Many Peaks Minerals (ASX:MPK) Extends Ferké Gold Beyond 900m Depth With 116.5m at 1.76g/t

Sonal Goyal

28 October 2026 01:09 PM AEDT

Many Peaks Minerals (ASX:MPK) Extends Ferké Gold Beyond 900m Depth With 116.5m at 1.76g/t

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Key Highlights

FNDC161 returned 116.5m at 1.76g/t gold from 969.5m, extending the Ouarigue intrusion from about 540m to more than 900m below surface.
Post-quarter hole FNDC166 intersected 188.9m at 3.58g/t gold from 633m, including 46.75m at 7.02g/t gold.
Over 55,400m of the 60,000m calendar 2026 drilling program was complete, and the Ouarigue resource stands at 26.7Mt at 1.54g/t gold for 1,323,000 ounces.
Cash at 30 September 2026 was approximately $20.1 million.

Many Peaks Minerals Limited (ASX:MPK) reported deep diamond drilling results from the Ouarigue prospect at its Ferké Gold Project in Côte d'Ivoire for the September 2026 quarter, lifting the tested vertical extent of the gold-bearing intrusion by about 70%. The company also completed the acquisition of the Baga Gold Project, finished an air core campaign at Odienné and ended the period with approximately $20.1 million in cash.

Ouarigue Intrusion Reaches Beyond 900m

Ouarigue carries a Mineral Resource of 26.7Mt at 1.54g/t gold for 1,323,000 ounces, about 83% of it in the Measured and Indicated categories. During the quarter Many Peaks reported assays from 30 diamond holes totalling 11,924m, with a third diamond rig added in late July. The deepest hole, FNDC161, reached 1,153.4m and returned 116.5m at 1.76g/t gold from 969.5m, including 40.3m at 3.89g/t gold and 7.25m at 20.0g/t gold. That result moved the tested depth of the mineralised intrusion from around 540m to more than 900m below surface, and mineralisation remains open below the hole.

At about 600m vertical depth the results define the intrusion over more than 200m of strike, with interpreted true widths averaging about 40m. FNDC162 returned 116.0m at 2.78g/t gold from 524m, including 42.0m at 5.01g/t gold, and ended in mineralisation. FNDC159 recorded 37.2m at 3.29g/t gold, including 9.35m at 10.9g/t gold, and FNDC158 returned 89.0m at 1.58g/t gold from 828m. These are exploration results and are not in the current resource.

After the quarter ended, FNDC166 intersected 188.9m at 3.58g/t gold from 633m, an estimated 95.3m true width, including 46.75m at 7.02g/t gold from 775.2m and 1.85m at 109.8g/t gold. Those holes formed the data cut-off for the Ouarigue resource update, which is scheduled for completion in the December 2026 quarter.

RC Drilling, Regional Targets and Studies

Reverse circulation results for 54 holes totalling 5,988m confirmed continuity over more than 800m of strike in the Inferred part of the northern resource, with 12m at 5.50g/t gold from 109m in FNRC268 and 44m at 1.51g/t gold from 22m in FNRC275. Regional drilling 3km to 4km south of Ouarigue, reported after the quarter, included 9m at 4.33g/t gold from 30m in FNRC285 and 2m at 12.6g/t gold from 146m in FNRC286, defining a trend of about 1km.

Following the resource update, the company plans an integrated technical and economic assessment, combining pre-feasibility-level open-pit work with underground options assessed at Scoping Study level. It aims to advance to a definitive feasibility study in 2027 to support a development decision by early 2028. Drilling totalled more than 55,400m across Ferké and Odienné against the 60,000m calendar 2026 plan.

Odienné, Baga and Corporate Changes

At Odienné, an air core campaign was expanded from 8,000m to 11,200m across 543 holes, and assays are pending after delays at the laboratory. A reverse circulation rig has been contracted for follow-up work.

Many Peaks exercised its option over the Baga Gold Project on 1 July 2026, taking a 100% interest in about 644km2 in central-eastern Côte d'Ivoire, 50km west of Endeavour Mining's Assafou deposit. Consideration comprised 1,500,000 fully paid ordinary shares issued on 27 August 2026 and US$1,000,000 in cash, with deferred payments tied to future JORC resource growth. More than 7,500 soil samples defined 16km of gold anomalism across nine zones, and a maiden auger campaign of 14,800m at 2,700 sample sites is awaiting assays.

Jamie Byrde was appointed Chief Financial Officer effective 26 October 2026 and Company Secretary from 1 October 2026, succeeding Aaron Bertolatti.

Where the Quarter Leaves Many Peaks

Many Peaks closed the September quarter with Ouarigue tested to more than 900m depth, a resource update at its data cut-off, three projects under drilling or sampling, and about $20.1 million in cash.

FAQs

Q: How deep has gold mineralisation been confirmed at Ouarigue?

A: FNDC161 intersected mineralised intrusion below 900m vertical depth, up from about 540m previously. The hole returned 116.5m at 1.76g/t gold from 969.5m.

Q: What is the current Ouarigue Mineral Resource?

A: It is 26.7Mt at 1.54g/t gold for 1,323,000 ounces, about 83% classified as Measured and Indicated. An update is scheduled for the December 2026 quarter.

Q: What did Many Peaks pay for the Baga Gold Project?

A: It issued 1,500,000 fully paid ordinary shares and paid US$1,000,000 in cash. Further deferred consideration is linked to future JORC Mineral Resource growth.

Q: What was the standout post-quarter drill result?

A: FNDC166 returned 188.9m at 3.58g/t gold from 633m, including 46.75m at 7.02g/t gold. The estimated true width is 95.3m.

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