MANY PEAKS MINERALS TO ACQUIRE ADVANCED GOLD PROJECTS IN COTE D’IVOIRE

Strategic Acquisition to Enhance Exploration and Development Potential

Many Peaks Minerals Ltd (ASX:MPK) has announced a significant move in its growth strategy by entering into a binding Share Sale Agreement with Turaco Gold Limited to acquire 100% interest in a joint venture that includes advanced gold projects in Cote d’Ivoire.

Acquisition Highlights:

  • The agreement allows Many Peaks to gain full ownership of the joint venture entity CDI Holdings, consolidating both Turaco and Predictive Discovery Limited’s interests.
  • The acquisition covers an expansive 1,275km² land package across four mineral permits, including the promising Ferke Gold Project and the Odienne Project, aligning with new gold discoveries.
  • Over US$4m in previous exploration efforts have underscored the projects’ high-grade potential, with standout assays such as 35.95m @ 3.88 g/t gold at Ferke and significant mineralization over a 1,200m strike at Odienne.

Project Overviews:

  • Ferke Gold Project: Showcases a 16km mineralized trend with previous diamond drilling confirming new discoveries like the Ouarigue South prospect, featuring high-grade intersections ready for follow-up.
  • Odienne Project: Positioned within a high-strain corridor, this project is on-trend with significant nearby discoveries and has demonstrated a continuous zone of mineralization in initial drilling.

Strategic Implications:

  • The acquisition is set to significantly enhance Many Peaks’ exploration footprint in Cote d’Ivoire, offering near-term resource potential thanks to the extensive groundwork already laid by over US$4m of previous exploration expenditure.
  • Many Peaks will also inherit a 1% net smelter return royalty to Resolute (Treasury) Pty Ltd, marking a comprehensive agreement that positions the company for accelerated growth and development in West Africa’s promising gold corridors.

Executive Insight:

Travis Schwertfeger, Executive Chairman of Many Peaks, remarked on the acquisition:

The Ferke and Odienne Projects in Cote d’Ivoire deliver Many Peaks a strong foundation of exploration success in Cote d’Ivoire with the potential to build significant highgrade ounces in the near term. Both projects are already covered with systematic geochemical coverage and high resolution geophysics, which have led to demonstrated gold mineralisation confirmed in drilling. Leveraging over US$4m of previous expenditure in recent years has generated multiple targets ready for follow-up, including extension targets, providing Many Peaks with a transformational acquisition with near-term resource potential viable.

Our team has a depth of West African operating experience tied to multiple discovery and development projects over the past 15 years, and our technical team looks forward to operating in Cote d’Ivoire again. Over recent years, it has emerged as a premier jurisdiction within West Africa to operate in, with several recent exploration and development successes.


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