Environmental and Resource Uncertainties Loom Over Ferké’s Gold Expansion

Expanding the Gold Footprint

Many Peaks Limited (ASX, MPK) has delivered a compelling update from its Ferké Gold Project in Côte d’Ivoire, with diamond drilling results that extend both the depth and grade of gold mineralisation. Eleven new drill holes returned significant intercepts, including a standout 84.8 metres grading 3.01 grams per tonne gold from nearly 296 metres depth, featuring a high-grade segment of 7.5 metres at 9.27 grams per tonne. These results reinforce the project’s potential to host a substantial gold resource.

The drilling campaign, initially planned for 6,000 metres, has been ramped up to over 18,500 metres in response to the encouraging findings. Since April 2025, Many Peaks has completed 55 diamond drill holes totalling 16,500 metres, with assays pending for 21 holes. This aggressive exploration approach underscores the company’s confidence in the Ferké Project’s upside.

Depth and Grade, Key Drivers

The new drilling results demonstrate mineralisation continuity down-dip and laterally along a strike of approximately 450 metres at the Ouarigue prospect within the Ferké Project. Notably, mineralised zones have been traced to vertical depths exceeding 300 metres, with widths ranging from 65 to 92 metres. The presence of higher-grade intervals within broader mineralised envelopes, such as 7.5 metres at 9.27 grams per tonne, points to robust tonnage-grade potential.

These findings not only increase the volume of mineralisation but also suggest the possibility of both open-pit and underground mining scenarios. The company’s systematic drilling, spaced at 50 metres along strike and 60 to 80 metres down-dip, aims to refine the geological model and support future resource estimation.

Strategic and Operational Context

Many Peaks operates the Ferké Project through its 100% indirect ownership of Predictive Discovery Cote d’Ivoire SARL, in joint venture with Gold Ivoire Minerals SARL. The project area is situated within the Birimian greenstone belt, a prolific gold province in West Africa. The company has successfully funded exploration expenditures exceeding US$3.5 million, securing a 65% interest with rights to increase to 85% by sole funding to a definitive feasibility study.

While the project benefits from a supportive regulatory framework, it faces environmental considerations due to classified forest areas overlapping parts of the permits. Many Peaks is navigating these challenges with established frameworks for mineral rights continuity and restoration efforts.

Looking Ahead

With assay results pending from reconnaissance and diamond drilling campaigns, Many Peaks is positioned to further delineate the mineralised system at Ferké. The company’s methodical approach, combining infill and extensional drilling, aims to underpin a maiden mineral resource estimate in due course. Investors and analysts will be watching closely for upcoming assay releases and updates on resource modelling.