1.3 Moz Maiden Resource at US$8/oz Discovery Cost in Côte d'Ivoire

Many Peaks Minerals (ASX:MPK) just released a 1.3 Moz maiden gold resource delivered for A$11/oz discovery cost — only 13 months after the first drill assay.

Pulse Intelligence reviewed the details:

• Ouarigue (Ferké, Côte d'Ivoire) maiden MRE: 26.7 Mt @ 1.54 g/t Au for 1.323 Moz — 0.38 g/t cut-off
• Confidence: Measured 398 koz + Indicated 700 koz + Inferred 225 koz → 83% in M&I on day one. Unusually front-loaded for a maiden.
• Discovery cost: ~US$8/oz (A$11/oz) inclusive of acquisition
• Geometry: up to 95 m true-width mineralised zone, averaging ~2,320 oz per vertical metre down to 540 m. Deposit remains open at depth and along the 37 km Leraba corridor.
• Operator snapshot: A$9.6M cash at 31 March, market cap ~US$125M, stock +68% since late March ahead of the release. PFS targeted CYQ4 2026.

Côte d'Ivoire sits mid-pack on grade among producing mines. Ferké's 1.54 g/t lands right there with the country's operating asset base. What is missing is scale: 26.7 Mt vs. Ity at 89.5 Mt or Yaoure at 54 Mt. That is the resource-growth story drilling is now aimed at.

Comparable assets (Ivory Coast gold, M&I + Inferred):

• Many Peaks Minerals Ferké Ouarigue — 1.32 Moz @ 1.54 g/t (maiden)
• Seguela (Fortuna Mining) — ~1.20 Moz @ 2.5–2.78 g/t
• Tongon (Barrick, 2023) — ~1.70 Moz @ 2.4 g/t Inferred
• Bonikro (Allied Gold/Zijin) — ~2.15 Moz @ 1.30 g/t
• Assafou (Endeavour Mining, development) — ~4.67 Moz @ ~1.97 g/t

83% M&I at a maiden is the takeout-ready signature. At 1.3 Moz the asset is too small for a senior to pay up today, but the 37 km corridor plus the shape of the ore body is exactly what West African mid-tiers — Perseus Mining, Resolute Mining, West African Resources, Endeavour Mining and Zijin after its Allied Gold acquisition — build their M&A pipelines from.

Next catalyst is the CYQ4 PFS; if scale converges on 2 Moz+ and grade holds, this becomes a credible mid-tier target. Less searching. More strategising.™