Many Peaks adds targets to enhance Cote d’Ivoire gold quest
Mining
Mining
Special Report: Many Peaks Minerals has identified a string of targets ready for drilling to expand its Ferké gold project in Côte d’Ivoire, after shallow auger drilling picked up multiple anomalies yet to see detailed exploration surrounding high grade gold intercepts at the project’s Ouarigue South discovery.
The new Many Peaks Minerals (ASX:MPK) targets includes 340m and 650m-wide gold anomalies 1.9km and 3.8km north of the Ouarigue target, while a peak 18.5g/t gold assay from shallow auger sampling 3.8km to the south of previous gold intercepts in diamond drilling including 45.3m at 3.16g/t gold from 45.9m and 39.7m at 3.54g/t from 51.4m.
Rock chip sampling and mapping on priority anomalies has already begun on priority auger anomalies,moving in tune with an ongoing diamond drilling campaign that together will refine targeting on extensive undrilled gold surface anomalism. .
“Our company’s initial drill test at the Ferké gold project has highlighted multiple drill-ready targets within the north-south trending mineralised corridor,” Many Peaks Managing Director Travis Schwertfeger said.
“The tenor and size of the gold anomalism in the auger results is analogous to gold anomalism associated with gold mineralisation already confirmed in drilling at the Ouarigue prospect.
“The diamond drilling already in progress at the Ouarigue prospect is focused on delivering extensions and increasing confidence on the geometry of gold mineralisation.”
Schwertfeger added that with the auger and diamond drilling data sets on deck, the company is now planning extensive drill programs directed at better outlining the volume potential of Ferké.
Many Peaks acquired its package of Cote d’Ivoire assets last year with confidence it could quickly build an arsenal of high-grade ounces.
Investors and fellow goldies seemed to agree with the strategy as MPK got a hefty share price bump ahead of an ASX-listed gold rush in the country. The 300km2 Ferké exploration permit notably plays host to a mostly undrilled Leraba gold trend, stretching beyond 16km on the eastern margins of the Daloa greenstone belt.
The Company’s Ferké project is complimented by a strategic position within the emerging Odienne belt, where MPK await results of a recent air core drilling program on their project adjoining and along trend from recent discoveries by Canadian listed Awalé Resources, operating in joint venture with Newmont Corporation in Côte d’Ivoire’s northwest.
Despite having large chunks of the Birimian rocks which account for swathes of West African gold and some big-name mines, Côte d’Ivoire has lagged its neighbours when it comes to production.
But political instability in larger historical producers Burkina Faso and Mali and a host of major discoveries in recent years have seen mining capital flow to their coastal neighbour.
The world’s biggest cocoa producer has aims of diversifying its economy through mining, and MPK has the track record of West African discovery and development on its team to stake its claim.
To that end, the plan is to drill, with the diamond and auger programs expected to provide predictive targeting for a combined air core and RC campaign.
This article was developed in collaboration with Many Peaks Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.