The estimate comprises an open-pit resource of 24.32Mt at 1.42g/t gold for 1.108 million ounces and an underground resource of 10.31Mt at 2.93g/t gold for 970,000 ounces. The resource is constrained using separate open-pit and underground cut-off grades and mining assumptions.
According to the company, the interim estimate represents a 754,000-ounce, or 57%, increase over six months. Many Peaks attributed most of the growth to Inferred material associated with underground assumptions and deeper, wider-spaced drilling beneath previous pit outlines.
Many Peaks said a scoping study considering an integrated open-pit and underground development scenario was nearing completion for later in the fourth quarter of 2026, ahead of a planned feasibility study in 2027. The company cautioned that the planned studies are incomplete and there is no certainty their outcomes will support an economically viable mining operation.
Metallurgical test work remains under way. The company said its resource estimate uses a provisional 85% recovery assumption for transition and sulfide material, while optimisation and confirmatory testing are still outstanding.
Source: Download MPK official ASX announcement, 2026-11-05.
Annotated drill-core photograph from Many Peaks' 5 November 2026 company announcement, illustrating mineralisation at the Ouarigue prospect.