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Many Peaks Minerals
Overview
Many Peaks (ASX:MPK) is an Australia-based mineral exploration company with gold-copper assets in West Africa and Australia, and exposure to key energy transition assets in Newfoundland, Canada – all these countries are globally significant and attractive mining jurisdictions. With drill-ready targets across its projects, Many Peaks aims to realise growth and value creation through near-term mineral resource definition and exploration discovery.
In West Africa, the company is focused on the recent acquisition of three mineral projects in Cote d’Ivoire totaling 1,275 square kilometres, including the Odienne and Ferké gold projects with recent gold discoveries and more than US$4 million in previous exploration expenditures.
Queensland assets bolster the portfolio with a land package of over 1,080 square kilometres in central Queensland with significant gold confirmed in drilling across multiple projects, each with open mineralisation ready for follow-up. The company’s Australian portfolio has excellent infrastructure and is host to intrusion related gold systems and copper gold porphyry style mineralisation.
Many Peaks’ Canadian asset targets lithium potential in Newfoundland, where an emerging lithium district is strategically positioned with access to both European and North American markets.
A management team with a range of experience throughout the natural resources industry leads the company towards achieving its goals of strengthening shareholder value through exploration.
Company Highlights
- Many Peaks is a mineral exploration company with assets in West Africa, Australia and Canada – all mining-friendly jurisdictions.
- In West Africa, Many Peaks holds a 65 percent interest and earning to an 85 percent interest in the Ferké and Odienné projects
- Many Peaks holds a 100 percent interest in the Aska Lithium Project in Newfoundland, Canada, and an extensive portfolio of copper-gold assets in Australia.
- An expert management team with extensive experience throughout the natural resources industry leads the team toward fully exploring its assets.
Key Projects
Cote d’Ivoire (West Africa)
Many Peaks’ assets in Cote d’Ivoire comprise three projects – Odienné, Ferké and Oume.
Many Peaks acquired three projects from Turaco Gold in March 2024, triggering a drag-along right in its joint venture on the projects with Predictive Discovery, and consolidating ownership in a holding company owning an Ivorian subsidiary party to a joint venture/farm-in arrangement that has acquired a 65 percent interest in the projects and retains an exclusive right earning into an 85 percent interest by funding the projects through feasibility study.
The projects include - Odienné, Ferké and Oume – comprising four permits across 1,275 square kilometres of land package in Cote d’Ivoire, with recent gold discoveries at both Odienné and Ferké ready for follow-up drilling.
Ferké Gold Project
Located in northern Cote d’Ivoire, the Ferké gold project covers 300 square kilometres with a granted exploration licence. Ferké is situated on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones.
Initial exploration work conducted at Ferké defined a more than 17-kilometre long gold-in-soils anomaly on the Leraba Gold Trend. Previous exploration included systematic surface geochemistry, trenching and reconnaissance reverse circulation (RC) drilling across the broader Ferké area. Early success in reconnaissance RC drilling included initial intercepts into the Ouarigue South target area, including results of 25 metres @ 3.06 grams per ton (g/t) gold from 64 metres in hole FNRC016.
The success in RC drilling was followed up with trenching and an initial 18 diamond drill holes, which confirmed a significant outcropping mineralised body associated with a granite intrusion, including intercepts from surface of 91.1 metres @ 2.02 g/t gold in hole FNDC008 and 47 metres @ 3.72 g/t gold from surface in hole FNDC012.
Odienné Gold Project
Located in northwest Cote D’Ivoire, Odienné comprises two granted exploration permits covering a total area of 758 square kilometres. It is situated on the flexure of a regional scale structure zone hosting mineralisation to the northwest in neighbouring Guinea and immediately south along the margin of the Archean aged Man craton.
Auger drilling in early 2023 defined coherent gold in saprolite anomalism, which prompted a maiden air core drilling campaign in late 2023. Wide spaced reconnaissance drilling covering three prioritised targets extending across more than 16 kilometres of a 30-kilometre gold anomaly intersected significant intercepts of gold on each line of drilling from the intial 160 shallow air core drill holes within the extensive gold anomaly at Odienné. The air core drilling returned its strongest results in 8 to 16 metre zones of mineralisation at 1.0 to 1.30 g/t gold along a strike of 1,200 metres extent.
Oumé Gold Project
The Oumé project is an early-stage exploration asset located in south-central Cote D’Ivoire. It comprises a single exploration permit (the Beriaboukro licence) and is situated on the Oumé-Fetekro belt, historically one of Cote d’Ivoire’s most productive greenstone belts. The area is host to Allied Gold’s 2.5 million-ounce (Moz) Bonikro, the 1 Moz Agbaou gold operations and Endeavour’s 2.5 Moz Fetekro gold project.
