Many Peaks Gold (ASX:MPG) is completing a diamond core drilling program to test for extensions to gold mineralisation at its Yarrol Project in Queensland.
This work follows ‘encouraging’ exploration results from Yarrol over the September quarter, with Many Peaks striking several visible intercepts of gold.
The diamond program will include step-out drilling at the Central Ridge prospect area, following up on the recent intercept of 40.8m @ 2.8g/t Au from 38m announced in August.
Many Peaks, which has a market capitalisation of $10.77 million, says drilling will confirm its revised structural model for the area generated from the reprocessing of existing geophysics datasets integrated with geochemical compilation and recent structural work from the first drill program completed at Yarrol, as previously announced.
The planned drilling program will cover a 1.6km extent of the more-than-4km-long zone of gold anomalism and will include single-hole tests into 2 previously undrilled targets north and south of Central Ridge.
Diamond drilling is still progressing at Yarrol, alongside initial reverse circulation (RC) drill tests on anomalism at the Mt Steadman Project.
The Yarrol Project is a 560km-square landholding located 30km southeast of Monto in the Northern Burnett Region of Queensland.
Many Peaks Gold is an emerging mineral explorer focused on a portfolio of assets located across Australia and Canada.
As of 30 September 2023, Many Peaks Gold had $2.4 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Many Peaks Gold
