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Goldman First diamond hole of the year confirms visible gold ~200m down-dip as five rigs mobilised to accelerate 125km program
Golden Horse Minerals Limited (ASX:GHM) has reported visible gold in its first diamond drill hole of 2026 at Hopes Hill, part of the Southern Cross Gold Project in Western Australia, alongside a series of high-grade assay results and an expanded drilling fleet now operating onsite.
The visible gold was intersected in hole 26HHDD001, approximately 200 metres down-dip from the previously mined Hopes Hill pit, which historically produced 216koz at 2.4g/t Au. Laboratory assays from surrounding sampled intervals confirmed strong grades.
Key drill results
From hole 26HHDD001:
- 4.0m @ 4.6 g/t Au from 297m, including:
- 1.1m @ 8.6 g/t Au from 297.0m
- Within a broader zone of 7.0m @ 2.8 g/t Au from 297.0m
The company noted that the visible gold itself was not assayed, as it occurred on the non-sampled side of the core. Given the potential for nuggety gold, half-core samples above and below the visible gold were assayed to extinction to better understand grade variability.
Of 156 re-assays completed to date, over half returned grades above 5.0 g/t Au, with a maximum assay of 63.3 g/t Au and multiple results exceeding 10 g/t Au.
Further significant results from diamond and reverse circulation (RC) drilling include:
- 6.6m @ 2.6 g/t Au from 379.53m (GHHRCD0114 – Hopes Hill Main)
- 10.0m @ 1.2 g/t Au from 27m (26HHRC022 – Hopes Hill North)
Hole GHHRCD0114 successfully targeted the northern extension of deep mineralisation previously intersected in GHHRCD0119 (8m @ 2.5 g/t Au from 363m), at a similar RL and approximately 95 metres along strike. The company said the comparable widths and grades between the holes support further testing and infill drilling on a nominal 50-metre spacing.
Golden Horse also flagged delays in laboratory turnaround times due to elevated gold prices and the Christmas–New Year period, resulting in a backlog of assays from most 2026 drill holes. Results are expected to be progressively released in coming weeks.
To accelerate the +125km drill program for 2026, a second diamond rig (DDH1 Rig 33) and a third RC rig (Strike Rig 19) have been mobilised to Southern Cross, lifting the total number of rigs onsite to five.
Golden Horse Managing Director, Nicholas Anderson said:
With the very first hole drilled at Hopes Hill for 2026, we are thrilled to report that we have intercepted visible gold in 26HHDD001 which is a testament to our belief in the potential of this mineralised system. Whilst following geological best practice, we took the additional steps of comprehensively assaying around the visible gold to ensure we gain a detailed understanding of the gold deportment.
Of the 156 re-assays, over half graded above 5.0 g/t Au with multiple +10 g/t Au assays to 63.3 g/t Au highlighting the upside we see at Hopes Hill. What is particularly exciting is this high-grade mineralisation is located within the footwall package, which was previously thought to have hosted lower grade mineralisation. We backed ourselves and swung the rig onto a new hole to test our geological model, and to intercept visible gold in a rock unit outside the conventional ‘mine geology corridor’ is a fantastic outcome for the Company.
Given the current gold price environment exceeding $7,000/ounce in AUD terms, we have elected to expedite our 125km drill program for 2026 by turning on an additional RC rig for our regional prospects and a second diamond rig to further test and follow-up the high-grade mineralisation intercepted at Hopes Hill and regionally across our Southern Cross Gold Project.
Increasing the number of rigs from three to five enables the team to accelerate exploration activities early in the year, with a view of unlocking further value with the drill bit. While some may say we’ve put the cart before the horse, we are confident that we’ve backed a winner on a strong track for success and look forward to keeping the market updated on our progress during this busy period ahead.
