How Deep Does the Gold at Mt Solitary Extend for Mount Hope Mining (ASX:MHM)?

Sonal Goyal

10 November 2026 12:10 PM AEDT

How Deep Does the Gold at Mt Solitary Extend for Mount Hope Mining (ASX:MHM)?

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Key Highlights

Phase 3 RC drilling at Mt Solitary returned 6 metres at 6.8 grams per tonne gold from 268 metres to the end of the hole.
Significant gold has been intersected about 280 metres below surface across roughly 120 metres of strike.
The system remains open at depth and along strike, according to the company.
A Phase 4 diamond drilling campaign is due to begin shortly, aiming to support a maiden Mineral Resource Estimate.

Mount Hope Mining Limited (ASX:MHM) has reported the results of its Phase 3 Reverse Circulation Drilling program at the Mt Solitary gold prospect, located within its 100 per cent owned Mt Hope Project in New South Wales. The announcement, dated 10 November 2026, reports that gold mineralisation has been extended down dip on several drill sections, with significant gold now intersected roughly 280 metres below surface.

Phase 3 Drilling and Key Intercepts

The Phase 3 program comprised ten reverse circulation holes for 2,919 metres. The highest result was hole 26MSRC031, which returned 6 metres at 6.8 grams per tonne gold from 268 metres to the end of the hole, including 4 metres at 9.9 grams per tonne from 270 metres. The same hole also returned 15 metres at 2.4 grams per tonne from 242 metres, including 4 metres at 7.9 grams per tonne. Hole 26MSRC033 returned 17 metres at 2.4 grams per tonne from 264 metres, including 6 metres at 5.4 grams per tonne.

The company says these were the highest intercepts yet on the northeastern-most drill line, and that the mineralised intervals are thickening and becoming more continuous to the north and down dip. Three holes on the central section extended mineralisation more than 100 metres down dip, according to the company's interpretation.

Geological Targets and Depth Extension

Phase 3 was designed to test the down-dip extension of mineralisation below earlier drilling, step out down dip on the central section, test between the northeastern and central sections, and examine the southern extent of the system, including a CSAMT geophysical anomaly. Earlier phases had defined high-grade gold along a north-west trend with a steep westerly dip.

The company reports significant gold on two drill sections about 120 metres apart, at around 280 metres below surface. Depth intersections of this kind are important for a prospect because they indicate the potential size of a mineralised body, but they also depend on the continuity of the zone between drill holes, which is not yet fully defined.

Next Phase and Resource Ambitions

All assays from Phase 3 have been received and interpreted. The company has moved to secure a diamond drill rig for Phase 4, which will test the projected down-dip extension of the Phase 3 holes and other depth extensions. The company's stated aim is to contribute to a maiden Mineral Resource Estimate for Mt Solitary, which would convert exploration results into a resource category under the JORC Code, subject to sufficient data and technical work.

Reverse circulation drilling produces rock chips rather than core, and diamond drilling in Phase 4 will provide more detailed geological information. The company's interpretation of grade and continuity will be refined by those results, and the resource estimate will depend on the quality of that data.

Risks and Limitations of the Current Results

Drill intercepts are reported as downhole widths and grades, not as true widths, and short intervals within broader zones can vary considerably in grade. Several of the highest results are short intervals, and the company has yet to define the full geometry of the mineralised body. Results from drilling at depth can also differ from shallower results, and the company's claim that the system remains open is a statement of intent to test further rather than proof of continuity.

The company's future depends on converting exploration results into a resource and then deciding whether the project can be developed economically. Funding for the Phase 4 program and any subsequent work will also matter, although the announcement does not specify the program budget.

Final Word

Mount Hope's Phase 3 results show gold continuing at depth at Mt Solitary, with the company now focused on testing how far the mineralised zone extends. The Phase 4 diamond program will determine whether the thicker, higher-grade zones seen at depth are continuous enough to support a maiden resource. Investors will be watching the timing of the diamond results and the company's first resource estimate for the prospect.

FAQs

Q: What were the highlight results from Mount Hope's Phase 3 drilling?

A: Hole 26MSRC031 returned 6 metres at 6.8 grams per tonne gold from 268 metres to the end of the hole, including 4 metres at 9.9 grams per tonne.

Q: How deep is the gold at Mt Solitary?

A: The company has intersected significant gold approximately 280 metres below surface on two drill sections about 120 metres apart.

Q: What happens next at Mt Solitary?

A: A Phase 4 diamond drilling campaign will begin shortly to test down-dip and depth extensions and to contribute to a maiden Mineral Resource Estimate.

Q: Is the Mt Solitary prospect a resource yet?

A: No. The company is targeting a maiden Mineral Resource Estimate, but the current results are exploration data and do not yet define a resource.

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