Many Peaks Minerals retains option to acquire Baga gold project

• MPK maintains 24-month option to acquire 100% of Baga gold project in Côte d’Ivoire
• Project complements company’s flagship Ferké gold project
• Advanced exploration planned

Special Report: Many Peaks Minerals will maintain its 24-month option on an exclusive right to acquire up to 100% of the Baga gold project in West Africa.

The project covers a strategic land position within the Birimian greenstone belts of Côte d’Ivoire, a region well-endowed with world-class gold deposits. 

Gold exploration and development is accelerating in the West African nation, which has been largely underexplored for deposits compared to its neighbours Ghana, Mali and Burkina Faso.

Baga is also complementary to the company’s Ferké project, an old Predictive Discovery site, and its Ouarigue prospect which shows all the hallmarks of a potential company maker of its own.

Many Peaks Minerals (ASX:MPK) said initial fieldwork at Baga had identified encouraging structural and geological features which warranted follow-up investigation. 

Surface soil geochemistry survey programs have been initiated with results anticipated over the coming months.

MPK has amended its option agreement with Atlantic Resources CI SARL and will proceed with a 12-month option fee to maintain the Baga option. 

The original all-scrip-based payments plan has been replaced with a reduced number of shares to be issued, together with a fixed cash payment.

Advanced exploration in the pipeline

The company will continue advancing exploration during its 24-month option period and further updates will be provided as results and progress milestones are achieved.

“The decision to maintain our option over the Baga gold project is aligned with our strategic focus on gold exploration in Côte d’Ivoire,” MD Travis Schwertfeger said.

“Early work is progressing across the vast land holding and this payment allows us to continue building our geological understanding ahead of more advanced exploration efforts.”

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.