How Many Peaks Achieved 94% Gold Recovery at Ferké: What’s Next?

Strong Metallurgical Results Signal Processing Advantage

Many Peaks Minerals (ASX – MPK) has unveiled encouraging preliminary metallurgical results from its Ferké Gold Project in Côte d’Ivoire, with gold recoveries averaging 94% from sulfide-bearing samples using LeachWell™ bottle roll tests. This level of recovery is notable for sulfide mineralisation, which often presents processing challenges, and suggests the gold is largely non-refractory; meaning it can be extracted using conventional cyanide leaching methods.

The significance of this lies in the potential for a lower capital expenditure and operating cost processing route, a critical factor for bulk-tonnage gold projects like Ferké. Cyanide leach processing is a well-established, cost-effective method, and the test results indicate Many Peaks could avoid more complex and expensive refractory processing techniques.

Ouarigue Prospect Continues to Impress

The metallurgical tests were conducted on diamond core samples from the Ouarigue prospect, a key target within the Ferké project area. Ouarigue has already delivered substantial intercepts, including intervals such as 84.8m at 3.01g/t gold and 64.5m at 6.11g/t gold, underscoring its resource potential. The mineralisation is hosted predominantly in granodiorite and tonalite intrusions with associated shear zones, extending over a 1km strike length and showing encouraging depth continuity.

These geological characteristics, combined with the metallurgical results, reinforce the prospect’s amenability to scalable, cost-efficient extraction methods. Many Peaks is preparing for a new drilling campaign starting November 2025, aiming to expand mineralisation and refine resource estimates.

Next Steps – Optimisation and Expansion

While the initial bottle roll tests provide a strong foundation, Many Peaks plans further metallurgical work to optimise grind size, reagent consumption, and recovery rates under practical processing conditions. This will help define the economic viability and refine cost models for the project.

Simultaneously, the company is advancing its exploration efforts with both reverse circulation and diamond drilling programs designed to delineate mineralisation more precisely and support an eventual resource estimation compliant with JORC standards. Ground geophysics and regional targeting are also underway to identify additional prospects within the broader Ferké tenure.

Permitting and Joint Venture Context

Many Peaks holds a 100% indirect interest in the Ferké project through Predictive Discovery Cote d’Ivoire SARL, which is in joint venture with Gold Ivoire Minerals SARL. The exploration permits are pending renewal for an additional three years, with no known legal or environmental impediments reported. The company also acknowledges a 1% net smelter royalty held by Resolute (Treasury) Pty Ltd on its share of future production.

These factors provide a stable framework for advancing the project through further drilling, metallurgical studies, and eventual feasibility assessments.