Many Peaks Minerals Limited (ASX:MPK) (Many Peaks or the Company) is pleased to announce assay results for the Company’s reconnaissance exploration campaign at the Odienné Project in Côte d’Ivoire. This program comprised 7,741m of auger sampling, and 1,069m of diamond drilling at Odienné South, which covers a 30km extent of the prolific Sassandra Fault corridor. This corridor trends through the adjoining Awalé/Newmont JV project host to recent discovery drilling, and northwest to Predictive Discovery’s 5.4Moz gold deposit.
Highlights:
Auger results highlight existing high priority targets, and additional new targets within the high strain Archean margin (Sassandra Fault) in northwest Côte d’IvoireNewly defined 4km gold anomaly identified at ‘Zone C’ peripheral to previous soil anomalyReconnaissance diamond drill holes into the 758km2 Odienné Project confirm presence of extensive shearing coincident with gold mineralisation and favourable alterationDrilling to commence at Odienné and Ferke projects over the next two months
Auger drilling has delineated priority targets within zones A, B and C totalling >16km of shear zone within the corridor for staged follow-up exploration (Figure 1). With receipt of additional auger assays pending and integration of results with geophysical and mapping datasets, air core drilling to oxidation base in fences 400m apart will be drilled over Q4 post wet season to evaluate.
Concurrently, a reconnaissance diamond drill test targeted a favourable structural contact between igneous and sedimentary units identified in previous results. The maiden drill test did confirm low-level gold results throughout the 800m extent drilled within the 6km Zone A target zones, highlighting a coherent mineralised structure. However, visually the core indicates the targeted igneous body is a late intrusive into the existing structure and is now interpreted to post-date a gold mineralising event. Follow-up along strike to identify a more favourable lithologic and structural setting to focus gold mineralisation.
Many Peaks’ Executive Chairman, Travis Schwertfeger commented:
“With receipt of our first set of assay results from our maiden program at Odienné, we are encouraged to see continuity of mineralisation through multiple lines of auger drilling. This further highlights the discovery potential at Odienné as the company consistently vectors in on more discrete targets with each step in the exploration process. While the diamond assay results are not high grade, they are significant, and the combined results from auger and diamond drilling mark a significant step towards a discovery at the Odienné South permit”.
“We are very pleased with the achievements of our exploration team, and the results of the June-July campaigns across Odienné. Having successfully executed a significant amount of work so quickly on the heels of completing our project acquisition the Company is well positioned for aggressive and targeted drilling going into the upcoming field season in Côte d’Ivoire”.
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