Many Peaks Finds Gold Continuity Beyond 900m at Ferké

Deepest Ouarigue Intercept Extends Mineralised System

Many Peaks Minerals Limited (ASX:MPK) has pushed the known depth of its Ouarigue gold system in Côte d’Ivoire beyond 900 metres, opening a much deeper exploration envelope beneath the company’s existing resource. The deepest hole, FNDC161, intersected 116.5 metres at 1.76g/t gold from 969.5 metres downhole, including a higher-grade 40.3-metre zone at 3.89g/t.

The intercept sits within an estimated 110-metre true width of mineralised intrusion and is more than 300 metres vertically below the previously reported FNDC135 hole. Many Peaks says the new drilling has increased the tested vertical extent of the Ouarigue intrusion by about 70%, from roughly 540 metres to more than 900 metres below surface.

Broad Intercepts Across Multiple Depths

The results are not confined to the deepest hole. FNDC162 returned 116 metres at 2.78g/t gold from 524 metres downhole, including 42 metres at 5.01g/t, while FNDC159 delivered 37.2 metres at 3.29g/t, including 9.35 metres at 10.9g/t. FNDC160 added 78.35 metres at 1.73g/t from 585.65 metres.

At greater depth, FNDC158 returned 89 metres at 1.58g/t from 828 metres, including 58.95 metres at 2.23g/t. Many Peaks says the drilling defines the mineralised intrusion over more than 200 metres of strike around the 600-metre vertical level, with interpreted true widths averaging about 40 metres at the reported pierce points.

Resource Growth Remains Unquantified

The new results sit outside the current Ouarigue Mineral Resource Estimate of 26.7 million tonnes at 1.54g/t gold for 1.323 million ounces. They are exploration results, not additions to that estimate, and the company has cautioned that any increase in tonnage, grade or resource classification depends on outstanding assays, geological interpretation and estimation by a Competent Person.

That qualification matters. Assays remain pending from 23 diamond holes totalling 6,657 metres and 65 reverse-circulation holes totalling 7,979 metres. The company has completed 51,340 metres of a planned 60,000-metre Côte d’Ivoire drilling programme for 2026, but says assay turnaround times and ongoing technical review will determine the timing and scope of further work.

Open-Pit and Underground Studies Planned

Once the updated Ouarigue resource is complete, planned for next quarter, Many Peaks intends to combine pre-feasibility-level open-pit work with a Scoping Study-level review of underground development options. The assessment is expected to examine mining rates, geotechnical parameters, metallurgy, infrastructure, capital costs and operating costs.

The study plan is a meaningful step beyond exploration, but it is not yet an economic result. Many Peaks has expressly warned that the planned studies may not support an economically viable mining operation, while the deeper mineralisation still requires further drilling and modelling. The next test for the story is whether the pending assays can convert an impressive deep exploration footprint into a resource shape that can be mined on credible terms.