Mount Hope Mining has completed its maiden drilling at the Mt Hope Project, revealing promising high-grade gold intercepts and securing $2.48 million to accelerate exploration efforts.
- Maiden drill program completed with 2,424m drilled
- High-grade gold intercepts at Mt Solitary including 19m at 4.5g/t Au
- Four priority targets defined – Mt Solitary, Black Hill, Blue Heeler, Mt Hope East
- Post-quarter $2.48 million capital raise to fund accelerated drilling
- Cash balance of $3.17 million as of 30 September 2025
Exploration Milestone Achieved
Mount Hope Mining Limited has marked a significant step forward with the completion of its maiden drilling program at the Mt Hope Project in New South Wales. The 2,424-metre campaign targeted four priority areas within the prolific Cobar Basin, a region known for its rich mineral endowment. Despite weather-related interruptions that curtailed drilling at Mt Hope East, the program successfully tested three key prospects – Mt Solitary, Black Hill, and Blue Heeler.
Encouraging High-Grade Gold Results
Early assay results from Mt Solitary have exceeded expectations, delivering an intercept of 19 metres grading 4.5 grams per tonne of gold starting at 39 metres depth. Notably, this includes a standout 1-metre section assaying 50 grams per tonne, underscoring the presence of high-grade mineralisation open at depth. These findings have laid the groundwork for the first modern geological model of the deposit, highlighting the potential scale of the 7.5-kilometre Mt Solitary–Mt Solar gold corridor.
Strengthened Financial Position to Accelerate Growth
Following the quarter, Mount Hope Mining secured $2.48 million through a combination of a placement and a share purchase plan. This capital injection is earmarked to accelerate drilling activities at Mt Solitary and along the broader gold corridor. With a cash balance of $3.17 million at the end of September, the company is well-positioned to maintain momentum and transition from initial exploration to a discovery-driven phase.
Looking Ahead – Phase 2 Drilling and Core Analysis
Plans are underway for a phase 2 drilling program at Mt Solitary, designed to test down-plunge extensions and parallel lodes identified through recent geological modelling. Additionally, Mount Hope Mining will undertake structural logging of historic diamond drill core stored at the Londonderry facility, which is expected to enrich the understanding of mineralisation controls. The company also intends to complete the deferred drilling at Mt Hope East, subject to rig availability.
Strategic Positioning in a Proven Mining District
The Mt Hope Project covers a substantial 422 square kilometres in the Cobar Super Basin, an established mining hub with historical production of copper and gold. Its proximity to infrastructure such as major highways, rail lines, and seaports enhances the project's logistical appeal. The region’s recent polymetallic discoveries further underscore the potential for significant exploration success, positioning Mount Hope Mining to capitalize on these favourable conditions.
Bottom Line?
Mount Hope Mining’s maiden drilling success and fresh capital set the stage for an exciting exploration phase that could redefine its value proposition.
Questions in the middle?
- What will the remaining assay results from the maiden drill program reveal about other targets?
- How will phase 2 drilling at Mt Solitary refine the geological model and resource potential?
- What impact will the structural logging of historic core have on exploration strategy?