Mount Hope Mining inks drill contract for Mt Solitary phase three program

• Next stage of drilling locked in
• Contract signed for phase three gold drilling
• Up to 3,000 metres of reverse circulation (RC) drilling planned

Mount Hope Mining (ASX:MHM) is set to commence the Mt Solitary phase three program in mid-August after awarding the drill contract for the NSW project.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

Expected to run for approximately six weeks the program will consist of up to 3,000 metres of reverse circulation (RC) drilling, which has been designed to target the southern and western extensions of the Mt Solitary gold prospect, beyond the limits of the current drilling, testing up to 200m south of the current mineralised envelope.

Drilling will also test a highly resistive CSAMT feature along the MS2 Corridor south of Mt Solitary.

MD and CEO, Fergus Kiley, said the program aims to expand the known gold system along strike and support progression toward a maiden JORC Resource anticipated by the end of the year.

“Securing the drill contractor represents another important step in maintaining momentum at Mt Solitary. With site preparation already underway, we remain on track to commence the Phase 3 program in mid-August,” Mr Kiley said.

“This program will test the southern and western extensions of the mineralised system well beyond the limits of current drilling, as well as the compelling CSAMT target along the MS2 Corridor. We believe there is significant potential to expand the known gold system, and the results will provide important information as we work toward delivering a maiden JORC Mineral Resource estimate by the end of the year. We look forward to updating shareholders as drilling progresses.”

Mt Solitary sits within Mount Hope Mining’s expanded MS2 gold corridor, a district-scale 7.5km mineralised trend with multiple targets and strong upside for repeat gold discoveries along strike and at depth.

An exploration target of 1.32 to 1.87 million tonnes has been estimated at 1.0 to 1.35 grams per tonne (g/T0 for between 42.5 and 81.4 ounces of gold.

Earlier this year the company obtained high-grade rock chip results returning 40.89 g/t gold and 52.5 g/t gold from samples containing visible gold, together with colloform–crustiform banded veining.

Both samples returned elevated bismuth, reinforcing an emerging Au–Bi association that may be a vector for additional mineralisation at Mt Solitary and along the MS2 Gold Corridor.

MHM was steady at 12.0¢. Mkt cap $5.688M.

Join the discussion: See what HotCopper users are saying about Mount Hope Mining and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.