en.Wedoany.com Reported - Many Peaks Minerals (ASX:MPK) has announced the maiden Mineral Resource Estimate for the Ouarigue prospect within its Ferké Gold Project in Côte d'Ivoire. The results show a resource of 26.7 million tonnes at an average grade of 1.54 grams per tonne of gold, totaling 1.32 million ounces. This includes 23.1 million tonnes (1.47 g/t Au) in the Measured and Indicated categories, and 3.5 million tonnes (2.0 g/t Au) in the Inferred category.

The company stated that the resource has a high level of confidence, with 83% in the Measured and Indicated categories, and a discovery cost of approximately US$11.19 per ounce of gold after considering acquisition costs. Many Peaks applied a metallurgical assumption of 90% gold recovery, while preliminary tests have achieved an average recovery of up to 94%.

Managing Director Travis Schwertfeger noted that the maiden resource estimate is a key step in advancing the development of the Ferké project. He said, "Just 13 months after the initial drilling results were announced, we commend the exceptional efforts of the technical team in Côte d'Ivoire for delivering a high-quality resource at a low cost of just over US$11 per ounce, which provides a solid foundation for the company's growth."

Schwertfeger added, "Exploration momentum continues to accelerate, driven by the significant expansion potential demonstrated at the Ouarigue prospect. The company is actively expanding the exploration footprint beyond the initial 1.5-kilometre strike length and plans to increase drilling along the Ferké gold corridor to advance project scale definition. Concurrently, we recently appointed Matthew Scully as Chief Operating Officer and Executive Director to strengthen the team and advance mining studies."

Drilling at Ouarigue is ongoing, focusing on resource expansion and conversion of Inferred resources, with an update expected in the December quarter. The company plans to commence reverse circulation drilling in April, targeting priority expansion areas along the Leraba gold corridor. Many Peaks Minerals is a gold and copper exploration company focused on a portfolio of projects in West Africa.

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