Mount Hope Mining Unveils Promising Mt Solitary Gold Drilling Results in Cobar Basin

Mount Hope Mining’s Strategic Position in the Cobar Basin

Mount Hope Mining (ASX – MHM) presented a comprehensive update at the Blue Ocean Equity Conference in February 2026, highlighting its exploration and early-stage development activities focused on gold and base metals in the southern Cobar Basin, New South Wales. This region is renowned for its rich mineral endowment, hosting multiple operating mines and mills within close proximity, supported by established infrastructure including roads, rail, power, and water.

The company’s portfolio includes a strategic landholding covering 417 square kilometres, predominantly on freehold land, positioning MHM well for regional consolidation in one of Australia’s premier base and precious metals jurisdictions.

Drilling Success at Mt Solitary

Central to MHM’s exploration efforts is the Mt Solitary gold project, where Phase 2 drilling has recently been completed with results eagerly awaited. Earlier Phase 1 drilling delivered encouraging intercepts, including a standout 19 metres at 4.5 grams per tonne gold from 39 metres depth. The company has defined an exploration target ranging from 1.3 to 1.8 million tonnes grading between 1.0 and 1.35 grams per tonne gold, equating to an estimated 42,500 to 81,400 ounces of gold.

Notably, visible gold assays have reached up to 52.5 grams per tonne, accompanied by significant bismuth mineralisation. This co-occurrence of gold and bismuth is geologically significant, mirroring mineralisation styles seen at nearby major deposits such as the New Occidental mine, which boasts historical and current resources exceeding 1.6 million ounces.

District-Scale Potential and Exploration Pipeline

Beyond Mt Solitary, MHM controls a portfolio of advanced drill-stage targets and a pipeline of over 40 early-stage exploration areas. These include prospects along the MS2 corridor, a 7.5-kilometre mineralised trend featuring multiple prospects like Little Mt Solitary, Powerline Hill, and Mt Solar, all demonstrating encouraging gold and base metal signatures.

The company is actively pursuing farm-in agreements, joint ventures, and partnerships to expand its footprint and accelerate exploration progress. This approach aligns with the broader trend of consolidation and development within the Cobar Basin, where infrastructure is abundant but resource growth remains a critical focus.

Financial Position and Market Context

As of December 2025, Mount Hope Mining reported a market capitalisation of approximately AUD 9.7 million and held cash reserves of AUD 3.8 million, providing a solid foundation for ongoing exploration and development activities. The company’s management team, led by Managing Director Fergus Kiley, is steering the project through a phase of rapid advancement towards a maiden JORC-compliant resource estimate.

Comparisons with larger regional operators underscore the scale of opportunity. The Cobar Basin hosts several significant mines and processing facilities, some with excess milling capacity that could potentially toll treat ore from Mt Solitary, offering a cost-effective pathway to production.

Looking Ahead

Mount Hope Mining’s next steps include interpreting Phase 2 drilling and geophysical survey results, defining Phase 3 drilling targets, and progressing towards a maiden mineral resource estimate. The company’s strategic focus on both gold and base metals, combined with its extensive landholding and district-scale exploration potential, positions it as a noteworthy player in the NSW mining landscape.