Golden Horse Minerals Unveils Major Gold Targets at Southern Cross
Golden Horse Minerals has reported compelling soil geochemistry results at its Southern Cross Project, revealing multiple significant gold anomalies and securing a strategic mining lease to bolster exploration efforts.
- Over 1,000 soil samples analyzed using advanced UltraFine+™ technology
- Large-scale gold anomalies identified at Athenia and Birthday prospects
- Acquisition agreement signed for the Irene Betty mining lease within key anomaly zone
- Follow-up drilling planned for 2025 to test newly defined targets
- Further soil sampling scheduled to expand exploration coverage
Exploration Breakthrough at Southern Cross
Golden Horse Minerals Limited (ASX: GHM) has delivered a promising update from its soil geochemistry program at the Southern Cross Project in Western Australia. The company reported assay results from over 1,000 soil samples collected across multiple prospects, highlighting significant gold anomalies that pave the way for targeted drilling campaigns.
The Southern Cross Project, situated within the prolific Southern Cross Greenstone Belt, covers an extensive 130km north-south tenement package. Despite a history of exploration in the region, Golden Horse’s application of the UltraFine+™ assay technology, developed by CSIRO and LabWest, has enabled the detection of subtle geochemical signatures beneath transported cover, validating the company’s innovative exploration approach.
Key Gold Anomalies and Strategic Acquisition
The standout discovery is the Athenia anomaly, a substantial gold-in-soil trend approximately 1km long and up to 500m wide, located immediately south of the historic Hopes Hill prospect. Hopes Hill itself is notable for historic open pit production reportedly yielding 216,000 ounces of gold, underscoring the potential of the surrounding area. Elevated gold assays at Athenia reached up to 1,584 parts per billion (ppb), with multiple samples exceeding 100ppb, signaling a robust target for follow-up drilling.
Complementing this is the Birthday Prospect, where a 1km-long gold anomaly has been delineated, with peak soil assays reaching 199ppb. This prospect, located within the Bullfinch Greenstone Belt, has a history of underground mining dating back to 1911 and recent production phases, adding further credibility to the exploration upside.
In a strategic move to consolidate its position, Golden Horse has entered into an agreement to acquire the Irene Betty mining lease, which lies within the Athenia anomaly zone. The lease has a legacy of small-scale mining and historic drilling intercepts, including high-grade gold intersections. The acquisition terms include a cash payment and the issuance of CDIs, subject to regulatory approvals, along with a net smelter royalty arrangement.
Expanding the Exploration Footprint
Additional soil sampling at the Ennuin Star South area has identified two zones of gold anomalism, notably around the Marionete workings, extending over 1.2km. These results have prompted plans to expand drilling coverage in 2025. Similarly, the Ennuin Dome North and Derwent Jack areas have yielded encouraging geochemical data, with further infill sampling and auger programs scheduled to refine targets.
Golden Horse’s Managing Director, Nicholas Anderson, emphasized the significance of these findings: "The scale and quality of the new targets validate our exploration methodology and highlight the underexplored nature of the Southern Cross Greenstone Belt. We are excited to advance these prospects alongside our priority focus on the Hopes Hill deposit."
Looking ahead, the company plans to continue soil sampling through March and beyond to better define existing anomalies and explore areas with limited prior coverage. The forthcoming drilling campaigns, contingent on approvals, will be critical in testing the economic potential of these targets.
Technological Edge and Historical Context
The use of UltraFine+™ technology represents a notable advancement in soil geochemistry, enabling Golden Horse to detect gold signatures beneath challenging surface conditions. This approach, combined with a comprehensive review of historical data and targeted acquisitions, positions the company to unlock value in a region with a rich but patchy exploration history.
While historical production figures provide encouraging context, the company cautions that these numbers may be incomplete or inaccurate, underscoring the importance of modern exploration techniques and rigorous drilling to confirm resource potential.
Bottom Line?
Golden Horse Minerals is poised to transform its Southern Cross tenure with strategic acquisitions and cutting-edge exploration, setting the stage for a pivotal drilling season in 2025.
Questions in the middle?
- How will upcoming drilling results at Athenia and Birthday prospects impact resource estimates?
- What are the timelines and regulatory hurdles for the Irene Betty lease acquisition completion?
- Could further soil sampling reveal additional high-grade zones within the Southern Cross Greenstone Belt?