Mount Hope Mining Advances Mt Solitary Gold Project with Phase 3 Drilling Imminent

High-Grade Gold Intercepts Confirmed at Mt Solitary

Mount Hope Mining (ASX:MHM) is gearing up for a pivotal Phase 3 drilling campaign at its Mt Solitary gold project in the southern Cobar Basin, following the completion of two successful drilling phases. The company has recorded standout intercepts including 6 metres at 18 grams per tonne (g/t) gold from 55 metres and 19 metres at 4.5 g/t from 39 metres, underscoring the prospect’s potential as a high-grade target.

These results reinforce a mineralised envelope currently measuring approximately 210 metres long by 20 metres wide and 270 metres deep, which remains open in all directions. The company is advancing towards defining a maiden JORC Resource, with Phase 3 drilling designed to test southern and western extensions up to 200 metres beyond the current envelope.

Exploration Target and Metallurgical Strengths

The Mt Solitary Exploration Target is estimated between 1.32 and 1.87 million tonnes grading 1.0 to 1.35 g/t gold, equating to 42,500 to 81,400 ounces of gold. However, this remains conceptual in nature, with insufficient exploration to classify as a Mineral Resource under JORC standards.

Metallurgical test work has delivered promising results, with an impressive 88% gold cyanide solubility across all material and oxidation states. This suggests favourable processing characteristics, which could streamline future development pathways.

Strategic Location and Commercial Model

Mt Solitary benefits from a prime location atop an 80-metre hill, reducing potential strip ratios for mining. Situated just 500 metres from a sealed road and 3 kilometres from the township of Mt Hope, the project enjoys ready access to power, water, accommodation, and skilled labour.

Importantly, the project lies within 200 kilometres of seven operating mills, most of which have excess capacity for toll treatment. Mount Hope Mining is leveraging this proximity through commercial arrangements such as the Ore Purchase Agreement executed by New Murchison Gold (ASX:NMG) with Westgold Resources (ASX:WGX), which could facilitate processing of Mt Solitary ore.

Expanding the Footprint with Polymetallic Targets

Beyond Mt Solitary, Mount Hope Mining controls a substantial 606 square kilometres of tenure in the Cobar Basin, one of Australia’s most prolific base and precious metals districts. The company has identified over 40 early-stage target areas, including advanced copper-gold prospects along the MS2 corridor, which features a 7.5-kilometre mineralised trend with several prospects showing multi-gram gold and polymetallic mineralisation.

Recent geophysical surveys and geochemical sampling have refined targets for follow-up drilling, with the company actively pursuing farm-in and joint venture opportunities to accelerate exploration across its portfolio.

Phase 3 Drilling and Next Steps

Phase 3 drilling is set to commence imminently, focusing on step-out holes along strike and at depth to test extensions of the known mineralisation. The program will also investigate a highly resistive feature identified by Controlled Source Audio Magnetotellurics (CSAMT) surveys along the MS2 corridor, which may indicate additional mineralised zones.

Mount Hope Mining is progressing metallurgical test work and aims to deliver a maiden Mineral Resource Estimate in due course. The company’s strategy combines systematic exploration with early-stage development in a premier mining jurisdiction, positioning it to unlock value in a district with established infrastructure and active mining operations.