Golden Horse’s Hopes Hill Expansion Raises Questions on Resource Potential and Next Steps

Hopes Hill Drilling Delivers Encouraging Results

Golden Horse Minerals Limited (ASX: GHM) has announced a series of promising assay results from its ongoing reverse circulation (RC) drilling program at the Hopes Hill gold project, located near Southern Cross in Western Australia. The latest six drill holes (GHHHRC0035 to GHHHRC0040) demonstrate continuity of mineralisation at depth beneath the Central Zone of the historic Hopes Hill pit and reveal potential for the mineralised system to extend southwards beyond the current pit limits.

Significant intercepts include 10 metres at 2.6 grams per tonne (g/t) gold from 150 metres depth, including a higher-grade 4 metres at 5.5 g/t, confirming the presence of a robust gold system extending deeper than previously defined. These results build on earlier drilling that has established a large gold system beneath the 1.3-kilometre-long historical pit.

Southern Extension Identified Over 1km

Perhaps most notably, Golden Horse’s review of geological, geophysical, and historical drilling data south of Hopes Hill has identified a potential mineralised structure extending more than one kilometre beyond the existing pit. This southern extension, now accessible following recent consolidation of mining leases, has seen limited historical drilling and remains open in all directions, presenting a compelling exploration opportunity.

Historical drill results in this southern zone have returned encouraging shallow intercepts such as 8 metres at 3.0 g/t gold from just 6 metres depth and 3 metres at 7.5 g/t from 10 metres, indicating the presence of near-surface mineralisation that could be economically attractive. Aeromagnetic data further suggests the mineralised trend may continue under adjacent salt pans, an area yet to be drilled.

Irene Betty Prospect Shows Shallow High-Grade Potential

Parallel to the west of Hopes Hill, the Irene Betty prospect has also delivered encouraging results from initial RC drilling. Assays from composite samples reveal shallow zones of high-grade gold mineralisation, including 4 metres at 4.7 g/t from 8 metres depth and 4 metres at 3.2 g/t from 44 metres. Historical workings and geochemical anomalies suggest a mineralised strike length of several kilometres, largely untested by modern drilling.

Golden Horse is currently re-assaying composite samples at finer intervals to better define the grade and width of mineralisation, with plans for follow-up drilling to test extensions along strike and at depth. The presence of visible gold in historical drill logs, despite lower assay grades at the time, hints at the potential for underestimation of gold content in earlier sampling.

Accelerated Drilling and Exploration Plans

Managing Director Nicholas Anderson expressed optimism about the expanding scope of the Hopes Hill project: "Hopes Hill just keeps getting bigger and better with more highly encouraging results being returned. The potential southern extension provides a wonderful opportunity to substantially increase the size of Hopes Hill." He also highlighted the promising nature of the Irene Betty structure and confirmed plans to add a diamond drilling rig to the fleet, aiming to accelerate the pace of exploration.

Supported by a recent Western Australian Government Exploration Incentive Scheme grant, the company intends to commence deeper diamond core drilling in June 2025 to enhance geological understanding and test mineralisation continuity at depth. Combined with ongoing RC drilling, these efforts are expected to refine resource estimates and unlock further value.

Strategic Significance for Golden Horse Minerals

The Hopes Hill project, situated within the prolific Southern Cross Greenstone Belt, represents a cornerstone asset for Golden Horse Minerals. The consolidation of tenure and systematic exploration approach are positioning the company to potentially define a significant gold resource in a historically productive region. The identification of multiple mineralised zones and extensions underscores the prospectivity of the area and the effectiveness of the company’s exploration strategy.

While true widths of mineralisation remain to be fully determined and some historical assay data may have underestimated gold grades, the current drilling results provide a strong foundation for further work. The company’s commitment to expanding drilling and refining geological models will be key to unlocking the full potential of Hopes Hill and Irene Betty.