Many Peaks Delivers Maiden 1.32Moz Gold Resource at Ferké, Raises A$27.5M to Accelerate Exploration

Transformational Maiden Resource at Ferké

Many Peaks Minerals Limited (ASX:MPK) marked a pivotal moment in its growth story with the June 2026 quarter unveiling a maiden Mineral Resource Estimate (MRE) for the Ouarigue prospect within its flagship Ferké Gold Project in Côte d’Ivoire. The independent JORC-compliant estimate tallies 26.7 million tonnes at 1.54 grams per tonne gold, equating to 1.32 million ounces of contained gold. Crucially, about 83% of this resource sits in the higher-confidence Measured and Indicated categories, providing a robust foundation for advancing the project.

The geological model reveals a steeply southeast-plunging porphyritic intrusion up to 95 metres wide and extending to around 540 metres depth, with mineralisation open at depth and along strike. The upper 250 metres alone hosts approximately 45% of the contained gold, offering a compelling target for potential open-pit development scenarios feeding into the ongoing Pre-Feasibility Study (PFS) scheduled for completion in the December quarter.

Drilling Momentum Supports Resource Growth

Drilling activity accelerated significantly, with over 39,000 metres completed during the quarter across diamond core (DC), reverse circulation (RC), and air core (AC) methods. At Ouarigue, 11,639 metres of DC drilling from 45 holes and 5,131 metres of RC drilling from 46 holes focused on resource delineation and expansion, with assay results confirming broad, high-grade zones consistent with the existing geological framework.

Notable intercepts include 106.7 metres at 2.52 g/t gold from 154.75 metres, featuring high-grade intervals such as 17.95 metres at 8.21 g/t and 8 metres at 9.29 g/t gold. These results reinforce the scale and continuity of the mineralised system and underpin confidence in further resource growth potential. The regional drilling program expanded with a third RC rig mobilised, completing 5,086 metres targeting multiple prospects along the 37-kilometre Léraba mineralised corridor.

Advancing Regional Exploration at Odienné and Baga

Beyond Ferké, Many Peaks progressed exploration at its Odienné and Baga projects. At Odienné, Gradient Array Induced Polarisation (GAIP) geophysical surveys successfully identified anomalies linked to known gold mineralisation and extended priority targets into previously untested areas along the Sassandra shear corridor. The AC drilling program expanded from an initial 8,000 metres to 10,900 metres, with results pending.

At Baga, the company exercised its option to acquire 100% ownership following encouraging soil sampling that revealed over 16 kilometres of gold anomalism across nine coherent zones. A substantial auger drilling campaign commenced, with 1,844 samples collected over 10,038 metres during the quarter. This grassroots exploration aims to define multiple follow-up drill targets within the 644 km² project area.

Balance Sheet Strengthened by A$27.5 Million Placement

Financially, Many Peaks fortified its position with a strongly supported A$27.5 million equity placement priced at A$0.90 per share. The first tranche raised approximately A$25.6 million during the quarter, with a second tranche of A$1.9 million pending shareholder approval in August, including participation by directors to the tune of A$800,000.

The capital injection underpins an aggressive exploration and development agenda, funding over 15,000 metres of expansion and delineation drilling at Ouarigue, completion of the PFS, more than 20,000 metres of drilling along the Léraba corridor, and ongoing work at Odienné and Baga. The company ended the quarter with A$26.7 million in cash and investments, having spent A$6.2 million on exploration activities.

Outlook Focuses on Resource Growth and Project Advancement

Looking ahead to the September quarter, Many Peaks plans to continue resource expansion drilling at Ouarigue, advance the PFS, and push regional exploration programs at Ferké, Odienné, and Baga. Assay results from ongoing RC and DC drilling are eagerly awaited to inform resource updates and targeting. The Baga acquisition, while subject to settlement conditions, adds a significant new growth avenue within the company’s Côte d’Ivoire portfolio.

With a pipeline of exploration and development catalysts and a fortified balance sheet, Many Peaks is positioning itself to accelerate value creation in a competitive West African gold landscape.