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Many Peaks Minerals (ASX:MPK) has this week received positive assay results from the Ferké gold project over in Côte d’Ivoire in preparation for a maiden mineral resource estimate (MRE). The additional assays are from eight diamond holes from the ongoing diamond core drilling at Ferké.
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The results are a combo of partial assay results from metallurgical and delineation drilling from February at the rapidly advancing Ouarigue gold prospect.
Many Peaks’ MD, Travis Schwertfeger, said metallurgical drilling successfully delivered representative sample material across all defined domains at Ouarigue for more advanced metallurgical test work over the coming months.
The partial assay results further demonstrated continuity and improved confidence of gold mineralisation, with the returned results including 105 metres at 2.28 grams per tonne (g/t) gold from 28 metres and 39.15 metres at 2.38 g/t gold from surface, the latter of which focused on testing oxide, transition and top fresh rock materials, and intentionally ended in gold mineralisation.
“Results further demonstrate the continuity of a substantial bulk-tonnage target that consistently shows increasing gold grades with depth,” Mr Schwertfeger said.
A robust geological model has emerged from drilling over the past year, more than tripling the vertical and lateral extent of gold mineralisation at Ouarigue and significantly broadening the mineralised intrusion.
“These reported results form a key milestone for Many Peaks, representing a cut-off point for data to be incorporated into the planned mineral resource estimation (MRE) for the Ouarigue prospect at Ferké.”
Further drill assay results are expected at the end of April. Drilling is planned to continue throughout the year, targeting an updated MRE in the fourth quarter this year to accompany a pre-feasibility study.
Subject to the grant of permit at Ferké South, Many Peaks is planning to extend the systematic soil sampling grid to the western boundary of the application area, including some infill sampling from 800 metres to 400 metres line spacing along the anomalous 37 kilometres Leraba gold corridor.
The company is also reviewing drill targeting for the Ferké South permit and anticipates RC drill tests following the grant of permit on prioritised historical high-grade rock chip areas, along with follow-up RC drilling on open mineralisation in the historical RC results at the Ferké South permit.
“We’re well positioned to readily step onto priority targets within Ferké South following final grant of tenure, anticipated later in the quarter,” Mr Schwertfeger said.
MPK is up +10.3% to 86¢ on Thursday.
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