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![Many Peaks Gold (ASX:MPG)](https://investingnews.com/media-library/many-peaks-gold-asx-mpg.png?id=33526734&width=1200&height=796)
Many Peaks Gold: Exploring Mining-friendly Jurisdictions to Meet Growing Demand for Critical Minerals
Many Peaks (ASX:MPK) capitalizes on Australia’s and Canada’s ongoing push to strengthen domestic critical mineral production by advancing its gold-copper assets in Queensland, Australia, and other key energy transition projects in Newfoundland and Labrador, Canada.
Many Peaks’ Canadian assets target REE and lithium deposits where Newfoundland represents an emerging district of lithium strategically positioned with access to both European and North American markets. The company’s REE project has not been previously drilled but has a defined, drill-ready target with the potential for a significant REE deposit.
The company’s assets in Queensland, meanwhile, cover a combined 464 square kilometers, with an 80 percent interest and an option over the remaining 20 percent. The company’s Australian portfolio has an excellent existing infrastructure and is host to intrusion-related gold systems and copper-gold porphyry style mineralization. The presence of copper allows these assets to meet the growing demand for the critical mineral, while gold creates additional value.
A management team with a range of experience throughout the natural resources industry leads the company toward achieving its goals of strengthening shareholder value through exploration.
Company Highlights
- Many Peaks is a mineral exploration company with assets in Australia and Canada.
- The company’s assets include several drill-ready targets focusing on minerals necessary for the transition to clean energy.
- Many Peaks aims to capitalize on both countries' push to strengthen domestic sources of critical minerals, while gold further improves the value of its assets.
- Both countries have mining-friendly regulations and the potential for future incentives to help bolster the domestic supply of lithium, copper and REEs.
- Many Peaks owns two critical minerals assets in Newfoundland and Labrador, Canada, and an extensive portfolio of copper-gold assets in Australia.
- The company’s Queensland assets cover a combined 464 square kilometers with several drill-ready copper-gold targets.
- An expert management team with extensive experience throughout the natural resources industry leads the team toward fully exploring its assets.
This Many Peaks profile is part of a paid investor education campaign.*
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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.
Maiden Mukinbudin Quartz Processing Testwork Achieves Premium HPQ Product
Industrial Minerals Ltd (ASX: IND or the Company) is pleased to announce that it has received results from High Purity Ǫuartz Processing Testwork1 completed by North Carolina State University’s Mineral Research Laboratory (“NCSU-MRL”).
Highlights
- Exceptional Processing Testwork results received from North Carolina State University’s Mineral Research Laboratory (NCSU-MRL), an industry leading independent High Purity Ǫuartz lab.
- Ǫuartz sample T1-C, a maiden sample from the Mukinbudin Project, achieved >99.991% SiO2 from a simple processing flow sheet that included attrition, flotation and magnetic separation treatment, opening opportunities for early stage offtake.
- All samples sent to NCSU-MRL, from both Pippingarra and Mukinbudin demonstrated outstanding purity levels, confirming the exciting potential of IND’s quartz deposits and their suitability for high-end applications.
- In parallel with the numerous ongoing offtake discussions and ongoing end customer testing, IND now plans to undertake further comprehensive independent testwork at leading industrial minerals consultancy ANZAPLAN in Germany to further assist in finalising product offtake.
IND is exploring for High Purity Ǫuartz (“HPǪ”) at several of its projects in Western Australia, and the testwork was completed on samples from IND’s Pippingarra Ǫuarry Project and Mukinbudin Ǫuartz/Feldspar Project.
Jeff Sweet, Managing Director of Industrial Minerals, commented:
“We are extremely encouraged by achieving +99.99% SiO2 purity through to the acid leaching stage of our process testwork. These results are incredibly promising for our HPǪ production. With calcination and hot chlorination stages yet to be tested, we anticipate even greater purity levels can be achieved. This progress underscores our confidence in achieving premium quality in our final product.
“The Mukinbudin quartz was purified to 99.991% SiO2 through magnetic separation and flotation process work alone. This simple flowsheet will allow IND to pursue early-stage offtake opportunities into a broader range of HPǪ applications.
“Given the large price differential at the premium end of the HPǪ market as illustrated in Figure 1, IND’s ultimate goal is to now test the maximum purity level achievable across the Company’s quartz projects with the aim to be a recognised long term supplier of quality HPǪ products.”
Figure 1: High Purity Ǫuartz raw ore pricing CIF China based on industry feedback2
Processing Testwork Results
North Carolina State University’s Minerals Research Laboratory is a world leader in research, development and implementation of mineral processing techniques. The main focus of NCSU- MRL’s research is the beneficiation of industrial minerals.
Ǫuartz Ore Samples
IND sent three 20kg quartz ore samples to NCSU-MRL for the purpose of assessing the potential to use as feedstock for the production of High Purity Ǫuartz. Test samples T1_A and T1-B were sourced from IND’s Pippingarra Ǫuarry Project (Figure 2) and test sample T1_C was sourced from the Mukinbudin Project (Figure 3).
