KEY POINTS
- Many Peaks Minerals says diamond core drilling at its Ferke project in Cote d’Ivoire hit mineralisation beyond 900 metres deep, pointing to underground potential.
- The result builds on a maiden gold resource declared earlier this year and the company’s Ouarigue prospect, flagged as a potentially significant discovery.
- The deep intercept is an early signal, not a defined deposit; more drilling is needed to establish grade, continuity and viability.
Australian-listed gold explorer Many Peaks Minerals is talking up the underground potential of its Ferke project in Cote d’Ivoire, after diamond core drilling struck mineralisation more than 900 metres below surface.
The company said the deep intersection points to an emerging underground opportunity at Ferke, a project that has increasingly drawn attention as its drilling campaign advances. Notably, the depth of the latest hit suggests the mineralised system extends well beyond the near-surface zones that explorers typically chase first. Consequently, Many Peaks is now framing Ferke as more than a shallow, open-pit prospect.
Building the case at Ferke
The result adds to a steady run of news from the project. Earlier this year, Many Peaks declared a maiden gold resource at Ferke and flagged its Ouarigue prospect as a potentially significant discovery. Furthermore, a series of drill hits has kept the explorer in the spotlight while investors await further definition of the resource.
Deep drilling changes the conversation. Specifically, mineralisation at more than 900 metres raises the prospect of an underground mine that could sit alongside or beneath any open-pit operation. However, intersecting ore at depth is only a first step, and the company still needs more drilling to gauge grade, continuity and economic viability.
What comes next
The focus now shifts to follow-up work. Additionally, Many Peaks will likely target further deep holes to test how far the system continues and whether it holds together at depth. Meanwhile, the maiden resource gives the market a baseline against which to measure any expansion.
At this stage, the underground angle remains an opportunity rather than a defined deposit. Ultimately, Ferke’s value will hinge on whether Many Peaks can convert promising deep intercepts into a resource large and consistent enough to justify the added complexity and cost of mining underground in Cote d’Ivoire.
