Golden Horse Minerals updates its Southern Cross Project exploration with compelling soil geochemistry results revealing extensive gold anomalies and confirms acquisition of the Irene Betty lease, setting the stage for targeted drilling in 2025.
- Soil geochemistry program identifies large-scale gold anomalies at Athenia and Birthday prospects
- Acquisition agreement secured for the strategically located Irene Betty mining lease
- Over 1,000 soil samples analyzed using advanced UltraFine+™ assay technology
- Follow-up drilling planned for multiple high-priority targets in 2025
- Further soil sampling scheduled to refine and extend existing anomalies
Exploration Breakthrough at Southern Cross
Golden Horse Minerals (ASX: GHM) has delivered a significant update on its Southern Cross Project in Western Australia, revealing promising gold targets from an extensive soil geochemistry program completed in late 2024. The company reported assay results from over 1,000 soil samples, highlighting multiple large-scale gold anomalies that pave the way for targeted drilling campaigns.
The standout discovery is the Athenia anomaly, a substantial gold-in-soil trend stretching approximately 1 kilometre in length and up to 500 metres wide, situated immediately south of the historic Hopes Hill prospect. Hopes Hill itself is notable for historic open pit operations that reportedly yielded 216,000 ounces of gold, underscoring the prospective nature of the region.
Strategic Acquisition Enhances Tenement Control
In a complementary development, Golden Horse has entered into an agreement to acquire the Irene Betty mining lease, which is strategically surrounded by the Athenia anomaly. This acquisition consolidates the company's tenure in a highly prospective area that has seen limited systematic exploration despite historical small-scale mining and drilling. The deal involves a cash payment and the issuance of CDIs, subject to regulatory approvals, along with a net smelter royalty arrangement on initial gold production.
Advanced Assaying Validates Exploration Approach
The soil samples were analyzed using the UltraFine+™ assay technique, a cutting-edge method developed by CSIRO and LabWest designed to detect subtle geochemical anomalies beneath transported cover. This technology has validated Golden Horse's exploration methodology, enabling the identification of gold trends that had previously eluded detection.
Notably, the Birthday Prospect, located about 30 kilometres north of Bullfinch within the Bullfinch Greenstone Belt, also yielded a distinct 1-kilometre-long gold anomaly. Historical mining at Birthday produced over 5,100 ounces of gold at high grades, but prior drilling was shallow and ineffective in fully testing the newly defined anomaly.
Next Steps: Drilling and Further Sampling
Golden Horse plans to prioritize drill testing of these newly identified targets, including the Athenia and Birthday prospects, once necessary approvals are secured. Additional soil sampling programs are scheduled for March 2025 to better delineate and potentially extend the existing anomalies, particularly in underexplored areas such as Ennuin Star South and Ennuin Dome North.
Managing Director Nicholas Anderson emphasized the significance of these results, stating that the scale and quality of the anomalies underscore the Southern Cross Greenstone Belt's robust gold potential. He highlighted the company's commitment to advancing these targets alongside other prospects within its extensive tenement package, signaling an active exploration phase ahead.
Bottom Line?
Golden Horse Minerals’ latest soil geochemistry results and strategic lease acquisition position it for a pivotal drilling campaign that could redefine its Southern Cross gold prospects.
Questions in the middle?
- How will the Irene Betty lease acquisition impact Golden Horse’s exploration timeline and capital allocation?
- What are the expected timelines and budgets for the upcoming drilling programs at Athenia and Birthday?
- Could the UltraFine+™ assay technology reveal additional hidden gold targets within Golden Horse’s broader tenement package?