Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • MPK's share price jumps 19.4% to $0.86 on diamond drilling results from Côte d’Ivoire’s Ferké Gold Project.

  • Standout intercept of 75.0m @ 6.11g/t gold, including 7.07m @ 52.9g/t gold, significantly extends mineralisation depth.

  • Drilling program expanded from 6,000m to 15,000m, with over 13,200m already completed and further assays pending.

Many Peaks Minerals Limited (ASX: MPK) saw its share price leap 19.4% to $0.86 on Monday, 11 August, following the release of outstanding assay results from ongoing diamond drilling at its flagship Ferké Gold Project in Côte d’Ivoire. The results stem from six additional drill holes targeting both infill and extensional zones at the Ouarigue Prospect, part of a >37km gold corridor with limited prior testing.

Drilling Highlights

The standout result came from hole FNDC052, which intersected 75.0 metres at 6.11 grams per tonne (g/t) gold from a depth of 427.0m, including 7.07 metres at 52.9g/t gold. This high-grade zone occurs approximately 350m vertically below surface and significantly extends mineralisation down-dip, presenting potential for both open-pit depth extensions and underground development.

Other key intercepts included:

  • FNDC042: 87.0m @ 1.50g/t gold from 340.0m, including 12m @ 6.15g/t gold.

  • FNDC046: 35.85m @ 1.77g/t gold from 378.15m, including 10m @ 4.14g/t gold.

  • FNDC053: 44.0m @ 1.16g/t gold from 135.0m, including 2m @ 5.27g/t gold.

These results confirm both the continuity and expansion of the mineralised intrusion along strike and at depth, with mineralisation now traced a further 50m south of previous drilling.

Program Expansion and Exploration Potential

The diamond drilling program at Ferké began in April 2025 and has since been significantly expanded from its original 6,000m plan to a 15,000m campaign, reflecting consistent exploration success. To date, 46 diamond core holes totalling more than 13,200m have been completed, with assays pending for 22 holes (over 5,700m). Two rigs remain active on site, with an additional 4,000m of drilling planned.

Recent drilling has also identified a mineralised shear zone within the surrounding metasediments, providing a secondary target alongside the main intrusion-hosted gold. Holes FNDC045 and FNDC046 have delivered pierce points into this shear zone both north and south of the bulk-tonnage target, with further assays pending.

Next Steps

Many Peaks plans to continue systematically testing down-dip and along-strike extensions, with conceptual underground potential now firmly on the table given grades and widths at depth. Additional structural studies are planned to better define controls on high-grade zones and refine drill targeting.