Highlights

  • A maiden aircore programme exceeding 15,000 metres begins at Randwick and Flemington prospects, testing more than five kilometres of strike south of Greenmount.
  • Greenmount RC drilling previously returned up to 8 metres at 16.3 g/t gold; the aircore programme will test whether this system continues under southern cover.
  • After Hopes Hill, the RC rig moves to Hughes Hill, Violet and Withers — three targets near Bullfinch covering sedimentary-hosted and granite-hosted gold styles.
  • Golden Horse holds more than 1,800 square kilometres in the Southern Cross Greenstone Belt, described as historically under-explored due to soil cover.

One strong discovery often opens questions about the ground around it. Golden Horse Minerals (ASX:GHM) has answered that question at Greenmount by sending an aircore rig south along strike to test whether the gold system continues under the shallow cover that kept the Southern Cross Greenstone Belt largely unexplored. On 21 October 2026, the company announced the start of its first aircore programme and outlined where the RC rig heads next.

The Aircore Programme

The maiden aircore programme is planned to exceed 15,000 metres across the Randwick and Flemington prospects south of the town of Southern Cross. It will test more than five kilometres of strike south along the same corridor as the Greenmount RC programme, with the work expected to run approximately two months and sampling and assaying continuing to the end of the year. Randwick, tested first, lies about ten kilometres from Southern Cross and is interpreted as a possible southern extension of Greenmount. It has not previously been drilled, despite historical soil anomalism over more than five kilometres of strike and the presence of a fold nose typical of gold trap structures. Flemington follows, targeting the Rankin Trend — multiple faults, foliated granitoids and strain zones near a contact, along strike from the historic Mt Rankin pit.

Why Greenmount Matters as Context

The aircore programme's rationale rests on Greenmount's RC results. Previously announced intercepts include 8 metres at 16.3 g/t gold from 209 metres in hole 26GMRC006, 8 metres at 8.6 g/t from 218 metres in 26GMRC004 and 12 metres at 5.2 g/t from 139 metres in 26GMRC005. The announcement does not specify whether these are downhole or true widths. Aircore is designed to map geology and geochemical trends beneath shallow cover; positive results typically require follow-up RC drilling to define any mineralisation.

The RC Rig's Next Three Stops

After completing its current campaign at Hopes Hill — a shear-hosted gold system near Bullfinch with resource modelling in progress — the RC rig will move to Hughes Hill, Violet and Withers. Hughes Hill and Violet test sedimentary-hosted mineralisation within the Golden Valley Group, about ten kilometres from Bullfinch. Withers targets granite-hosted quartz veins in the same area, just north of WIN Metals' Radio mine. These targets add a second exploration front to the district, running in parallel with the southern aircore programme. Managing director Nicholas Anderson characterised the start of aircore as adding 'a new pony in the stable' to the company's exploration programme.