Mount Hope Mining delivered high-grade gold assay results and robust metallurgical testwork at its Mt Solitary project, advancing toward a maiden JORC resource with Phase 3 drilling imminent.
- Phase 2 drilling confirms high-grade gold with visible specimens
- Metallurgical tests show 88% cyanide gold solubility supporting processing
- Environmental baseline program launched with R.W. Corkery appointment
- New exploration licence EL9906 expands Cobar Basin footprint
- Phase 3 drilling contract awarded, drilling to start mid-August
Phase 2 Drilling Unveils High-Grade Gold at Mt Solitary
Mount Hope Mining (ASX:MHM) has reinforced the prospectivity of its Mt Solitary Gold Project in the Cobar Basin with a compelling set of Phase 2 reverse circulation (RC) drilling results. The 14-hole, 2,161-metre program delivered standout intercepts including 6 metres at 17.9 grams per tonne (g/t) gold from 55 metres in hole 25MSRC013, where visible gold was observed in drill chips. Other significant intercepts ranged from 15 metres at 3.9 g/t to 2 metres at 16 g/t, extending mineralisation both along strike and down plunge, validating the company’s structural model for the deposit.
Metallurgical Testwork Supports Efficient Processing Pathway
Complementing the drilling success, Mount Hope completed its first metallurgical study at Mt Solitary, analysing 234 archived pulp samples. The cyanide leach testwork returned an average gold solubility of 88% relative to fire assay results, consistent across oxidation states from surface to 140 metres depth. This strong cyanide amenability suggests that the gold system is inherently free-milling rather than weathering-dependent, underpinning confidence in a conventional processing route. Subsequent Phase 1 metallurgical testwork by ALS Metallurgy, announced post-quarter, further confirmed a combined gold recovery exceeding 98%, with 70% recoverable by gravity and low ore hardness indicating straightforward, low-cost comminution. This builds on historical data and enhances the potential for toll-treatment options given the proximity of operating CIL plants within 200 kilometres.
Environmental Readiness and Strategic Tenement Growth
In a strategic move towards project development, Mount Hope appointed R.W. Corkery & Co Pty Limited to lead the Environmental Baseline and Environmental Impact Statement (EIS) Readiness Program at Mt Solitary. This initiative marks the start of critical environmental studies encompassing biodiversity, groundwater, surface water, heritage, and meteorological monitoring, positioning the project favourably for future approvals in New South Wales.
During the quarter, the granting of exploration licence EL9906 in the northern Cobar Basin expanded Mount Hope’s landholding to 626 square kilometres, consolidating its position along the prospective Rockford trend within the broader MS2 Gold Corridor.
Phase 3 Drilling Contract Awarded Ahead of Busy Quarter
Mount Hope has awarded the contract for its Phase 3 drilling campaign, scheduled to commence in mid-August 2026. This program targets up to 3,000 metres of RC drilling focused on southern and western extensions of the Mt Solitary system, as well as geophysical targets along the MS2 Corridor. The drilling is designed to support the advancement towards a maiden JORC Mineral Resource estimate, expected later this year.
Managing Director Fergus Kiley emphasised the company’s momentum, highlighting the combination of high-grade drilling results, strong metallurgical indicators, and environmental baseline work as key pillars positioning Mt Solitary for resource definition and potential development.
Financial Position and Exploration Outlook
Mount Hope closed the quarter with a cash balance of $2.8 million and exploration expenditure of $314,156, reflecting disciplined capital management as it advances its drill-led exploration strategy. The company reported no mining production or development activities during the period, consistent with its focus on resource definition and permitting.
Looking ahead, the September quarter will see completion of Phase 3 drilling, commencement of more detailed metallurgical testwork, ongoing environmental baseline data capture, and progress on EIS planning. These steps aim to build geological confidence and regulatory readiness as Mount Hope moves towards unlocking value from its Mt Solitary Gold Project.
Bottom Line?
Mount Hope’s combination of high-grade drilling, robust metallurgy, and environmental groundwork sets a solid foundation for resource definition and potential development at Mt Solitary.
Questions in the middle?
- Will Phase 3 drilling extend the high-grade gold system beyond current limits?
- How will ongoing metallurgical testwork refine processing cost estimates?
- What timeline can investors expect for the maiden JORC Mineral Resource estimate?