The six-week, 3,000-metre RC program targets southern and western extensions beyond current drilling. CEO Fergus Kiley said results will feed into a maiden JORC resource estimate by year-end.
Mount Hope Mining (ASX:MHM) awarded a drill contract for the Mt Solitary phase three program in New South Wales, with the work slated to start in mid-August. The program will run about six weeks and includes up to 3,000 metres of reverse circulation drilling targeting the southern and western extensions of the gold prospect, beyond the limits of current drilling. The holes will also test a resistive CSAMT feature along the MS2 Corridor south of Mt Solitary.
Chief executive Fergus Kiley said the program aims to expand the known gold system along strike and support progress toward a maiden JORC resource estimate by year-end. “Securing the drill contractor represents another important step in maintaining momentum at Mt Solitary,” Kiley said in a statement. Site preparation is already underway.
The company has an exploration target of 1.32 million to 1.87 million tonnes grading 1.0 to 1.35 grams per tonne, implying between 42,500 and 81,400 ounces of contained gold. Earlier this year, rock chip sampling returned 40.89 g/t gold and 52.5 g/t gold from samples containing visible gold, along with elevated bismuth – an association the company sees as a vector for additional mineralisation.
Mt Solitary sits within the 7.5-kilometre MS2 gold corridor, a trend with multiple targets that the company describes as district-scale. The phase three program will test up to 200 metres south of the current mineralised envelope.
MHM last traded at 12.0 Australian cents, giving it a market capitalisation of about A$5.7 million.
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