Ferké Project’s High-Grade Intercepts Boost Many Peaks’ Development Risks and Rewards

Strong Drill Results Highlight Ferké’s Potential

Many Peaks Minerals Limited (ASX:MPK) has delivered a compelling update on its Ferké gold project in Côte d’Ivoire, revealing assay results from eight diamond drill holes that confirm the presence of substantial high-grade gold mineralisation. The standout intercept of 105 metres grading 2.28 grams per tonne (g/t) gold, including narrower zones of 26.9g/t and 17.8g/t, underscores the project's potential to host a significant bulk-tonnage deposit.

These results come from the Ouarigue prospect, a key area within the broader Ferké permit, where drilling has been focused on delineating mineralisation continuity and grade distribution. The consistency of mineralisation from surface to depth, with increasing grades at depth, suggests a robust geological model that supports the upcoming maiden Mineral Resource Estimate (MRE) planned for early 2026.

Metallurgical Testing Supports Economic Viability

Complementing the drilling success, preliminary metallurgical test work has yielded encouraging results, with gold recoveries reaching 94% under conventional cyanide leach processing. This high recovery rate bodes well for the economic extraction of gold and will feed into the pre-feasibility study (PFS) scheduled for completion in the final quarter of 2026.

The metallurgical campaign included representative sampling across oxide, transition, and fresh rock domains, ensuring that the test work reflects the variability of the deposit. Further metallurgical studies are ongoing to optimise processing parameters and confirm cost assumptions, which are critical for advancing the project towards development.

Aggressive Exploration and Expansion Plans

Many Peaks is maintaining an aggressive exploration approach at Ferké, with ongoing drilling programs extending beyond the initial 1.5-kilometre mineralised corridor at Ouarigue. The company plans to mobilise additional reverse circulation (RC) rigs to accelerate delineation and extensional drilling, targeting both near-surface and deeper mineralisation.

In parallel, soil sampling grids are being expanded to the western boundary of the permit, aiming to refine targeting and identify new zones of gold anomalism along the 37-kilometre Léraba trend. The recent grant of the South Ferké permit further enhances Many Peaks’ footprint in the region, providing additional exploration upside.

Strategic Positioning and Ownership Structure

Many Peaks holds an 80% interest in the Ferké project through its joint venture arrangements, with no known legal or environmental impediments affecting tenure. The company benefits from a clear pathway to full ownership by sole funding feasibility studies, while also managing a modest 1% net smelter royalty held by Resolute (Treasury) Pty Ltd.

The project sits within the prolific Birimian gold terrane, a well-established geological province known for hosting significant orogenic gold deposits. Many Peaks’ focused exploration and development strategy aims to unlock value by advancing Ferké through resource definition and economic studies.

Looking Ahead

With assay results continuing to be received and integrated, Many Peaks is on track to deliver its maiden Mineral Resource Estimate in the coming months. The subsequent pre-feasibility study will provide a clearer picture of the project’s economic potential, setting the stage for further investment and development decisions.

Investors and industry watchers will be keen to monitor the evolving resource metrics and metallurgical outcomes, which together will shape the future trajectory of this promising West African gold project.