Thrifty Banker
  • Politics
  • Business
  • World
  • Investing
  • Politics
  • Business
  • World
  • Investing

Thrifty Banker

Investing

Option to Acquire Baga Gold Project, Cote d’Ivoire

by June 27, 2024
June 27, 2024
Option to Acquire Baga Gold Project, Cote d’Ivoire

Many Peaks Minerals Limited (ASX:MPK) (Many Peaks or the Company) is pleased to announce it has entered into a binding agreement with Atlantic Resources CI SARL to secure an exclusive right to acquire a 100% interest in two permits totaling 644Km2 in eastern Cote d’Ivoire. The acquisition underscores Many Peaks’ proactive approach to portfolio growth and diversification focusing on a highly favourable jurisdiction for both discovery and development potential. The Company plans to initiate a comprehensive exploration program to assess for resource potential within the option period.

Highlights

Many Peaks secures the right to acquire 100% ownership of the Baga Gold Project covering 644km2 area of highly prospective Birimian gold terrane in eastern Côte d’Ivoire
Enlarges Many Peaks’ landholding in Côte d’Ivoire to 1,919km2 (50% increase) significantly expanding the project exploration pipeline
Reconnaissance mapping at the Baga Gold Project has identified occurrences of previously unmapped intrusions and shear corridors with coincident alteration and sulphide minerals highlighting prospectivity of an underexplored region
Systematic surface geochemistry programmes commencing immediately
Strong cash balance to aggressively advance exploration with ongoing drilling at the Odienne Project and drilling at the Ferke Project in the planning stages

The recently granted exploration permits cover an underexplored area of structural complexity in the Birimian gold terrane (Figure 1), where multiple major mapped structures converge. Initial mapping and rock chip sampling has identified extensive shearing associated with alteration and localised zones of weathered sulphide minerals. Many Peaks will commence surface geochemistry survey programmes immediately, comprised of mapping and rock chip sampling, concurrent with a comprehensive stream sediment sampling campaign.

Many Peaks’ Executive Chairman, Travis Schwertfeger commented:

“Having quickly established ourselves in Côte d’Ivoire and successfully initiating exploration activity within weeks following acquisition of the exciting Odienné and Ferké projects, the Company is very pleased to identify an additional opportunity further bolstering our pipeline of projects for growth within the same jurisdiction. The Baga Gold Project is complimentary to the existing portfolio in Côte d’Ivoire providing several operational synergies delivering opportunities for an increase in positive results to the market and significant leverage to adding value through exploration success.

Located in 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.”

Baga Gold Project Summary

The Baga Gold Project is a 644km2 landholding comprised of two recently granted exploration permits located 150km east of the city of Bouaké, Cote d’Ivoire and situated 80km west of the Ghana border (Figure 2).

The permits cover an underexplored region of structural complexity highly prospective for orogenic gold deposits. The permits are, situated where the southern extent of the Duango-Fitini shear zone in Côte d’Ivoire’s north forms a flexure or structural splay into Oumé-Fetekro parallel shears within Birimian metasediments and metavolcanics. At this change of orientation in structures within the Biriiman terrane the Baga project area also covers the intersection, or truncation of the Bui Belt which hosts Tarkwaiian sediments and conglomerate units extending east and northeast into central Ghana (Figure 1).

The intersection of multiple regional scale structures in combination with identification of previously un-mapped lithologic complexity associated with evidence of alteration, sulphide minerals proximal to shear corridors in reconnaissance mapping by Many Peaks highlight a highly prospective area to advance exploration activity.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Successful Placement to Raise $750,000
next post
Amazon reaches $2 trillion market cap for the first time

Related Posts

Galan Secures Agreement with Glencore for Offtake &...

March 28, 2024

Crypto Market Recap: Bybit Suffers US$1.5 Billion Hack,...

February 25, 2025

4 Biggest Cybersecurity ETFs in 2023

September 27, 2023

Technology Advancement: NEO Battery Expands Production Yield and...

March 15, 2024

Noble Minerals Initiates Temporarily Delayed Drill Program in...

July 3, 2024

VIZSLA COPPER ANNOUNCES ACQUISITION OF UNIVERSAL COPPER

February 15, 2024

Tech 5: Bankman-Fried Found Guilty, Biden Signs AI...

November 5, 2023

Joe Cavatoni: Gold Still a Key Asset, but...

October 4, 2023

Heritage Mining Announces Closing of the First Tranche...

June 24, 2024

Editor’s Picks: ECB Issues Gold Warning, Uranium Stocks...

May 24, 2025

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular

    • 1

      Top 10 Countries for Natural Gas Production (Updated 2024)

      April 6, 2024
    • 2

      Understanding Lithium Mineralogy from an Investment Perspective

      September 12, 2023
    • 3

      US Capital Global Facilitates $50MM Financing to Accelerate Charbone Hydrogen’s North American Expansion

      June 6, 2025
    • 4

      Israel confirms it is arming Hamas rivals in operation opposition calls ‘complete madness’

      June 6, 2025
    • 5

      A GOP operative accused a monastery of voter fraud. Nuns fought back.

      January 3, 2025
    • 6

      Crypto Market Recap: Strategy Eyes US$1B Raise for Bitcoin Push, UK Regulator Reverses ETN Ban

      June 6, 2025
    • 7

      China’s aircraft carriers send message in the open Pacific for the first time – and bigger and more powerful ships are coming

      June 16, 2025

    Categories

    • Business (1,053)
    • Investing (2,079)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,387)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: thriftybanker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thriftybanker.com | All Rights Reserved