Business · Companies · 2 hrs ago
Many Peaks Minerals drilling points to underground gold potential at Ferké
Many Peaks Minerals reported high-grade gold intercepts from drilling beneath its first resource estimate at the Ferké gold project.
Ferké is the company’s gold project, and the estimate stands at 1.3 million ounces of gold.
The company says the drilling results show potential to grow the resource.
Managing director Travis Schwertfeger discussed the results and the possibility of a combined open-pit and underground mine.
Open-pit mining works from the surface, while underground mining reaches deposits below it.
The company is examining whether both methods could be used at Ferké.
The information provided does not give a timeline for further work or a decision on mining.
Many Peaks Minerals drilling has indicated potential for underground gold mining at its Ferké gold project.
The company is examining a possible operation combining open-pit and underground mining.
The drilling produced high-grade gold intercepts beneath a maiden resource estimate of 1.3 million ounces.
Managing director Travis Schwertfeger discussed the results in an interview with Stockhead.
- Who
- Many Peaks Minerals, whose managing director is Travis Schwertfeger.
- What
- Drilling has indicated potential for underground gold mining and may support resource growth at Ferké.
- When
- Stockhead published the interview on 16 October 2026.
- Where
- The Ferké gold project. Its location is not stated.
- Why
- The high-grade intercepts beneath the maiden estimate point to possible resource growth and a dual open-pit and underground operation.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Company
- Many Peaks Minerals (ASX:MPK)
- Project
- Ferké gold project
- Maiden estimate
- 1.3 million ounces
- Interview guest
- Travis Schwertfeger, managing director
- Publication date
- 16 October 2026