Queensland (Australia)
Many Peaks’ Queensland assets total 1,080 square kilometres with promising geological formations indicating intrusion-related gold systems and copper-gold porphyry style mineralization.
Projects:
- Mt. Weary Gold: The Mt. Weary project has drill-ready targets throughout the 3.5-kilometre gold anomaly at the surface. Additionally, drill-proven gold mineralization is already in 600 metres of surface anomalies. Previous drill results indicate up to 6.24 grams per ton (g/t) of gold.
- Monal Gold: As a historical gold field known for hosting high-grade gold mineralization, the Monal Gold project covers an extensive corridor of underground surface workings.
- Rawlins Gold-Copper: The copper-gold porphyry style project contains a newly defined copper-gold target with promising exploration results. The asset is near existing projects that have already produced high-grade copper, gold, and silver assays.
- Mt. Steadman Gold Project: The Mt. Steadman project is a 56-square-kilometre holding, comprising two granted exploration permits, covering an intrusion-related gold (IRG) system situated in the New England Orogenic Province, 30 kilometres northwest of Biggenden, Queensland. The project hosts several outcropping zones of gold mineralization associated with shear-hosted quartz and broad zones of sheeted quartz veining. Drilling by Many Peaks at Mt. Steadman identified a significant extension to shallow gold mineralisation confirmed in previous drilling, with recent results returning 8 metres @ 2.63 g/t gold from 8 metres depth. Continued mapping and surface sampling on the recently identified N-21 target outlines an intrusive breccia target associated with recent extensions to surface gold anomalism.
Newfoundland (Canada)
Aska Lithium
Many Peaks’ 100-percent-owned Aska project is approximately 45 kilometres east of Cape Ray, Newfoundland. The project covers 193 square kilometres in proven lithium terrane and is situated in a growing lithium district known to host lithium-caesium-tantalum type pegmatites.
Management Team
Travis Schwertfeger - Executive Chairman
Travis Schwertfeger is a geologist with over 25 years’ global industry experience primarily in gold and copper projects across Africa, Australia, Africa and the Americas. Schwertfeger has previously held several technical roles in exploration and production, including over seven years operating in West Africa with Newmont Mining and other ASX listed explorers. He has prior experience as a director of ASX-listed mineral resource companies through previous roles, including a former role with Exore Resources (acquired by Perseus in September 2020 for ~A$80m).
Ben Phillips - Non-executive Director
Ben Phillips has more than 15 years of experience in commercial negotiations and has worked in several industries, including oil and gas, resource, technology and defence. He provides advise on a wide range of operational aspects, from R&D and exploration to production, commercialization and sales. Phillips is the executive chairman of Norfolk Metals (ASX:NFL), was previously a non-executive director at Bronson Group (ASX:BGR) and, subsequently, Mandrake Resources (ASX:MAN). He is currently a corporate executive at Ironside, focused on sourcing, structuring, funding and management requirements for public and private small-cap companies.
Marcus Harden - Independent Non-executive Director
Marcus Harden is a geologist with extensive gold and base metals exploration and management experience throughout Australia, Africa, Asia and the Americas. Harden's more recent roles include chief geologist of AuTECO Minerals, head of regional exploration for Bellevue Gold, chief geologist of Alicanto Minerals Ltd, and other senior exploration roles with Gryphon Minerals and First Quantum Minerals. He has played key roles in the discovery and definition of several gold deposits globally with ASX-listed junior companies. Among previous projects with contributions to discovery, three are currently operating mines and one is in development. He is also a member of The Australian Institute of Geoscientists.
Aaron Bertolatti - Company Secretary
Aaron Bertolatti is a chartered accountant and company secretary with more than 10 years of experience in the mining industry and accounting profession. Bertolatti has significant experience in the administration of ASX-listed companies, corporate governance and corporate finance.
Kirgella Gift and Providence: First Inferred Mineral Resource Estimate of 76,400 oz Au from only 3m depth
Highlights
- First Inferred Mineral Resource Estimate for Kirgella Gift and Providence of: 2.34 Mt @ 1.0 g/t Au for 76,400 oz at a 0.5 g/t gold cut-off from only 3m depth.
- Gold mineralisation remains open at depth and along strike between Kirgella Gift and Providence:
- Potential for significant resource growth and upgrade following additional drilling to expand on unclassified blocks outside current model limits.
- Highly economic discovery with KalGold’s direct exploration expenditure cost (drilling and assay) of only ~A$4.20 per gold ounce.
