Golden Horse Minerals Unveils High-Grade Gold Hits at Hakes Find

• Maiden drilling at Hakes Find yields multiple high-grade gold intercepts
• Significant results include 11m @ 3.36 g/t Au and 8m @ 4.84 g/t Au
• Historic drilling results confirmed, reinforcing mineralisation continuity
• Project remains open along strike and at depth with multiple lodes identified
• Plans underway for metallurgical testing and further resource definition drilling

Maiden Drilling Success at Hakes Find

Golden Horse Minerals Limited (ASX: GHM) has delivered encouraging results from its inaugural reverse circulation (RC) drilling campaign at the Hakes Find prospect, part of its Southern Cross project in Western Australia. The eight-day program completed in December 2024 comprised 16 holes totalling 1,219 metres, targeting a 200-metre strike length of shallow, high-grade gold mineralisation.

Noteworthy intercepts include 11 metres at 3.36 grams per tonne (g/t) gold from just 8 metres downhole, featuring a standout 1 metre at 20.10 g/t Au, and 8 metres at 4.84 g/t Au from 26 metres depth, including 1 metre at 25.89 g/t Au. These results not only confirm the presence of multiple parallel lodes but also validate historic drilling data, which reported similar grades and thicknesses.

Confirming Historic Data and Extending Potential

The campaign successfully replicated historic drill results such as 12 metres at 3.49 g/t Au from 24 metres and 11 metres at 2.50 g/t Au from 19 metres, underscoring the continuity of mineralisation across the site. Golden Horse’s Managing Director, Nick Anderson, highlighted that the project remains open both along strike and at depth, suggesting significant upside potential beyond the initial drilling footprint.

Hakes Find’s location is strategically advantageous, being easily accessible by road and close to existing toll treating facilities and the Southern Cross township. This proximity could facilitate a more streamlined path towards development, particularly given the shallow nature of the mineralisation.

Next Steps: Metallurgical Testing and Resource Definition

Looking ahead, Golden Horse plans to undertake metallurgical testing to assess gold recovery rates from the mineralised intercepts. Concurrently, a Stage 2 resource definition drilling program is slated for later in 2025, aiming to establish a maiden JORC-compliant mineral resource estimate. This will involve infill drilling to better define the down-dip extensions and strike continuity of the mineralisation.

Golden Horse’s broader Southern Cross tenure spans approximately 1,900 square kilometres of highly prospective greenstone belt lithologies. The company intends to leverage modern exploration techniques, including geophysics and geochemistry, to generate additional targets and enhance its resource inventory across the district.

Strategic Implications for Golden Horse

The successful maiden drilling campaign at Hakes Find vindicates Golden Horse’s strategy to consolidate tenure in a historically fragmented gold district. With gold prices remaining robust, the company is well-positioned to advance its projects rapidly. Meanwhile, a larger-scale drilling campaign is already underway at the high-priority Hopes Hill prospect, signaling a busy exploration calendar for the first half of 2025.

In sum, Golden Horse Minerals’ initial drilling results at Hakes Find provide a solid foundation for future growth, combining high-grade intercepts with promising geological continuity and accessible infrastructure.

Bottom Line?

Golden Horse’s maiden drilling success at Hakes Find sets a promising tone, but the market will watch closely as further drilling and metallurgical results unfold.

Questions in the middle?

• How will metallurgical test results impact the economic viability of Hakes Find?
• What scale and timeline does Golden Horse envision for resource definition drilling at Hakes Find?
• Can the company replicate or exceed these high-grade results at other Southern Cross prospects like Hopes Hill?