Many Peaks Minerals has reported robust high-grade gold drilling results at its Ferké and Odienné projects in Côte d'Ivoire, alongside a solid financial footing with nearly A$13 million in cash and investments.
- 20,951m diamond drilling campaign at Ferké yields multiple high-grade gold intercepts
- Preliminary metallurgical tests show 94% gold recovery, indicating non-refractory mineralisation
- Ongoing exploration includes extensive RC drilling and geophysical surveys at both projects
- A$12.9 million cash and investments position supports continued exploration activities
- Appointment of Matthew Scully as Executive Director and COO to enhance operational leadership
Strong Drilling Results at Ferké Gold Project
Many Peaks Minerals Limited (ASX – MPK) has delivered a compelling update for the December 2025 quarter, highlighting significant progress at its flagship Ferké Gold Project in Côte d'Ivoire. The company completed a substantial 20,951-metre diamond drilling campaign, which returned multiple high-grade gold intercepts. Noteworthy results include intercepts such as 55.0 metres at 2.85 grams per tonne (g/t) gold, including 6.0 metres at 11.2 g/t, and 31.77 metres at 3.37 g/t, including 4.25 metres at 16.1 g/t. These results reinforce the potential for a sizeable, high-grade underground gold resource at the Ouarigue prospect within Ferké.
Further reconnaissance reverse circulation (RC) drilling has identified open-ended gold mineralisation along a corridor exceeding 10 kilometres, with significant shallow intercepts such as 24 metres at 1.33 g/t from surface. The continuity and increasing grade of mineralisation at depth suggest promising exploration upside, with a maiden mineral resource estimate anticipated mid-year.
Encouraging Metallurgical Test Outcomes
Preliminary metallurgical bottle-roll tests on fresh sulfide-bearing rock from the Ferké project have demonstrated an impressive average gold recovery of 94%. This indicates the gold mineralisation is non-refractory and amenable to conventional cyanide leaching, which typically translates to lower capital and operating costs for processing. Further metallurgical studies are underway to optimise grind size, reagent consumption, and leach times, aiming to confirm the economic viability of bulk-tonnage extraction methods.
Expanding Exploration at Odienné Gold Project
At the Odienné Gold Project, Many Peaks completed an initial RC drilling program in 2025, returning encouraging intercepts such as 21 metres at 1.21 g/t gold at the Zone C prospect. The company has also conducted extensional surface geochemistry sampling and initiated ground geophysical surveys to refine targets along the open gold trend identified. These activities set the stage for follow-up drilling planned for the June quarter, aiming to build on the early indications of mineralisation in this emerging gold district.
Corporate and Financial Strength
Financially, Many Peaks remains well-positioned with A$12.9 million in cash and investments as of 31 December 2025. The company spent A$3.8 million on exploration during the quarter, focusing on drilling, assaying, and geochemical sampling. Operating cash flows were modestly negative, reflecting the active investment in advancing its projects. Notably, the company appointed Matthew Scully as Executive Director and Chief Operating Officer, bringing over two decades of technical and operational expertise in West African mining projects. His leadership is expected to accelerate Many Peaks’ development trajectory.
Outlook and Next Steps
Many Peaks has already mobilised a second diamond drill rig to accelerate its 2025/26 drilling campaign at Ferké, with over 7,700 metres drilled in the December quarter and assays pending. The integration of drilling results with ongoing geophysical and geochemical surveys will refine exploration targets across both key projects. The company’s methodical approach and strong cash position provide a solid foundation for advancing towards resource definition and feasibility studies in the coming months.
Bottom Line?
With high-grade intercepts and strong metallurgical results underpinning its projects, Many Peaks is poised for a pivotal year of resource definition and development progress.
Questions in the middle?
- How will upcoming assay results from the ongoing drilling campaigns impact the resource estimates at Ferké and Odienné?
- What are the timelines and expected outcomes for the full metallurgical test program to confirm processing viability?
- How will the appointment of Matthew Scully influence operational execution and project advancement?