Significant acquisitions of projects in some of the most prolific gold districts of Côte d’Ivoire, West Africa, position Many Peaks for significant discoveries, giving the stock a compelling investment case.
Many Peaks (ASX:MPK) is an Australia-based mineral exploration company with gold assets in Côte d’Ivoire, West Africa, and exposure to key energy transition assets in Newfoundland, Canada. With drill-ready targets across its projects, Many Peaks aims to realise growth and value creation through exploration discovery and near-term mineral resource definition.
In West Africa, the company is focused on four recent acquisitions in Côte d’Ivoire totaling 1,919 square kilometres, including the more advanced-stage Odienné and Ferké gold projects with recent gold discoveries and more than US$4 million in previous exploration expenditures.
The company acquired a portfolio of three projects from Turaco Gold Ltd in May 2024, consolidating interests held in the projects by Turaco and Predictive Discovery Ltd. The Company’s establishment into one of the fastest growing gold regions in the world was quickly followed with a binding agreement securing an exclusive option to acquire a 100 percent interest in the Baga gold project, which comprises two permits totaling 644 square kilometres in eastern Côte d’Ivoire.
Many Peaks’ Canadian asset targets the 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.
Many Peaks’ assets in Côte d’Ivoire comprise four projects – Odienné, Ferké, Baga and Oumé.
Located in northwest Côte 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.
Odienné Project location in the context of Siguiri Basin geology compilation and gold project locations regionally
Auger drilling in early 2023 defined coherent gold in saprolite anomalism, which prompted a maiden air core drilling campaign in late 2023.
Many Peaks has followed up 2023 success with aggressive exploration, expanding the project’s auger drilling coverage within weeks of acquisition. Systematic coverage of auger has succesfully defined three prioritised targets extending across more than 16 kilometres of a 30-kilometre gold anomaly.
The company is now well positioned for follow-up air core and diamond drilling campaigns to further define confirmed gold mineralisation on the project over the coming 2024-25 field season.
Located in northern Côte d’Ivoire, the Ferké gold project covers 300 square kilometres within a single granted exploration licence. Ferké is situated on the eastern margin of the Daloa greenstone belt at the intersection of major regional scale shear zones.
Ferké Gold Project outline with drill collar locations, including the location of the Ouarigue discovery within the >16km Leraba Gold Trend
Initial exploration work conducted at Ferké defined a more than 16-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 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.
Baga and Oumé project locations on generalised regional scale geology interpretation
The Baga gold project is a 644 sq km landholding comprising two granted permits in Côte d’Ivoire. The project is located 150 km east of the city of Bouaké and covers an underexplored region of structural complexity located just 21 km east of a recent greenfields gold discovery by Endeavour Mining, which over the past three years rapidly defined the 4.5 Moz Assafou gold resource estimate within their Tanda-Iguela permit areas.
Within weeks of securing the option to acquire a 100 percent interest in Baga, Many Peaks has completed the first surface geochemical campaign covering the project area.
The permits are situated where the southern extent of the Duango-Fitini shear zone in Côte d’Ivoire’s north forms a flexure or structural splay into the Oumé-Fetekro parallel shears within Birimian metasediments and metavolcanics. At this change of orientation in structures within the Birimian terrane the Baga project area also covers the intersection, or truncation of the Bui Belt structural trend which hosts Tarkwaiian sediments and conglomerate units extending east and northeast into central Ghana. Baga Gold represents a highly prospective area to advance exploration activity by Many Peaks.
The Oumé project is an early-stage exploration asset located in south-central Côte D’Ivoire. It comprises a single exploration permit (the Beriaboukro licence) and is situated on the Oumé-Fetekro belt, historically one of Côte d’Ivoire’s most productive greenstone belts. The area is host to Allied Gold’s 2.5 million-ounce (Moz) Bonikro, the 1.9 Moz Agbaou gold deposit and Endeavour’s 3 Moz Lafigué gold project.
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.
Travis Schwertfeger is a geologist with over 25 years of 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 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 advice 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 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 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.
(TheNewswire)
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VANCOUVER, BRITISH COLUMBIA, January 29, 2025 TheNewswire - (TSXV: PINN; OTC:NRGOF; Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to provide an update on the proposed acquisition of a staged option to acquire up to a 100% interest, subject to a 2% NSR, in the Potrero gold-silver project in Durango, Mexico, as announced in Pinnacle news release of Oct. 28, 2024 .
As the proposed acquisition is subject to TSX Venture Exchange (the "TSXV") acceptance and the transaction is considered by the TSXV to be a "Fundamental Acquisition", Section 3.5 of Exchange Policy 3.3 requires regular updates on the progress of the transaction.
