Ferké shapes as bulk tonnage gold operation for Many Peaks Minerals

• MPK intersects broader zones of shallow mineralisation at Ferké, with further extensions at depth and along strike
• Project in prolific gold producing region in Africa
• Company expects more assays in the near-term

Special Report: Many Peaks Minerals has its sights set on a potential bulk tonnage operation at the Ferké gold project in Côte d’Ivoire.

Ferké is on the eastern margin of the Daloa greenstone belt at the intersection of major regional-scale shear zones and is host to the >16km Leraba gold trend.

It benefits from more than US$4m of previous exploration expenditure with follow-up activity focused on extending confirmed gold mineralisation.

The company said broad assays from seven diamond drill holes had confirmed extensions to mineralisation along strike and at depth – including increasing grades with depth.

Assays from infill drilling at Ouarigue prospect include:

• 87m at 1.67g/t gold from 221m, including 29m at 3.46g/t from 224m;
• 84m at 1.53g/t Au from 58m, including 2m at 18.1g/t from 83m, and 8m at 2.11g/t from 158m, including 2m at 7.43g/t;
• 55m at 1.94g/t Au from 68m, including 4m at 10.03g/t from 76m;
• 89m at 0.92g/t Au, including 12m at 1.48g/t from surface; and
• 11m at 0.87g/t Au from 191m and 5m at 1.27g/t from 217m. 

Many Peaks Minerals (ASX:MPK) believes the increasing widths of mineralised zones intersected reinforce the project’s potential for a bulk tonnage operation.

Bulk tonnage target looking viable

A total of 41 holes have been drilled for more than 11,200m, with 23 diamond holes pending analysis. Assays from a completed 6,000m of RC drilling are also pending.

“These latest results from Ferké are particularly encouraging, in addition to further examples of gold grades increasing with depth, the results also deliver marked increases in volume in both extension and infill drilling, adding to the viability of a bulk tonnage target evolving at Ferké,” MD Travis Schwertfeger said.

“Central to the mineralised zone confirmed in previous drilling, drill hole FNDC041 intersected a 95m true width zone of mineralised intrusion, locally a 26% increase over the previously interpreted width, bolstering the model further.”

Additional assay results are expected in the next month.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.