Many Peaks Minerals has revealed a major down-dip extension of gold mineralisation at its Ouarigue prospect in Côte d’Ivoire, highlighted by a 36m intercept at 2.64g/t gold from 600m depth. The results support ongoing resource growth and underpin plans for an updated Mineral Resource Estimate by the end of September.
- 36m at 2.64g/t gold extends mineralisation 100m deeper
- 21 diamond core holes total 5,888m assay results reported
- Northern corridor drilling confirms multiple mineralised zones
- Pending assays from 27 diamond and 65 RC holes
- MRE update targeted by end Q3 2026 with drilling into 2027
Significant Depth Extension at Ouarigue
Many Peaks Minerals Limited (ASX:MPK) has delivered a standout diamond core drilling result at its flagship Ouarigue prospect within the Ferké Gold Project, Côte d’Ivoire. Hole FNDC135 returned a broad mineralised intercept of 36.0 metres grading 2.64 grams per tonne (g/t) gold from 600 metres downhole, including higher-grade intervals of 4.2m at 5.39g/t and 5.0m at 1.46g/t gold. This intercept extends the known mineralised Ouarigue intrusion approximately 100 metres deeper and 160 metres along strike beyond previous drilling, marking a meaningful step-out in the resource footprint.
The depth extension is particularly notable given its potential to support underground mining methods, although economic parameters for such development remain to be established. This result builds on earlier deep intercepts such as FNDC087, which yielded 46.25m at 2.40g/t from 602m, confirming high-grade gold mineralisation at both the southern and northern extremities of the intrusion.
Broader Drill Program Reinforces Resource Continuity
These results contribute valuable geological and grade continuity data for ongoing resource modelling and confirm multiple mineralised zones at depth. The northern Ouarigue shear corridor remains open along strike, with further extensional reverse circulation (RC) drilling planned to test a 400-metre-long target north of the current MRE.
Pending Assays and Continued Drilling Into 2027
Assay results are awaited from a further 27 diamond core holes (9,375m) and 65 RC holes (7,979m), including reconnaissance drilling up to 4km south of Ouarigue. The company has three diamond rigs actively drilling extensional targets and anticipates a cut-off for the MRE update around the end of Q3 2026. However, drilling to underpin resource growth is expected to continue well into 2027.
Many Peaks plans to leverage these results to inform pre-feasibility-level technical studies scheduled for the December quarter. The Ferké South permit, pending formal grant, will also see targeted RC drilling on priority prospects with historical high-grade rock-chip results, potentially expanding the project’s footprint.
Strategic Implications for Many Peaks’ Côte d’Ivoire Portfolio
The Ouarigue results reinforce Many Peaks’ position in the prolific Birimian gold terrane, a region attracting significant exploration interest. The company’s methodical approach; combining diamond and RC drilling with detailed geological modelling; aims to build a pipeline of resources suitable for development. The pending MRE update and subsequent studies will be critical milestones for assessing the economic viability of deeper mineralisation and guiding capital allocation.
While the results are encouraging, the economic parameters for underground extraction at these depths are yet to be determined, introducing a degree of uncertainty. Nonetheless, the continuity of mineralisation and the scale of drilling underway position Many Peaks well to refine its resource base and advance towards feasibility.
Bottom Line?
The deep mineralisation confirmed at Ouarigue opens new avenues for resource growth, but the economics of underground mining at these depths remain to be evaluated.
Questions in the middle?
- How will pending assays from 27 diamond and 65 RC holes impact the upcoming MRE update?
- What economic assumptions will Many Peaks apply to assess underground mining potential at Ouarigue?
- Could the formal grant and drilling of the Ferké South permit significantly extend the project’s resource base?