As the original Letter of Intent provided for a three-month period to conduct due diligence and sign a Definitive Agreement (the "DA"), the Company and the vendor have signed an extension until February 21, 2025 to complete the DA and allow time for a review by the TSXV. All technical due diligence has been completed, and the requisite NI 43-101 Technical Report has been reviewed and deemed suitable for filing by the TSXV, with the final executed version to be submitted prior to closing. Initial comments regarding the Title Opinion have been addressed and a revised version has been submitted for review. The preparation of the DA is in the final stages and the concurrent financing is almost complete. There is no change to the terms of the financing. Subject to the review process and final acceptance by the TSXV, the Company anticipates that the transaction, including the financing, should close by mid-February.
ABOUT PINNACLE SILVER AND GOLD CORP.
Pinnacle is focused on district-scale exploration for precious metals in the Americas. In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon . The addition of the high-grade Potrero gold-silver project in Mexico's Sierra Madre Belt will complement the project portfolio and provide the potential for near-term production . With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.
Signed: "Robert Archer" President & CEO
FOR FURTHER INFORMATION CONTACT:
Email: info@pinnaclesilverandgold.com Tel.: +1-877-271-5886 ext. 110
Website: www.pinnaclesilverandgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Copyright (c) 2025 TheNewswire - All rights reserved.
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Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) (" Quimbaya Gold " or the " Company ") is pleased to announce the results of a rock sampling program conducted on the Tahami North project in Segovia, Colombia . These results include rock samples grading up to 5.86 gt gold and 133 gt silver along a new 2km trending vein system. The targeted veins trend to the North-West within the Company's claims. This represents a significant advancement in the understanding of the potential of these goldsilver vein systems at Tahami North.
Highlights
Data consolidation was completed during January 2025 including a regional structural interpretation of the Digital Elevation Model and regional magnetometry geophysics, interpretation of the gold veins trend, geochemical data analysis, and database normalization (included laboratory certificates).
A follow-up exploration program has been designed to test the continuation of the gold/silver veins along the trend. This work will include geological mapping, trench design, soils and channel rock sampling programs. (figure 2).
"These results provide a strong foundation to advance the exploration program and define drilling targets along this mineralized gold-silver corridor at Tahami North," commented Mr. Alexandre P. Boivin President & CEO. "It provides us with an additional project area with new discovery potential which will complement our upcoming drilling program on our Tahami South concession located adjacent to Aris Mining's (TSX: ARIS) Segovia mining operation.
Tahami North Vein Systems
The structural interpretation of the mineralized veins is based on the 2024 results, which included mapping, rock sampling, pan concentrate sampling and geophysical analysis. Our 2025 exploration program at Tahami North will focus on defining and expanding the Au-Ag mineralized vein system along a 4.4 km potential mineralized trend.
Sample preparation and analysis
Quimbaya Gold used various laboratories to prepare and assay samples collected on the Tahami Project. These include SGS and ALS for preparation and analysis. SGS preparation and Fire Analysis in the SGS laboratory in Medellin Colombia , and SGS multi-element analysis located in Peru ; and ALS Global preparation in Medellin and ALS Global analysis located in Peru .
Samples delivered to SGS were prepared in Medellin , samples were received and labelled, dry at 100°C +- 5°C, primary crushing in a jaw crusher to 95% passing 20 mesh, secondary crushing with roll mill and slow revolution, cleaning with compressed air and quartz, with 85% passing 10 mesh, with every 10 sampled control and granulometry, riffle split coarse crushed sample in jones splitter, to extract 250 ti 500 gr; Pulverization of samples is completed in a ring mill, with >95% passing 140 sieve and cleaning with clean sand. Samples were assayed for Fire Assay for Au and aqua regia digestion for Ag in Medellin using FAA515, FAG505 and AAS12C method, and multi-element analysis in Peru using ICP40B, and AAS41B methods.
The sample preparation method at ALS comprises drying the sample at 60°C, crushing the entire sample to a target of 70% passing 2mm, rotary split off 250gr, pulverize split to a target of 85% passing g75um. Samples were assayed by ALS Peru for Fire assay to Au using Au-AA23 Au 30g, and Multi-element four acid ICP-MS using ME-MS61 method code, in line with QA/QC best practices.
Qualified Person - Ricardo Sierra BSc. Geology, MAusIMM (3078246)
The information in this report that relates to technical evaluation results, interpretation of airborne magnetic, and geochemical analysis is based on information reviewed and approved by Ricardo Sierra , VP exploration Quimbaya Gold who is a Member of the Australian Institute of Mining and Metallurgy, and is a Qualified Person as defined within the meaning of the National Instrument 43-101. Mr. Sierra has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration. Mr. Sierra consents to the inclusion of the technical evaluation results based on the information and in the form and context in which it appears.
About Tahami
The Tahami project is located nearby the municipality of Segovia in the Department of Antioquia in Colombia . It is 217 km northeast of the city of Medellin .
About Quimbaya
Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia . Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia .
Quimbaya Gold Inc.
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Cautionary Statements
Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to: any increased liquidity of the Company's stock through the additional listing or increased European investment / exposer. Although Quimbaya's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Quimbaya Gold Inc.
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