Click here for the full ASX Release
This article includes content from Industrial Minerals 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.
Quarterly Appendix 5B Cash Flow Report
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to release its Quarterly Cash Flow Report for the period ended June 30, 2024.
Click here for the full ASX Release
This article includes content from Auric Mining, 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.
Quarterly Activities Report 30 June 2024
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to report on its activities during the 30 June 2024 Quarter.
Highlights
Jeffreys Find Gold Mine
- First Gold Processing Campaign Completed: Commenced in mid-April 2024, processing approximately 30,300 tonnes of ore and producing six doré bars weighing 64.68 kg, generating $4.46 million in revenue for the Joint Venture with milling at Greenfields Mill in Coolgardie.
- Stage 2 Mining: Stage 2 aims to extract a minimum of 300,000 tonnes of ore in 2024/2025, with round-the-clock operations using larger equipment to double the 2023 output.
- Grade Control Completed: Grade control drilling on an initial 10m x 10m pattern was completed and mine planning progressed substantially, with detailed mine planning underway.
Spargoville Gold Project
- Drill Results: On 4 June 2024, results from a six-hole RC drilling program have outlined a large and prospective basement gold target beneath shallow mineralisation in weathered rock.
- The company reported a strong financial position with $3.4 million in cash at the end of the quarter.
- Completion of the 31 March 2024 option issue and finalise issue of all shares.
- Current issued share capital is now 148,553,371 shares.
Managing Director, Mark English said: “We have advanced the mining at Jeffreys Find Gold Mine. BML have been excellent partners and miners. From Auric’s perspective everything at Jeffreys Find is going according to plan. The substantial increase in the gold price is truly “icing on the cake”.
“We completed a lot of work at Munda on the technical matters to advance this project. In addition, we completed a Heritage Survey with the Marlinyu Ghoorlie traditional owners to clear the development area for the haul road. Another specific piece of work that had to be completed.
“We undertook a RC drilling program at our Fugitive Prospect at Spargoville. The geologists see potential similarities to the Wattle Dam deposit 8km to south and have planned further drilling to test the concept.
“We held our Annual General Meeting on the 24 May 2024. This was well attended with over 20 people at the meeting. All resolutions put to the meeting were passed,” said Mr English.
Click here for the full ASX Release
This article includes content from Auric Mining, 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.
Quarterly Report - Quarter Ending in 30 June 2024
Miramar Resources Limited (ASX:M2R, Miramar or “the Company”) is pleased to provide a summary of activities completed during the Quarter ending 30 June 2024.
〉Gidji JV
- IP Survey highlights potential extension(s) to 8 Mile Dam gold deposit
〉Randalls
- New tenement applications along Randall Fault
〉Bangemall Ni-Cu-Co-PGE Projects
- Exploration Incentive Scheme (EIS) funding approval and preparations for maiden drilling campaign at Mt Vernon and Trouble Bore
〉Whaleshark
- Passive seismic survey maps basement depth across Project
- Large magnetite Exploration Target outlined
〉Corporate/Financial
- Placement raises $446,000 and Entitlement Offer Announced
- 2023 EIS funding and Research and Development tax refund received
During the Quarter, the Company completed exploration activities across various projects in the Eastern Goldfields and Gascoyne regions of Western Australia and continued preparing for the maiden drill campaign within its Bangemall Projects.
An IP Survey within the Gidji JV Project increased the likelihood of a northern extension to the 313koz 8 Mile Dam gold deposit, offset by faulting.
The Company completed a passive seismic survey to map basement depth and outlined a very large magnetite Exploration Target at Whaleshark.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was looking forward to completing the first drill campaign at Mount Vernon and Trouble Bore, targeting Norilsk-style Ni-Cu-Co-PGE mineralisation.
“We are exploring for mineralisation similar to the giant Norilsk-Talnakh deposits in Siberia, the largest and most valuable nickel deposits in the world,” he said.
“In addition, we have a number of highly prospective but underexplored gold projects in the world-class Eastern Goldfields Province, any of which could host a significant gold deposit,” he added.
Click here for the full ASX Release
This article includes content from Miramar Resources, 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.
Jeffreys Find Gold Mine Toll Milling of 150,000 Tonnes Commenced, Second 2024 Campaign
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce the second gold milling campaign for 2024 of 150,000 dry metric tonnes from the Jeffreys Find Gold Mine (the Project) near Norseman, WA, commenced on 24 July 2024.
- Processing of 150,000 tonnes commenced at Greenfields Mill.
- 75,600 tonnes on ROM Pad at Greenfields as of 23 July 2024.
- Second campaign expected to finish early September 2024.
- On target to process 300,000 tonnes at Greenfields Mill in 2024/2025.
- BML expects to mine well in excess of 300,000 tonnes in 2024/2025.
- First cash distributions to Auric this quarter.
MANAGEMENT COMMENT
Managing Director, Mark English, said: “We have the good fortune of pouring gold just as the price firms. It happened last year when the price went to $3,000 an ounce, this year it’s around $3,600 an ounce.
