{"id":11463,"date":"2024-06-27T01:05:33","date_gmt":"2024-06-27T01:05:33","guid":{"rendered":"https:\/\/economicherald.net\/?p=11463"},"modified":"2024-06-27T01:05:33","modified_gmt":"2024-06-27T01:05:33","slug":"many-peaks-grows-gold-portfolio-in-cote-divoire-by-50pc","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11463","title":{"rendered":"Many Peaks grows gold portfolio in C\u00f4te d\u2019Ivoire by 50pc"},"content":{"rendered":"

Many Peaks agrees to purchase Baga gold project from Atlantic Resources
\nTotal landholding in C\u00f4te d\u2019Ivoire increases ~50% to 1919km2
\nSurface geochemistry programs at Baga to commence immediately<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: Many Peaks Minerals has inked a deal to purchase the Baga gold project from Atlantic Resources, adding a further 644km2 of prospective gold tenure in Cote d\u2019Ivoire to its portfolio.<\/strong><\/p>\n

That brings Many Peaks Minerals\u2019 (ASX:MPK)<\/strong><\/a> total landholding in the country up 50% to 1919km2.<\/p>\n

The move comes on the back of securing the rights to earn up to 85%<\/strong><\/a> of the nearby Ferk\u00e9, Oum\u00e9 and Odienn\u00e9 projects from Turaco Gold (ASX:TCG)<\/strong><\/a> and Predictive Discovery (ASX:PDI)<\/strong><\/a>, by agreeing to sole-fund exploration to the feasibility study stage.<\/p>\n

Gold exploration and development is accelerating in the West African nation, which has been largely underexplored for deposits compared to its neighbours Ghana, Mali and Burkina Faso.<\/p>\n

Canada\u2019s Barrick Gold and Endeavour Mining have licenses in the country, while Perseus Mining (ASX:PRU)<\/strong><\/a> already operates two mines in the country, including Yaour\u00e9, which produced close to 275,000oz at an AISC of just US$755\/oz in FY23.<\/p>\n

\u00a0<\/p>\n

Baga option agreement<\/strong><\/h2>\n

The Baga gold project is a 644km2 landholding comprised of two recently granted exploration permits ~150km east of the city of Bouak\u00e9 in Cote d\u2019Ivoire and ~80km west of the border with Ghana.<\/p>\n

Under the option agreement, MPK will pay Atlantic US$40,000 ($60,000) and 500,000 fully paid shares with a 12-month escrow. MPK can exercise the option before the end of the 24 month period via the issue of 6m additional shares.<\/p>\n

At that point it would pay Atlantic US$1 for each ounce added to the measured and indicated categories in a first mineral resource declaration capped at US$1m ($1.5m).<\/p>\n

The permits cover an underexplored region of structural complexity which are highly prospective for orogenic gold deposits.<\/p>\n

Recon mapping at Baga has identified occurrences of previously unmapped intrusions and shear corridors, with coincident alteration and sulphide minerals highlighting the prospectivity of the underexplored region.<\/p>\n

\u00a0<\/p>\n

Many Peaks\u2019 Oum\u00e9 and Baga gold projects around other major gold deposits. Pic supplied: (MPK)<\/p>\n

\u00a0<\/em><\/p>\n

\u201cHaving quickly established ourselves in C\u00f4te d\u2019Ivoire and successfully initiating exploration activity within weeks following acquisition of the exciting Odienn\u00e9 and Ferk\u00e9 projects, the company is very pleased to identify an additional opportunity further bolstering our pipeline of projects for growth within the same jurisdiction,\u201d MPK exec chair Travis Schwertfeger says.<\/p>\n

\u201cThe Baga gold project is complementary to the existing portfolio in C\u00f4te d\u2019Ivoire, providing several operational synergies delivering opportunities for an increase in positive results to the market and significant leverage to adding value through exploration success.<\/p>\n

\u201cIn a region that has demonstrated its potential to host world-class gold deposits, this acquisition aligns with our commitment to adding shareholder value through innovative and cost-effective exploration, discovery, and resource development.\u201d<\/p>\n

MPK says surface geochemistry programs at Baga will commence immediately.<\/p>\n

At its other projects, aggressive advanced exploration drilling at the Odienne project is ongoing and drilling at the Ferk\u00e9 project is in the planning stages.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Many Peaks Minerals, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

\u00a0<\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

The post Many Peaks grows gold portfolio in C\u00f4te d\u2019Ivoire by 50pc<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Many Peaks agrees to purchase Baga gold project from Atlantic Resources Total landholding in C\u00f4te d\u2019Ivoire increases ~50% to 1919km2 Surface geochemistry programs at Baga [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11464,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nMany Peaks grows gold portfolio in C\u00f4te d\u2019Ivoire by 50pc - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=11463\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Many Peaks grows gold portfolio in C\u00f4te d\u2019Ivoire by 50pc - 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