.
Strategic Implications and Next Steps
Managing Director Travis Schwertfeger expressed satisfaction with the air core results, noting that the shallow weathering profile and broad zones of gold anomalism exceeded expectations. The company is now focused on follow-up RC and diamond drilling to test extensions of mineralisation in fresh rock and to better understand the geometry and composition of the intrusions identified.
Exploration permits covering the Ferké project and adjacent areas are currently pending renewal with the Ivorian government, with no known legal or environmental impediments reported. The project operates under a joint venture with Gold Ivoire Minerals SARL, with Many Peaks holding a majority interest and the right to increase its stake through sole funding to feasibility study completion.
Broader Context and Market Outlook
The confirmation of a large-scale mineralised corridor at Ferké positions Many Peaks well within the competitive West African gold exploration landscape. The combination of shallow oxide mineralisation and deeper fresh rock targets offers multiple avenues for resource growth. As assay results from ongoing drilling campaigns become available, investors will be watching closely for indications of resource size and grade that could underpin future development decisions.
Bottom Line?
Many Peaks’ expanded drilling and extensive gold hits at Ferké set the stage for a pivotal phase in defining a potentially significant West African gold resource.
Questions in the middle?
- What will the pending assay results from RC and diamond drilling reveal about deeper mineralisation?
- How will the renewal of exploration permits and forestry classifications impact project timelines?
- Can Many Peaks delineate a resource with sufficient scale and grade to attract development partners?