“The ever increasing gold price will result in Auric and our joint venture partner generating cash surpluses well in excess of what we had budgeted and anticipated.
“150,000 tonnes is a sizeable parcel of ore for this campaign. While it will take six weeks or so to mill, we expect it to generate well in excess of $25 million through gold sales for the joint venture.
“The mill contract is to process 300,000 tonnes in 2024. This 150,000 tonnes parcel will be the largest for Stage 2 of mining of Jeffreys Find. That leaves an additional 120,000 tonnes for milling at Greenfields towards the end of 2024.
“Jeffreys Find will be a substantial cash producer for Auric in 2024. We are on target to receive our first distribution within about a month.” said Mr English.
The Jeffreys Find Pit as of 16 July 2024
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This article includes content from Auric Mining, 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.
Viani - Low Sulphidation Epithermal Gold Project License Renewed
Advanced gold and copper explorer, Alice Queen Limited (ASX:AQX) (Alice Queen or the Company), is pleased to advise that it has received notification from the Mineral Resources Department (MRD) of Fiji that its highly prospective low sulphidation epithermal (LSE) gold project, Viani (SPL1513) located on the Pacific Rim of Fire, on Fiji’s second biggest island Vanua Levu, has been renewed for a further three years, commencing on 3 July 2024.
Highlights
- MRD notified Alice Queen on Friday 19 July 2024 via email that its Viani license (SPL1513) has been renewed for a further three years with effect from Wednesday 3 July 2024.
- Viani, located on the Pacific Rim of Fire on Vanua Levu in Fiji, covers an area greater than 200km2 and is largely under explored (see Figures 1 and 2).
- The Dakuniba prospect within Viani has been previously sampled where epithermal gold mineralisation has been recorded in outcrop samples over a >3km strike length.
- Multiple epithermal veins within the Dakuniba prospect area, 5km by 1.5km surface gold-in- soil geochemical anomaly - the footprint of the epithermal mineralisation is comparable to other economically productive gold epithermal deposits globally.
- Previous drilling by Japanese International Cooperation Agency (JICA) in 1997 focused on a small, shallow part of the overall system and intersected high grade epithermal gold mineralisation.
- (Hole MJFV-5 (see Figure 3) over 6 vein zones at 50 to 100m below surface with best results, 0.6m @ 27.6 g/t Au & 900 g/t Ag and 0.4m @ 11.7 g/t Au1 and remains open in all directions.
- The JICA drilling was limited to only 600m of strike-length of the 5km long gold-in-soil anomaly (>10ppb Au) supported by epithermal geochemistry i.e., Ag and As.
- Based on discovery knowledge from epithermal systems worldwide, it is apparent the historical drilling was an inadequate test of the Viani gold system.
Alice Queen’s Managing Director, Andrew Buxton said,
We are delighted the SPL1513 license has been renewed for a further three years and look forward to continuing to work alongside the Fiji Mineral Resources Department as we commence our next phase of exploration activities. The Viani Gold Project is a tremendous prospect which has demonstrated it has the potential to become a significant epithermal system. With the license now renewed and the Company fully funded for its Fiji exploration plans, Alice Queen will continue the systematic exploration of the Viani Gold Project with the Company having commenced planning for its upcoming exploration programs.
Viani
Figure 1. Fiji Project locations.
Figure 2. Location of the Dakuniba Prospect in relation with SPL1513.
The Viani project (SPL1513) covers an area greater than 200km2 on the Caukadrove Peninsula on the Pacific Rim of Fire, Vanua Levu, Fiji. It is well serviced from Savu Savu on Vanua Levu and is highly prospective for a high-grade LSE gold system (see ASX releases 2 December 2022, “VIANI UPDATE” and 6 March 2023, “ALICE QUEEN UPGRADES VIANI EPITHERMAL PROJECT”.
Following a renewal process for Viani (SPL1513) which the Company commenced earlier this year (including as announced in the Quarterly Activities Report released to ASX on 23 April 2024), MRD notified Alice Queen on Friday 19 July 2024 that the license had been renewed with effect from Wednesday 3 July 2024 for a further three years. The renewed license includes typical terms for a license of this nature, including minimum work program and expenditure requirements.
Whilst the greater project area remains under explored, extensive sampling, trenching and (historic) limited drilling of the Dakuniba prospect area has been previously completed.
Previous drilling by JICA in 1997 returned multiple epithermal gold intersections in shallow drilling. Hole MJFV-5 (see Figure 2) intersected 6 vein zones at 50 to 100m below surface (best results include 0.6m @ 27.6ppm Au & 900ppm Ag, 0.4m @ 11.7ppm Au & 4.3ppm Ag)1. The JICA drilling was limited to only 600m of strike-length of the 5km long gold-in-soil anomaly (>10ppb Au) supported by epithermal geochemistry i.e., Ag and As.
Further details in relation to upcoming exploration plans at Viani will be announced in due course.
Click here for the full ASX Release
This article includes content from Alice Queen 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.
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