Many Peaks Reports Strong RC Drilling Extending Ouarigue Gold Resource

Strong RC Drilling Reinforces Ouarigue Resource

Many Peaks Minerals Limited (ASX:MPK) has unveiled a fresh tranche of reverse circulation (RC) drilling results from its flagship Ouarigue prospect within the Ferké Gold Project in Côte d’Ivoire. The 54 holes reported, totaling nearly 6,000 metres, reveal consistent gold mineralisation extending over 800 metres of strike, underpinning the continuity of the Inferred Mineral Resource and hinting at possible upgrades in classification.

Highlight intercepts include 44 metres at 1.51 grams per tonne (g/t) gold from 22 metres depth (hole FNRC275) and a standout 12 metres at 5.50 g/t gold from 109 metres, including a high-grade 2 metres at 26.9 g/t (hole FNRC268). These results bolster confidence in the mineralised shear corridor that hosts the resource, supporting the company’s ambitions to convert parts of the resource from Inferred to Indicated status.

Step-Out Drilling Targets Resource Expansion

Beyond confirming existing resource continuity, Many Peaks has pushed drilling approximately 400 metres north of the current Mineral Resource Estimate (MRE) boundary, with assays pending on the northernmost 300 metres of this extension. Early results from the southern 100 metres of this step-out zone already demonstrate encouraging mineralisation, including intercepts such as 16 metres at 0.73 g/t from 6 metres (FNRC256) and 40 metres at 0.51 g/t from 18 metres (FNRC260).

This step-out drilling is crucial as it tests the open-ended nature of the mineralised trend, with gold mineralisation remaining open both at depth and along strike. The pending assays from this and other regional reconnaissance drilling, which covers a 4-kilometre strike extent south of Ouarigue, will be pivotal in defining the resource’s full potential.

Accelerated Diamond Drilling to Support Resource Growth

Complementing the RC campaign, Many Peaks has completed 43 diamond core (DC) holes totaling over 12,000 metres, with assay results expected between late August and early October. A third diamond drill rig was mobilised in late July to intensify drilling on down-dip extensional targets, focusing on the deeper, higher-grade portions of the Ouarigue mineralised intrusion.

Previous diamond drilling has highlighted increasing gold grades with depth, including a significant intercept of 75 metres at 6.11 g/t gold from 427 metres downhole, indicating potential for underground mining methods. The ongoing DC drilling program aims to expand these high-grade zones and support a resource upgrade ahead of the planned MRE update in calendar Q4 2026.

Advancing Toward Prefeasibility and Broader Exploration

The company’s aggressive exploration strategy at Ferké is designed not only to grow the resource but also to improve confidence in the geological model, supporting an updated Mineral Resource Estimate and underpinning prefeasibility study (PFS) work targeted for completion by the December quarter of 2026. This PFS will evaluate the open-pit potential of the project and set the stage for a definitive feasibility study and potential development decision.

Meanwhile, Many Peaks is also preparing to commence drilling at the Ferké South permit once final tenure is granted, targeting historical high-grade zones and open mineralisation. This is part of a broader 60,000-metre drilling program planned across Côte d’Ivoire for 2026, reflecting the company’s commitment to rapidly advancing its portfolio in the prolific Birimian gold terrane.

With assay results pending from a substantial volume of drill holes and a clear pathway toward resource upgrades and economic studies, Many Peaks is positioning itself to capitalise on its growing footprint in Côte d’Ivoire’s gold sector.