Many Peaks Extends Ouarigue Gold Mineralisation with Strong Diamond Drill Results

Diamond Core Drilling Boosts Confidence in Ouarigue Resource

Many Peaks Minerals Limited (ASX:MPK) has delivered a fresh tranche of diamond core assay results that reinforce the growth potential of the Ouarigue Mineral Resource Estimate (MRE) within its Ferké Gold Project in Côte d’Ivoire. Eleven new diamond holes totalling 2,350 metres have returned consistently significant gold intercepts, including standout intervals such as 94.7 metres at 1.43 grams per tonne (g/t) gold and high-grade zones like 5.4 metres at 12.40 g/t gold. These results confirm the extension of the mineralised corridor along the northern boundary of the Ouarigue intrusion, a key structural domain for the project’s +1 million ounce resource.

The company highlighted hole FNDC112, which pierced through shallow cover to reveal 41.5 metres at 1.42 g/t gold from just 1.6 metres depth, followed by a further 39.8 metres at 3.94 g/t from 53.45 metres. This intercept lies only 25 metres north of a previously reported hole that intersected 89 metres at 0.92 g/t gold from surface, demonstrating continuity and increasing confidence in the geological model.

Reverse Circulation Drilling Accelerates Resource Expansion

Complementing the diamond drilling, Many Peaks has completed 7,051 metres of reverse circulation (RC) drilling across 63 holes. Of these, 46 holes totaling 5,131 metres targeted expansion of the northern extent of the Ouarigue MRE, with samples dispatched for photon assay analysis and results expected by mid-July. Additionally, 17 holes for 1,920 metres are probing priority targets 2 to 4 kilometres south of Ouarigue, focusing on in-fill and follow-up work after earlier wide-spaced drilling successes.

The ongoing RC program is part of a broader plan to complete 60,000 metres of combined diamond core, RC, and air core drilling across Côte d’Ivoire by year-end. This aggressive exploration schedule aims to underpin resource growth and enhance confidence ahead of a pre-feasibility study (PFS) slated for completion in the fourth quarter of 2026.

Resource Base and Project Development Plans

The current Ouarigue MRE stands at 26.7 million tonnes at 1.54 g/t gold, equating to approximately 1.32 million ounces, as reported in the company’s April 2026 announcement. Many Peaks is advancing a PFS to assess the economic viability of the project, leveraging the expanding resource base and ongoing drilling results. The study aims to refine mining and processing plans, incorporating metallurgical and geotechnical data.

Further exploration is planned at the adjacent Ferké South permit, where Many Peaks holds exclusive rights to earn up to an 80% interest. Pending formal grant of tenure, the company intends to conduct RC drilling tests on historical high-grade rock chip targets and open mineralisation zones, potentially adding new resources to its portfolio.

Geological Insights and Technical Rigour

The drilling program employs industry-standard techniques, including HQ and NQ wireline diamond core drilling with systematic sampling and photon assay technology, which analyses larger sample sizes for improved accuracy. The geological setting features granitoid intrusions and metasediments typical of the Birimian greenstone belt, hosting orogenic lode gold mineralisation. Assay quality control includes field duplicates, blanks, and certified reference materials, ensuring data reliability.

While some drillhole locations rely on handheld GPS with an accuracy margin of ±3 metres, Many Peaks plans differential GPS surveys to enhance spatial precision. Pending assay results from recent RC holes and sulphide mineralisation logging will inform ongoing resource modelling and targeting.