Many Peaks Minerals identifies high-grade gold shoot in maiden drilling at Ferké project
Many Peaks Minerals (ASX: MPK) has identified a high-grade gold shoot and a substantial extension to mineralisation during initial drilling at its Ferké project in Côte d’Ivoire.
The company completed six holes for a total of 1,285 metres over approximately 760m of strike along the Ouarigue South prospect, which hosts high-grade gold mineralisation from the surface.
Many Peaks sees the results as confirmation of Ferké’s potential for significant growth in scale from substantial extensions to gold mineralisation and increasing grades at Ouarigue South.
Best intersections
The new shoot returned best intersections of 11 metres at 2.16 grams per tonne gold from 53m and 45m at 8.58g/t gold from 104m including 25m at 14.8g/t gold from 116m and 7m at 1.58g/t gold from 153m.
The company believes these results indicate continuity of gold values higher than 10g/t over a strike extent of more than 120m at Ouarigue South.
They complement earlier drill holes, which assayed 47m at 3.72g/t gold from the surface including 14m at 10.7g/t gold from 33m and 54.17m at 1.88g/t gold from 59.58m, including 6.75m at 10.4g/t gold from 107m.
‘Previously unidentified zone’
“Our exploration team is delighted with the early success in our company’s maiden diamond campaign at Ferké, particularly in the previously unidentified structural zone, which has the potential to represent a high-grade shoot within the already high-grade mineralised intrusion at Ouarigue,” managing director Travis Schwertfeger said.
“Drilling also achieved our objective of extending gold mineralisation at Ouarigue along strike and down plunge of previous high-grade gold intersections.”
“We are encouraged by the plethora of targets this round of drilling has generated, which has seen us rapidly accelerate further diamond drilling at the new discovery.”
Follow-up drilling
Mr Schwertfeger said the company was planning a diamond core program to drill for extensions to the newly intersected shoots and commence delineation work.
Many Peaks expects to complete the follow-up program in the coming weeks alongside reverse circulation (RC) drilling.
The RC program will include shallow, systematic exploration of the Ouarigue extension targets with a focus on establishing bulk tonnage potential at Ferké.