Golden Horse’s High-Grade Hits Open Door to Deeper and Longer Gold Mineralisation

Initial Drilling Success at Marionete-Star of Ennuin

Golden Horse Minerals Limited (ASX – GHM) has delivered encouraging results from its inaugural regional reverse circulation (RC) drilling campaign at the Marionete-Star of Ennuin trend, located approximately 25km north of Bullfinch in Western Australia. The program, comprising 20 holes totaling 1,263 metres, has confirmed multiple shallow, high-grade gold mineralised intercepts over a strike length exceeding 300 metres.

Among the standout results, hole GHMARC013 returned 10 metres at 6.8 grams per tonne (g/t) gold from just 5 metres depth, including a remarkable 1 metre at 37.5 g/t from 14 metres. Other significant intercepts include 5 metres at 5.6 g/t from 11 metres (GHMARC017R) and 4 metres at 4.5 g/t from 44 metres (GHMARC004). These results validate the presence of high-grade mineralisation in shallow zones that had not previously been drill tested.

Expanding the Mineralised Corridor

The Marionete-Star of Ennuin trend forms part of a broader geological corridor extending over 800 metres, with the current drilling focused on an initial 300-metre section. The mineralisation is hosted within quartz vein stockworks in banded iron formation and ultramafic units, similar to the nearby 1.5 million ounce Copperhead deposit. Importantly, the mineralised zones remain open both at depth and along strike, presenting significant upside potential for resource expansion.

Golden Horse’s Managing Director, Nicholas Anderson, expressed enthusiasm about the results, highlighting the company’s plans to prioritise follow-up drilling in early 2026 to test the remaining strike extensions and depth potential. This approach underscores the company’s confidence in the prospect’s ability to contribute meaningfully to its Southern Cross tenure portfolio.

Pending Assays and Regional Exploration Momentum

In addition to Marionete-Star of Ennuin, Golden Horse has completed RC drilling at the Baby Queen and Lakeview prospects, with assays still awaited. These results will be critical in assessing the broader regional potential across the company’s extensive +1,800 square kilometre Southern Cross tenure.

Meanwhile, the RC rig has been redeployed to the flagship Hopes Hill Project, where pre-collars are being prepared for two diamond rigs currently drilling to define and expand known high-grade mineralisation. This multi-pronged exploration strategy aims to maintain a steady flow of news and progress updates through to early 2026.

Technical and Strategic Outlook

The drilling was conducted with industry-standard techniques, including 5.5-inch face sampling RC drilling and rigorous quality control protocols. Assays were processed by Bureau Veritas in Perth, with results consistent with historical data and geological expectations. The company plans infill and deeper diamond drilling to refine resource estimates and better understand the geometry of the mineralised zones.

Golden Horse’s aggressive exploration campaign reflects a broader trend in the Southern Cross Greenstone Belt, a prolific gold-producing region with significant underexplored potential. The company’s consolidation of tenure and systematic drilling programs position it well to unlock value from both historic workings and new discoveries.