Many Peaks Minerals (ASX:MPK) is ramping up its digging run with more targets in Côte d’Ivoire after positive assay results from its Ferke project confirmed the presence of a “robust and quickly expanding” gold system.
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All drill holes at Ferke – where three rigs are now turning – returned “significant intercepts” including increasing grades 70 metres down-dip at FNDC025.
The latest results included 230 metres at 1.2 grams per tonne gold from 225 metres, including 15 metres at 3.21 grams per tonne gold from 411 metres, and 79 metres at 1.46 grams per tonne gold from 238 metres.
Assays also extended mineralisation over 190m down dip and 100m south along strike.
Many Peaks is “increasingly excited” by the volume potential they’ve been finding through June exploration, especially because “each test of open mineralisation has generated additional follow-up targets” at Ferke.
This “justifies an acceleration in exploration,” Many Peaks managing director Travis Schwertfeger said – which is exactly what the explorer’s going to do.
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To date, eighteen of the 30 phase three holes at Ferke have been completed, with assays (obviously) already received from the first three. The rest of the results are expected to be in Many Peaks’ hands by September at the latest.
Many Peaks also recently ran reverse circulation drilling across Ferke in May – around 2,200 metres of a planned 6,000m are done; results are pending.
Heading into Tuesday’s trade, MPK shares will be selling at 71 cents each.
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