Mount Hope Mining Advances High-Grade Gold Expansion at Mt Solitary

High-Grade Gold Confirmed at Mt Solitary

Mount Hope Mining Limited (ASX:MHM) delivered a compelling March 2026 quarter update, highlighting significant progress at its flagship Mt Solitary Gold Project in New South Wales’ prolific Cobar Basin. Surface rock chip sampling yielded standout assays of 52g/t and 40g/t gold, both featuring visible gold and a strong bismuth association. This geochemical signature bolsters the company’s evolving geological model and hints at parallels with the nearby Peak Gold Mines, known for their high-grade Cobar-style deposits.

These rock chip results were collected just 110 metres northwest of historical workings, suggesting the mineralised structure extends beyond previously known zones. The visible gold presence, coupled with elevated bismuth, is increasingly seen as a vector for mineralisation along the MS2 Gold Corridor, reinforcing the project’s exploration potential.

Drilling Expands Mineralised Envelope and Validates Structural Model

Mount Hope completed its Phase 2 reverse circulation (RC) drilling program, comprising 14 holes for 2,161 metres, designed to test strike, dip, and plunge extensions of mineralisation. Assay results released post-quarter included notable intercepts such as 6 metres at 18 g/t gold from 55 metres, featuring visible gold in drill chips, and broader zones like 15 metres at 3.9 g/t and 17 metres at 3.2 g/t gold. These results not only confirm high-grade continuity but also expand the mineralised footprint both along strike and at depth.

The drilling has provided further validation of Mount Hope’s structural interpretation, with mineralisation open at depth beyond the 275-metre vertical extent tested so far. This leaves considerable upside potential, especially given that the nearby New Occidental deposit at Peak Gold Mines extends to approximately 1,250 metres vertical. Planning for Phase 3 drilling is underway, aiming to extend the mineralised envelope and infill priority high-grade zones, subject to approvals and rig availability. This drilling momentum builds on the company’s earlier efforts, including the successful Phase 1 program and initial resource modelling, as detailed in the Phase 2 drilling results and Mt Solitary Exploration Target announcements.

CSAMT Survey Enhances Targeting and Structural Understanding

A Controlled-Source Audio-Frequency Magnetotellurics (CSAMT) survey was completed during the quarter, mapping key structural features to depths exceeding 500 metres. The survey resolved resistive zones associated with the MS2 fault and an intersecting northwest-trending structure, closely correlating with known mineralisation at Mt Solitary. Importantly, the geophysical data highlighted new priority targets, including a strong resistive feature on one survey line and largely untested ground southeast of the fault intersection, offering fresh avenues for exploration.

Strategic Landholding Expansion in the Cobar Basin

Mount Hope further consolidated its regional position by acquiring two new exploration licences, EL9874 and EL9875, increasing its southern Cobar Basin landholding to approximately 606 square kilometres. These additions cover major structural corridors and prospective ground for both gold and polymetallic deposits, aligning with the company’s strategy to build a district-scale portfolio. The expanded footprint enhances exposure to key regional trends and supports ongoing exploration activities across multiple targets.

This land acquisition complements the company’s broader polymetallic portfolio and follows recent strategic moves to bolster its position in the basin, as noted in its earlier tenement acquisitions update.

Financial Position and Next Steps

Mount Hope maintains a healthy cash balance of $3.1 million as of 31 March 2026, with exploration expenditure of $582,133 for the quarter focused on advancing Mt Solitary. The company confirmed no mining production or development activities during the period, consistent with its exploration phase.

Looking ahead, the June 2026 quarter plans include finalising Phase 3 drill programs, continuing detailed geological and structural mapping, advancing technical studies towards a maiden Mineral Resource estimate, and commencing early permitting and stakeholder engagement. Additional surface sampling and hyperspectral analysis will support the refinement of geological models, while maiden drilling campaigns are planned for polymetallic targets such as Fenceline and Mt Solar.