Many Peaks Clarifies Ferké Gold Results as Drilling Advances
Many Peaks Minerals Limited has amended its previous ASX announcement on auger sampling at the Ferké Gold Project to enhance regulatory compliance, while continuing to advance exploration with diamond drilling and planned air core and RC programs.
- Amendments clarify JORC Table 1 disclosures without changing core data
- Auger sampling identifies multiple large gold anomalies at Ferké
- Diamond drilling underway targeting extensions of high-grade mineralisation
- Air core and RC drilling planned for March to follow up auger targets
- Company leverages over US$4 million of prior exploration investment
Regulatory Update Enhances Transparency
Many Peaks Minerals Limited (ASX:MPK) has issued an amended ASX announcement to provide additional clarifications on its previously reported auger sampling results at the Ferké Gold Project in Côte d'Ivoire. The amendments focus on compliance with Listing Rule 5.7 and Clause 19 of the JORC Code, specifically refining the Competent Person's statements in the JORC Table 1 disclosure. Importantly, the underlying assay data and exploration results remain unchanged.
Auger Sampling Defines New Drill-Ready Targets
The original announcement, released on 29 January 2025, detailed near-surface auger sampling that successfully delineated multiple undrilled gold anomalies along the >16km Leraba gold trend at Ferké. Notably, two large anomalies measuring 340m and 650m wide were identified 1.9km and 3.8km north of the Ouarigue South prospect, with the northernmost anomaly remaining open to further extension. A standout peak assay of 18.5g/t gold was recorded 3.8km south of Ouarigue, an unusually high result for auger sampling that sharpens drill targeting within the extensive gold corridor.
Ongoing and Planned Drilling Programs
Complementing the auger results, Many Peaks is actively conducting diamond drilling at the Ouarigue South prospect to better define the geometry and extensions of previously intercepted high-grade gold mineralisation. The current campaign includes a minimum of five holes totaling over 1,000m. Following integration of auger and diamond drilling data, the company plans to initiate extensive air core and reverse circulation (RC) drilling programs in March to test priority targets identified through this combined dataset.
Strategic Positioning and Exploration Context
Ferké is a 300km² exploration permit situated in northern Côte d'Ivoire, strategically located near key regional infrastructure and within a prolific Birimian greenstone belt known for orogenic gold deposits. Many Peaks benefits from more than US$4 million of prior exploration investment, including geochemical and geophysical surveys, trenching, and drilling by previous operators. The current auger program, designed to sample beneath ferricrete layers resistant to erosion, offers a cost-effective method to refine drill targets in this complex regolith environment.
Compliance and Forward Outlook
The amendments to the ASX announcement underscore Many Peaks' commitment to transparent and compliant reporting, aligning with industry best practices and regulatory expectations. Executive Chairman Travis Schwertfeger highlighted the promising tenor and scale of gold anomalism revealed by the auger results, drawing parallels to mineralisation already confirmed at Ouarigue. The company’s forward-looking exploration strategy aims to delineate the volume potential of the Ferké project through integrated drilling and geochemical programs.
Bottom Line?
Many Peaks' clarified reporting and ongoing drilling set the stage for a pivotal phase in defining Ferké’s gold potential.
Questions in the middle?
- How will the integration of auger and diamond drilling data refine the upcoming air core and RC drill programs?
- What is the potential scale and grade continuity of the newly identified gold anomalies along the Leraba trend?
- How might regulatory clarifications impact investor confidence and the company’s market positioning?
