Mt Solitary Exploration Target: Up to 81,400 Ounces at 1.35 g/t Gold

• Exploration Target estimates 1.32–1.87 million tonnes at 1.0–1.35 g/t gold
• Historical drilling includes high-grade intercepts up to 14.7 g/t Au
• 3,000m staged drill program planned for mid-2025 to validate and expand resource
• Project benefits from strong infrastructure and proximity to multiple mills
• Exploration Target remains conceptual pending further drilling and JORC compliance

Context and Significance

Mount Hope Mining Limited (ASX, MHM) has taken a decisive step forward in its exploration strategy by announcing an Exploration Target for the Mt Solitary gold prospect, part of its broader Mount Hope Project in the southern Cobar Basin of New South Wales. This milestone marks a transition from historical, non-JORC compliant resource estimates towards a more rigorous, JORC (2012) compliant Mineral Resource, underpinning the company’s commitment to systematic resource delineation.

The Exploration Target, derived from an extensive review of 83 historical drill holes and other data, estimates a tonnage range of 1.32 to 1.87 million tonnes at a grade between 1.0 and 1.35 grams per tonne of gold. This equates to a potential 42,500 to 81,400 ounces of gold, a meaningful scale for a project at this stage.

Historical Data and Geological Setting

The Mt Solitary prospect has a rich exploration history, with drilling campaigns dating back to the 1980s by various operators including Aberfoyle, Normandy, and Placer. Notably, several high-grade intercepts have been recorded, such as 46 meters at 3.18 g/t Au from 24 meters depth, and other intervals exceeding 10 g/t Au over multiple meters. These results highlight the prospect’s potential for both near-surface and deeper mineralisation.

Geologically, Mt Solitary is characterised by gold mineralisation hosted in sheeted quartz veins within a shear zone, with alteration zones ranging from hematite-silica-sericite near surface to chlorite-silica-pyrite at depth. The mineralised structure extends approximately 200 to 300 meters along strike and remains open at depth, suggesting upside potential beyond the current target.

Infrastructure and Development Potential

One of the project’s strategic advantages is its proximity to key infrastructure. Located just 3 kilometers east of the township of Mount Hope, the site benefits from access to power, water, accommodation, and a major bitumen road (Kidman Way). Additionally, it lies within 200 kilometers of seven different processing mills, many with excess capacity, which could facilitate rapid development if a resource is confirmed.

Managing Director Fergus Kiley emphasised the project’s favourable physical attributes and the company’s strategy to crystallise value amid a rising gold price environment. The combination of historical data, infrastructure, and planned drilling positions Mt Solitary as a compelling candidate for accelerated resource development.

Next Steps and Exploration Outlook

Mount Hope Mining plans a staged 3,000-meter drill program commencing mid-2025, pending final drill permit approvals. This program aims to infill and twin historical drill holes within the top 100 to 150 meters, verify legacy data, and test extensions along strike and at depth. The company also intends to re-inspect existing diamond drill core and RC chips to support resource development activities.

While the Exploration Target is conceptual and non-JORC compliant, the planned drilling and validation work represent a clear pathway to convert this target into a JORC-compliant Mineral Resource. Success here could significantly enhance the project’s valuation and attract further investment.

Bottom Line?

As Mount Hope Mining prepares to drill, the market watches closely for results that could unlock Mt Solitary’s hidden gold potential.

Questions in the middle?

• Will the upcoming drilling confirm and expand the historical high-grade gold zones?
• How quickly can Mount Hope Mining convert the Exploration Target into a JORC-compliant resource?
• What are the timelines and challenges for securing final drill permits and commencing the program?