Many Peaks Gold Limited announces assay results for the first 8 of 11 holes from its initial drill campaign at the Mt Weary Gold Project (Mt Weary), with the final batch of assays for the remaining 3 holes anticipated in 2 weeks' time. Assay results received to date confirm extensions of known gold mineralisation and identify several zones of higher tenor gold mineralisation. The drilling has identified a substantially larger volume of favourable porphyry textured intrusions (diorite) in step-out drilling than recognised in previous mapping and drilling and the diorite bodies are consistently associated with strong hydrothermal alteration and pyrite (+/- arsenopyrite) mineralisation. This drill program was testing 600 metres extent of the
3km gold-in-soil anomalism identified at Mt Weary. Mineralisation remains open in all directions. Drilling also discovered a skarn body at Boggy Creek (BCRC011) not recognised in previous work. Assays are still pending on the skarn package. With multiple skarn type occurrences exploited in historical mining throughout the district, the discovery of skarn mineralisation at Boggy Creek is significant. Assays are expected to be received in the next 2 weeks. In addition to exploration at the Mt Weary Project, the Company is planning to commence exploration activity at the Rawlins Copper-Gold Project (Rawlins Project) in the coming quarter. Follow-up mapping and rock sampling is planned for the Rough Gully prospect, where rock chips have returned up to 31.1g/t gold. 100g/t silver and 0.6% copper, including extensions of surface geochemistry into the Copper Knob prospect. Planned surface geochemistry is intended to establish continuity of potential mineralisation for drill targeting and refining geophysical survey targets for the Rawlins Project. The additional porphyritic textured diorite intrusions identified are consistently associated with strong hydrothermal alteration and sulphide mineralization. Gold values are associated with several intrusion contacts and zones of intense fracturing or potential brecciation of the rock in several drillholes.