Mount Hope Faces Data Challenges as It Advances Mt Solitary Gold and New Cobar Basin Licences

Expanding the Cobar Basin Presence

Mount Hope Mining Limited (ASX:MHM) has taken a significant step forward in its exploration ambitions by securing two new exploration licences, EL9874 and EL9875, in the highly prospective southern Cobar Basin of New South Wales. These licences add approximately 194 square kilometres to the company’s existing landholding, bringing its total footprint in the region to around 606 square kilometres. This expansion is a clear continuation of Mount Hope’s strategy to build a commanding position in one of Australia’s most mineral-rich provinces.

The newly granted licences are strategically located along major regional fault structures, including the Thule, Kilparney, and Woorara faults, which are considered key controls for mineralisation in the basin. Notably, EL9875 lies along strike from Peel Mining’s Southern Nights – Wagga Tank mineralised trend, a corridor known for significant polymetallic deposits. This proximity enhances the prospectivity of Mount Hope’s new tenure.

Early-Stage Targets and Limited Historical Drilling

Both EL9874 and EL9875 contain early-stage exploration targets identified through historical surface geochemical sampling. However, the areas have seen only limited historical drilling, offering Mount Hope a relatively fresh opportunity to apply modern exploration techniques. The company plans a staged exploration program that includes desktop reviews, field mapping, surface sampling, and geophysical surveys to refine and prioritise targets ahead of first-pass drilling campaigns.

Managing Director Fergus Kiley emphasised the strategic value of the new licences, highlighting their location along major structural corridors and the potential to unlock new discoveries. He noted that the company is keen to systematically advance exploration activities to validate and expand on these early-stage targets.

Clarifying the Mt Solitary Gold Exploration Target

Alongside the licence grants, Mount Hope issued a clarification regarding its previously announced Mt Solitary Gold Exploration Target. The company reaffirmed the accuracy of the target, which is based on a comprehensive review of historical drilling data, including 83 drill holes and trench sampling, combined with a 2006 resource model prepared by Hellman & Schofield. This model used advanced geostatistical methods and incorporated a large dataset of composited samples.

The Exploration Target estimates a potential gold resource ranging from 1.32 to 1.87 million tonnes at grades between 1.0 and 1.35 grams per tonne, equating to approximately 42,500 to 81,400 ounces of gold. However, Mount Hope cautions that this remains a conceptual target, with insufficient exploration to define a formal Mineral Resource under JORC standards. The company is actively conducting drilling programs to validate and refine the target, including both reverse circulation and diamond drilling phases planned throughout 2026.

Looking Ahead: Systematic Exploration and Resource Growth

Mount Hope’s broader strategy focuses on a drill-led approach to grow ounces and geological confidence, particularly at Mt Solitary and along the MS2 Gold Corridor, a district-scale mineralised trend within its landholding. The company also aims to advance polymetallic targets through integrated geophysical and geochemical techniques, targeting discoveries that could underpin future resource growth.

The combination of expanding tenure in structurally prospective ground and ongoing work to validate a significant gold target positions Mount Hope as a company to watch in the southern Cobar Basin. The coming months will be critical as exploration results begin to flow and the company seeks to convert early-stage targets into defined resources.