Golden Horse Minerals (ASX: GHM) has unearthed a fresh batch of promising gold targets at its Southern Cross Project in Western Australia, thanks to an extensive soil geochemistry program. With over 1,000 soil samples analysed, the company has outlined new drill-ready anomalies across multiple prospects, reinforcing the untapped potential of this historic gold belt.
Managing Director Nicholas Anderson summed up the excitement, stating, “The soil results received are extremely encouraging, with the identification of new drill targets validating the exploration techniques used. Importantly, the sheer scale of the Athenia and Birthday drill targets underscores the significant prospectivity of the Southern Cross Greenstone Belt.”
The Athenia anomaly is proving to be a jewel in Golden Horse’s exploration crown. Soil sampling revealed gold values as high as 1,584 parts per billion (ppb), with multiple samples exceeding 100ppb—far above the background level of 10ppb.
This anomaly sits near the historic Hopes Hill open pit, but interestingly, the southern extension remains untested due to a covering saltpan. Given the scale and prospectivity of the trend, drilling is on the cards later this year.
The Birthday Prospect, located about 30km north of Bullfinch, has also turned heads with a peak gold value of 199ppb. The anomaly, stretching 1km by 100–200m, follows the same stratigraphy that historically produced over 5,100 ounces of gold at grades exceeding 14g/t.
While limited historical drilling has taken place, it appears ineffective in testing the full extent of the mineralisation. With arsenic levels also elevated (a common gold pathfinder), Golden Horse is eyeing drill targets here in 2025.
Further strengthening its position, Golden Horse has entered into an agreement to acquire the Irene Betty mining lease(M77/1266), which is surrounded by the Athenia anomaly. Historical drilling on this lease returned strong results, including:
Golden Horse will pay $50,000 and issue 620,000 CDIs (subject to FIRB approval and Ministerial consent) to complete the acquisition. The company has also agreed to a 1.5% net smelter royalty on the first 15,000 ounces of gold produced.
Golden Horse isn’t slowing down. More soil sampling is set for March to refine and extend these anomalies, and drilling approvals are in progress. The focus remains on unlocking the untapped gold potential within this underexplored section of the Southern Cross Greenstone Belt.
With a growing list of high-priority drill targets, a fresh tenement acquisition, and geochemical results confirming significant gold potential, Golden Horse looks well-positioned for a busy and potentially rewarding 2025.
Investors will be watching closely as drill rigs move in later this year.