Sorrel Copper Project Acquisition Adds 8.4Mt at 1.1% Cu to Golden Horse

Golden Horse's Strategic Entry into Copper

Golden Horse Minerals Limited has officially completed its acquisition of the Sorrel Copper Project in the Northern Territory, marking a significant strategic expansion beyond its gold-focused portfolio. The deal, valued at A$3 million, split between cash and company securities, grants Golden Horse 100% ownership of a project boasting an inferred mineral resource estimated at 8.4 million tonnes grading 1.1% copper, equating to approximately 88,600 tonnes of contained copper metal.

Resource Estimate and Geological Context

The Mineral Resource Estimate (MRE), prepared by independent consultants Entech Pty Ltd, is grounded in a comprehensive dataset of over 55,000 metres of drilling from 787 holes, spanning reverse circulation and diamond drilling techniques. The Sorrel Copper Project comprises multiple breccia pipe deposits, steeply dipping, cylindrical structures known for hosting copper mineralisation, with seven key deposits delineated and more than 50 additional pipes identified but yet to be tested.

Located in the east McArthur Basin near the Northern Territory-Queensland border, the project sits within a Tier-1 mining jurisdiction, surrounded by established base metal operations. The geological model is robust, though the resource remains classified as Inferred due to limitations in historical data quality and incomplete logging, underscoring the need for further exploration to upgrade confidence levels.

Next Steps and Development Plans

Golden Horse plans to initiate an on-ground review starting September 2025, followed by a comprehensive economic evaluation to assess the project's viability and guide future exploration. Heritage approvals are targeted for April 2026, with a maiden drilling campaign anticipated to commence mid-2026. This drilling will focus on both resource definition and testing the numerous untested breccia pipes, aiming to expand the current resource base and potentially upgrade resource classifications from Inferred to Indicated or Measured.

While Golden Horse continues to advance its Southern Cross Gold Project, the acquisition of Sorrel provides meaningful copper exposure amid a backdrop of strong long-term copper supply-demand fundamentals. The company’s Managing Director, Nicholas Anderson, highlighted the acquisition as a highly value-accretive transaction that positions Golden Horse strategically within the copper sector.

Environmental and Historical Considerations

The Sorrel Copper Project has a long history dating back to early 20th-century small-scale mining, with more recent operations at the Sandy Flat deposit in the 1990s. Legacy environmental issues, particularly at Sandy Flat, are acknowledged, with ongoing rehabilitation efforts in collaboration with the Northern Territory Government. Golden Horse will need to manage these environmental factors alongside exploration and development activities.