Golden Horse’s Hopes Hill Keeps on Giving, as Deep Drilling Uncovers New Gold Zones

Golden Horse Minerals (ASX: GHM) has once again found gold at the end of its drill bit, with its latest round of deep reverse circulation (RC) drilling at the Hopes Hill prospect in Western Australia’s Southern Cross region returning a suite of high-grade intercepts that confirm the depth and scale of the mineralisation.

The headline grabber is hole GHHHRC0043, which intersected 10 metres at 4.7 grams per tonne (g/t) gold from 279 metres, including a blistering 5 metres at 8.85 g/t Au. This intercept sits a substantial 175 metres below the pit floor, suggesting a new footwall mineralised zone that could rewrite the geological playbook for Hopes Hill.

Not to be outshone, other drill holes (GHHHRC0041 through GHHHRC0044) also delivered: 18m @ 2.8 g/t Au from 203m, 17m @ 2.4 g/t Au from 237m, and 19m @ 2.1 g/t Au from 206m. Together, these results showcase a consistent and well-mineralised central zone beneath the historic pit that continues to yield surprises.

Managing Director Nicholas Anderson summed it up with the kind of understatement that only a geologist could manage: “Hopes Hill keeps delivering with the latest very encouraging results… we are working with a large gold system.” One might add: “and getting larger.”

Golden Horse has now drilled 44 RC holes since January 2025, covering more than 10,000 metres beneath the 1.3km-long Hopes Hill pit. The company says the consistent tenor of gold grades and widths across these holes demonstrates both continuity and potential for a significant resource upgrade.

This isn’t just a deeper hole story. With the aid of a Western Australian Government Exploration Incentive Scheme (EIS) grant, Golden Horse is mobilising diamond rigs to push even further into the earth, while ramping up RC drilling with proceeds from a recent (and oversubscribed) capital raising. Anderson notes that the drill rate will increase by around 50%, and that diamond drilling will provide better structural data and deeper reach.

Meanwhile, the company’s other prospect, Irene Betty — a tantalising quartz reef located just west of Hopes Hill — is beginning to show its hand. First-pass RC drilling has returned high-grade hits such as 2m @ 6.04 g/t Au and 1m @ 8.32 g/t Au. While not yet enough to warrant champagne corks, these results echo historic reports of 10m @ 18.4 g/t Au and hint at the potential for a shallow, high-grade resource. The one-metre assays reveal evidence of coarse gold, prompting re-assays using screen-fire methods, with results due shortly.

Geologically, both Hopes Hill and Irene Betty sit in a prime structural setting. The Hopes Hill deposit comprises hanging-wall and foot-wall zones with quartz veining and sericite-silica alteration, classic hallmarks of orogenic gold systems. At depth, these structures appear to persist and even strengthen, offering scale and continuity — two vital ingredients in turning drill intersections into mineable ounces.

The market will be watching closely as Golden Horse continues to press down and outwards. With 1.9 million hectares in the Southern Cross belt under its control and new rigs spinning, the company is setting a brisk pace.

If there’s one thing Hopes Hill is proving, it’s that old pits can still punch above their weight — especially when you’re prepared to drill deeper. As the gold grades firm up and the resource footprint expands, Golden Horse may find itself galloping ahead of the junior exploration pack.