Many Peaks Ramps Up Three Drilling Programmes at Ferké Exploration

Diamond Drilling Targets High-Grade Gold Shoot at Ouarigue Prospect

Many Peaks Minerals (ASX:MPK) has commenced a significant phase of exploration at Ferké with diamond drilling now underway targeting extensions to high-grade gold mineralisation at the Ouarigue prospect. This follows exceptional results from earlier drilling that revealed substantial gold mineralisation potential.

The company is executing a comprehensive, multi-pronged exploration strategy with three drilling programs running concurrently:

• Diamond drilling has begun with an 8-hole program totaling 2,000m
• Air Core drilling is 88% complete with 150 of 170 planned holes already drilled
• Reverse Circulation drilling set to commence within 2-3 weeks with a planned 6,000m program

The aggressive exploration approach follows the company's recent phase 1 drilling success, which intersected a remarkable 25m @ 14.8g/t gold from 116m depth within a broader zone of 107m @ 4.13g/t gold (including 45m @ 8.58g/t gold).

Phase 2 Diamond Drilling: Targeting Significant Expansion Opportunities

The newly commenced diamond drilling program is strategically designed to test three key expansion targets:

1. Extensions to the potential high-grade feeder structure that delivered the standout 25m @ 14.8g/t gold intercept
2. Down-plunge extensions of bulk tonnage, intrusion-hosted gold mineralisation (previous drilling returned 26.95m @ 1.95g/t gold including 10m @ 3.38g/t gold)
3. Shallow gold mineralisation along the mineralised shear corridor with favourable gold intercepts spanning 1.4km at Ouarigue

This systematic approach aims to both expand the known mineralisation and provide critical data to support a maiden mineral resource estimation at Ferké.

The Geological Significance of the High-Grade Shoot

One of the most exciting aspects of Many Peaks Minerals' exploration at Ferké is the discovery of a previously unidentified high-grade gold shoot at Ouarigue. Measurements from oriented core indicate this high-grade mineralisation is associated with a steep westerly dipping structure, which may represent a feeder system to the broader mineralisation.

Four diamond drill holes are specifically targeting this high-grade shoot, with alternating drill orientations to confirm its geometry and determine if this potentially lucrative structure extends below the currently interpreted limit of the mineralised intrusion.

Comprehensive Exploration Approach with Multiple Drilling Methods

The company's three-pronged drilling approach demonstrates a methodical strategy to rapidly advance the Ferké project:

Air Core Program Status:

• 4,600m completed to date (88% of program)
• 150 of 170 planned holes drilled
• Completion expected within one week
• Results anticipated within the coming month

Upcoming RC Program:

• 6,000m planned
• Targeting multiple high-priority reconnaissance targets
• Will test over 9km of strike extent north and south of Ouarigue
• Results expected in June 2025

Understanding Intrusion-Hosted Gold Deposits

Intrusion-hosted gold deposits are an important type of gold mineralisation system where gold is associated with igneous intrusive rocks. At Ferké, Many Peaks has identified a strong correlation between high-grade gold mineralisation and felsic intrusion bodies.

This style of mineralisation can be particularly attractive to investors for several reasons:

1. Potential for significant scale: Intrusion-related systems can host large gold resources
2. Predictable geometry: The mineralisation often follows the shape of the intrusive body
3. Amenability to mining: These deposits can have favourable metallurgical characteristics

The presence of both the intrusion-hosted gold and a high-grade feeder structure at Ouarigue gives Many Peaks multiple exploration targets within the same system, potentially enhancing the economic prospects of the project.

Intrusion-Hosted Gold Deposits: An Educational Overview

Intrusion-hosted gold deposits form when gold-bearing fluids are introduced into or around igneous intrusive bodies. These deposits typically occur in orogenic belts and can be associated with various igneous compositions, though felsic to intermediate intrusions are most common.

Key characteristics of intrusion-hosted gold deposits include:

• Genetic relationship: Gold mineralisation is genetically related to the emplacement of intrusive bodies
• Structural controls: While the intrusion provides the host rock, structures such as faults and shear zones often control the distribution and concentration of gold
• Alteration signatures: These deposits typically display distinctive alteration patterns that can include silicification, sericitisation, and sulphide mineralisation
• Mineralisation styles: Gold can occur as free gold or be associated with sulphide minerals such as pyrite, arsenopyrite, or chalcopyrite

Many Peaks Minerals' exploration at Ferké is targeting this style of deposit, with the recent high-grade intercepts suggesting they may have identified a significant system with both intrusion-hosted bulk tonnage potential and high-grade structural controls.

Future Plans and Expected Timeline

Many Peaks is executing a well-defined exploration roadmap for the Ferké project:

This accelerated exploration approach means investors can expect a steady flow of news and results over the coming months, providing multiple potential catalysts for the stock. Furthermore, these developments could impact the gold price outlook for 2025 as new discoveries come to market.

Investment Thesis: Why Ferké Gold Project Warrants Attention

The Ferké Gold Project represents a compelling investment opportunity for several key reasons:

1. High-grade gold discoveries: The intercept of 25m @ 14.8g/t gold indicates the potential for a high-grade gold system
2. Scale potential: With gold anomalism identified across a 16km trend and the current drilling focusing on just a portion of this, the project offers significant resource growth potential
3. Multiple mineralisation styles: The presence of both intrusion-hosted mineralisation and high-grade structural zones increases the odds of defining an economically viable resource
4. Accelerated exploration timeline: Three concurrent drilling programs demonstrate management's commitment to rapidly advancing the project
5. Leveraging historical work: Many Peaks is building on more than US$4 million of previous successful exploration expenditure

In addition, the project could contribute to the industrial metals market, potentially affecting zinc and zinc oxide markets if polymetallic zones are discovered.

Why Investors Should Track Many Peaks Minerals

Many Peaks Minerals' exploration at Ferké presents an attractive opportunity for investors seeking exposure to gold exploration with several compelling attributes:

• Systematic exploration approach with three simultaneous drilling programs underway
• Early exploration success with high-grade gold intercepts including 25m @ 14.8g/t gold
• Prime location in northern Côte d'Ivoire, a politically stable West African country with established mining codes
• Catalyst-rich near-term outlook with multiple drilling results expected over the coming months
• Strategic land position at the intersection of major regional-scale shear zones in the Daloa greenstone belt

For investors seeking gold exploration exposure, Many Peaks offers a combination of high-grade discovery potential, systematic exploration approach, and a steady flow of upcoming results that could drive significant value creation in 2025. The company's work aligns with broader industry trends, including copper exploration projects and Rio Tinto's clean energy investments that highlight the growing focus on critical minerals for the green energy transition.

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