Ferké Project’s Gold Zones Deepen and Widen, But Resource Estimate Still Pending

Diamond Drilling Advances Ferké Gold Project

Many Peaks Limited (ASX, MPK) has announced the final results from its extensive diamond drilling campaign at the Ferké Gold Project in Côte d’Ivoire, revealing substantial extensions to gold mineralisation at the Ouarigue prospect. The recently completed 64-hole program, totaling 20,951 metres, has significantly expanded the known volume and grade of mineralised zones, reinforcing the project’s potential as a major gold discovery in West Africa.

The drilling has notably tripled the vertical extent of mineralisation at Ouarigue, with several holes confirming mineralised shear zones and intrusion-related gold over increased widths and depths. Highlights include intercepts such as 35.7 metres at 3.81 grams per tonne (g/t) gold from 512.3 metres depth, and 13 metres at 5.94 g/t from 57 metres, among others. These results suggest a robust and continuous mineralised corridor open at depth and along strike.

Implications for Resource Growth and Metallurgy

The assay results underpin a growing confidence in the tonnage potential of the Ferké Project. Preliminary metallurgical testing has returned encouraging outcomes, with gold recoveries of approximately 94% under standard leach conditions, indicating the mineralisation is largely non-refractory and amenable to conventional processing methods. This bodes well for future economic extraction scenarios.

Many Peaks’ Managing Director, Travis Schwertfeger, emphasized the significance of these findings, noting that the expanded mineralisation and favourable metallurgy provide a strong foundation for advancing the project towards resource estimation and development. The company is preparing for a new reverse circulation (RC) drilling campaign scheduled to start in November 2025, aimed at further delineating and expanding the gold zones. This will be followed by additional diamond drilling and geophysical surveys to refine the geological model and target new areas.

Strategic Position and Joint Venture Framework

The Ferké Gold Project is situated within a prolific Birimian greenstone belt, a geological setting known for hosting significant orogenic gold deposits. Many Peaks holds a majority interest through its joint venture with Gold Ivoire Minerals SARL, with the company having funded over US$3.5 million to earn a 65% stake and retaining rights to increase to 85% by sole funding to feasibility study completion.

The project’s permits are currently pending renewal with the Ivorian government, with no known impediments to ongoing exploration and development. The joint venture structure includes a 1% net smelter royalty held by Resolute (Treasury) Pty Ltd, reflecting the collaborative nature of the project’s ownership and future production potential.

Looking Ahead, Exploration and Development Plans

With the diamond drilling campaign now complete and assay results integrated, Many Peaks is advancing its exploration strategy for the 2025-26 season. The upcoming RC drilling will focus on expanding mineralisation near surface and along strike, while further diamond drilling will target deeper extensions and structural controls. Ground geophysics surveys are also underway to support targeting and resource modelling.

The company’s methodical approach, combining detailed geological logging, rigorous sampling protocols, and comprehensive metallurgical testing, positions the Ferké Project as a compelling asset in the West African gold landscape. Investors and analysts will be watching closely as Many Peaks moves towards resource definition and potential development milestones.