Many Peaks Gold plans follow-up exploration at Yarrol Gold Project, Queensland

Many Peaks Gold (ASX:MPG) has planned follow-up diamond core drilling to begin in the September quarter at its Yarrol Gold Project in central Queensland. 

The company says in its latest quarterly report that by expanding its footprint in Queensland with the key acquisitions of the Yarrol and Mt Steadman projects, its exploration strategy of expanding its exposure to the gold and critical minerals sector in tier-one jurisdictions is on track.

the Yarrol Gold Project, in particular, provides a ‘compelling’ opportunity

Many Peaks notes that the Yarrol Gold Project, in particular, provides a ‘compelling’ opportunity to the company, with diamond drilling results received in early 2023 including 17.8m @ 4.01g/t Au. This highlights the near-surface ‘high-grade’ potential of the project.

Additional sampling for recent diamond drilling is currently in progress concurrent with more detailed structural study work of the diamond core, providing structural insights for optimised drill orientations ahead of further planned drilling. 

Meanwhile, the June quarterly report also states that Many Peaks has a ‘strong’ bash balance to ‘aggressively’ advance exploration through the coming year at each of its gold and key critical mineral projects. 

On 30 June 2023, the company had $3.13 million cash at hand.

Many Peaks Gold is an emerging mineral exploration company focused on its portfolio of exploration projects in Australia and Canada.

Write to Aaliyah Rogan at Mining.com.au

Images: Many Peaks Gold Ltd
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.