Highlights

  • Mount Hope share price rose 66.7% to AUD 0.325 on 21 October 2025 during trading hours.
  • Maiden drilling at the Mt Solitary prospect confirmed shallow, high-grade gold mineralisation, including intercepts up to 50g/t Au.
  • Stage 2 drilling of up to 2,000m is planned to infill and extend mineralisation along strike and depth.

Mount Hope Mining Limited (ASX:MHM) has announced the confirmation of shallow, high-grade gold mineralisation at its Mt Solitary prospect, part of the company’s Mt Hope Project in New South Wales. The announcement follows results from the company’s maiden Reverse Circulation (RC) drilling campaign.

Following the release of results, MHM shares rose sharply by 66.7% to AUD 0.325 per share during trading hours on 21 October 2025.

Significant Drill Results

The drilling program comprised ten holes for a total of 1,236 metres, conducted across two parallel east-west fences spaced approximately 40 metres apart. The campaign confirmed both the presence of gold and the historical non-JORC compliant resources previously identified in the region.

Key intercepts from the maiden drilling included:

  • Hole 25MSRC004: 19 metres at 4.5 g/t gold from 39 metres, including 8 metres at 9.5 g/t, 3 metres at 23 g/t, and 1 metre at 50 g/t.
  • Hole 25MSRC002: 5 metres at 4.3 g/t gold from 13 metres, including 1 metre at 16 g/t.
  • Hole 25MSRC009: 4 metres at 4.7 g/t gold from 32 metres, including 1 metre at 13 g/t.

The program also highlighted a previously unrecognised structural trend, supported by historic drill holes such as MS49 (10m at 12 g/t Au), MS56 (21m at 4.7 g/t Au), and MS35 (8m at 9 g/t Au), with all intercepts remaining open down plunge.

Structural Interpretation and Geological Model

The drilling results have provided new geological insights into the Mt Solitary prospect. The company interprets that the gold mineralisation is orogenic, controlled by a regional north–south shear zone with subsidiary linking structures between the Sugar Loaf and Scotts Craig Faults. Mapping and drilling indicate the shear zone dips steeply to the west, which aligns with the new data from the maiden program.

The integration of geophysics, mapping, and historic drill data supports the evolving structural model, which is now guiding future exploration planning.

Next Steps and Stage 2 Drilling

Following the success of the initial program, MHM plans to advance exploration with a Stage 2 drilling campaign of up to 2,000 metres of RC and diamond drilling. The next phase aims to infill and expand known mineralisation along strike and at depth, targeting extensions to the north of the current drill area.

The company has already secured permits for up to 24 drill holes, with work expected to begin before the end of the year, subject to rig availability.

Additionally, assay results from other prospects drilled during the maiden program—Blue Heeler and Black Hill—remain pending and will be released once available.

Mount Hope Mining continues to advance its exploration strategy at the Mt Hope Project as it targets further definition and expansion of the high-grade gold mineralisation confirmed at Mt Solitary.