- KalGold’s Total Mineral Resource base, comprising this new resource from the Pinjin Project, and the La Mascotte deposit at Bulong Taurus (see ASX: KAL 7th March 2023), now stands at 214,300 oz.
- Elevated gold price of over A$3,600/oz continues to drive interest in mineable gold projects.
KalGold Managing Director and CEO Matt Painter said:
“KalGold is proud to report the first Mineral Resource Estimate at the Kirgella Gift and Providence gold deposits. It totals ~76,000 oz defined at over 1.0 g/t Au from only 3m depth, remains open in several directions, and is considered the first step in defining the full potential of the Kirgella Gift and Providence gold deposits. Pleasingly, we have defined a shallow gold resource at a very low cost to the Company of around A$4.20 per gold ounce.
The Kirgella and Providence mineral resource estimate is comparable to other deposits within the Laverton Tectonic Zone and is considered typical of the region. This is particularly true of some of the constituent deposits at Ramelius Resources’ (ASX:RMS) Rebecca Gold Project, around 20 km to the south along strike.
KalGold now has defined a total resource base of 214,300 oz of gold. The increased resource base enables KalGold to commence high level mining optimisation studies to assess pathways to production. KalGold looks forward to continuing to progress its work in the Pinjin area with the aim of significantly growing this initial JORC Code (2012) resource and defining a suite of additional shallow resources.”
First Gold MRE at KalGold’s Pinjin Project
The Inferred MRE of 2.34 Mt @ 1.0 g/t Au for 76,400 oz Au has been defined at a 0.5 g/t gold cut-off from the Company’s recent drill focus on the shallow portion of the Kirgella Gift and adjacent Providence gold deposits (see Table 1), combined with thoroughly validated historic datasets. Work continues on both deposits, with gold mineralisation open at depth and along strike between the two. This MRE is expected to form the basis of future updates as drilling and exploration continues.
Table 1 – Kirgella Gift and Providence Mineral Resource at a 0.5 g/t gold cut-off Note totals may not sum due to rounding.Click here for the full ASX Release
This article includes content from Kalgoorlie Gold Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Acquisition of Mubende Gold Project, Uganda
HIGHLIGHTS
- The granted exploration license EL00379 covers 202 square kilometres in the Mubende region west of Kampala and includes the highly prospective Bukuya prospect.
- The Bukuya prospect is currently being mined by 60-80 artisanal workers over 600 metres of prospective strike and remains open along strike and at depth.
- Rock chip samples taken from a recent site visit to the Bukuya prospect by consultant geologists returned numerous specimens containing visible gold in both ferro-manganese and quartz veins.
- Experienced in-country technical team appointed including Mr Dylan le Roux and Mr Allan Agumya to manage exploration activities.
- Field activities scheduled to commence 05 August 2024.
Commenting on the acquisition Managing Director Mr Mathew Walker stated, “We are delighted to have secured a significant land holding that has prospectivity confirmed by a strong presence of artisanal mining activity. Uganda has a well established gold mining industry and regulatory protocols that add to the appeal of the acquisition. We look forward to the commencement of field activities in the immediate term.”
MUBENDE GOLD PROJECT
The Mubende Gold Project is an extensive landholding of 202 square kilometers that covers a series of metasediments, predominantly characterized by meta-wacke’s and phyllitic slates, with occasional interbedded quartzite units and mafic volcanics. Late-stage granites have intruded the metasediments, mainly in the southern part of the license.
Figure 1: Regional Map with locations of Sifang licenses.
At the Bukuya prospect, wall rock consists of metapelitic units with vertical foliation trending NW in most shafts, turning EW in the northern artisanal shafts. Mineralization appears confined to a deformation zone within the metapelites and hosts three subsets of veins exploited by artisanal workers. The first subset includes quartz veins with hematite mineralization, iron-oxide staining, and goethite/limonite-filled vugs, seen in southern shafts with NW trending foliation. The second subset comprises metallic veins of blueish-grey and black ferro-manganese mineralisation with botryoidal textures and specular hematite, found in northern shafts with EW trending foliation. The third set comprises massive milky white quartz veins.
These veins are described in more detail below.
Type 1 (Iron-rich quartz veins): These are quartz veins that show varying degrees of ferro(-manganese) mineralisation. Mineralisation occurs as hematite (red), specular hematite (dark silver/black), and a lesser degree of manganese (botryoidal, blue-grey to black). Vugs filled with limonitic material is often seen in these veins and is interpreted to represent leached out sulphides. These veins are seen in the SE of the Bukuya site. They are typically decimetre to metre scale and are foliation concordant (vertical to subvertical with dominantly NW trend).
Click here for the full ASX Release
This article includes content from eMetals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Many Peaks Minerals Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects