Mount Hope Mining has locked in a drill contractor for its Mt Solitary Phase 3 program, aiming to extend gold mineralisation and advance towards a maiden JORC resource by year-end.
- 3,000 metres Reverse Circulation drilling scheduled from mid-August
- Targets southern and western extensions beyond current drilling limits
- Focus on high-grade gold intercepts and CSAMT geophysical targets
- Supports maiden JORC Mineral Resource estimate expected in 2026
- Site preparation and access works already underway
Drill Contract Secured for Key Expansion Phase
Mount Hope Mining Limited (ASX:MHM) has awarded the drill contract for the next stage of its Mt Solitary exploration, signalling a critical step towards expanding its gold footprint in New South Wales. The Phase 3 program will deploy up to 3,000 metres of Reverse Circulation (RC) drilling, set to commence in mid-August and run for approximately six weeks.
The drilling campaign is designed to push beyond the current mineralised envelope, targeting extensions up to 200 metres south of known gold zones. It will also test a compelling, highly resistive CSAMT (Controlled Source Audio-frequency Magnetotellurics) feature along the MS2 Corridor, a structural trend that has become a focal point for the company’s exploration efforts.
Building on High-Grade Intercepts and Geological Models
This program follows a string of impressive high-grade intercepts from earlier drilling phases, including standout results such as 66 metres at 2.36 g/t gold from 24 metres and 10 metres at 12.11 g/t from surface. These intercepts underpin the company’s confidence in the prospectivity of the Mt Solitary corridor and form the basis for the current exploration target.
Mount Hope’s Managing Director Fergus Kiley emphasised the strategic importance of the drill contract, stating, “Securing the drill contractor represents another important step in maintaining momentum at Mt Solitary.” He highlighted that the Phase 3 drilling will test extensions well beyond previous limits and provide critical data to support a maiden JORC Mineral Resource estimate anticipated by the end of 2026.
Exploration Target and Project Scale
The Mt Solitary gold prospect sits within the broader MS2 Gold Corridor, a district-scale trend stretching approximately 7.5 kilometres with multiple targets. The company has defined an Exploration Target ranging from 1.32 to 1.87 million tonnes at grades between 1.0 and 1.35 g/t gold, translating to an estimated 42,500 to 81,400 ounces of gold. However, this target remains conceptual, based on historical data and previous models, with further drilling required to validate and upgrade the resource.
Site works are already progressing, with drill pad construction and access preparation well underway, reflecting Mount Hope’s systematic, drill-led approach to exploration. The company’s strategy includes not only expanding mineralisation at Mt Solitary but also advancing polymetallic targets across its 606 km² landholding in the southern Cobar Basin.
Next Steps and Market Implications
The Phase 3 program is a pivotal part of Mount Hope’s 2026 exploration agenda, following earlier phases that confirmed significant mineralisation and refined geological models. The results from this drilling will be closely watched as they will shape the maiden JORC resource estimate, a key milestone for the company’s valuation and development pathway.
Given the scale of the Mt Hope Project and the potential for further discoveries along the MS2 Corridor, the upcoming assays and resource updates could significantly influence investor sentiment and strategic decisions. The drilling campaign also dovetails with recent environmental readiness initiatives, positioning the company for potential future mining approvals.
Bottom Line?
Mount Hope’s Phase 3 drilling at Mt Solitary is a decisive move towards defining a JORC resource, but results must confirm the promising extensions beyond current limits.
Questions in the middle?
- Will Phase 3 drilling confirm extensions beyond the current mineralised envelope?
- How will assay results influence the timing and scale of the maiden JORC resource?
- What impact will ongoing environmental studies have on project approvals and development?