For a newly minted ASX explorer, Golden Horse Minerals (ASX: GHM) is wasting no time proving its worth. The company has delivered exceptional first-pass drilling results at its flagship Hopes Hill gold project in Western Australia’s Southern Cross region, and the numbers suggest it could be sitting on something special.
Leading the charge is drill hole GHHHRC0001, which returned a whopping 61 metres at 2.5 grams per tonne (g/t) gold from 91 metres, with juicy high-grade sections including:
- 8m at 9.2 g/t Au from 144m
- 3m at 9.1 g/t Au from 105m
- 3m at 7.8 g/t Au from 91m
Another hole, GHHHRC0004, also pulled a strong 29m at 1.3 g/t Au from 113m, featuring 1m at 4.5 g/t Au and other solid hits.
Given that Golden Horse only listed on the ASX in December 2024, this is a cracking start.
A Flying Start for the Newcomer
When Golden Horse picked up Hopes Hill from Emerald Resources (ASX: EMR) late last year, it was clear the company had high expectations. These drill results now validate that punt, with the mineralisation looking every bit as promising as the historical drilling suggested.
Golden Horse Managing Director Nicholas Anderson is understandably chuffed.
“These extraordinary assay results from our maiden drill program at Hopes Hill build on the recent success at Hakes Find. Considering we only listed in December, it’s exciting to have already identified multiple high-priority targets with strong results.”
Anderson has every reason to be pleased. The 22-hole, 4,500-metre drill program, which kicked off in late January, is designed to confirm historical drill results and test deeper mineralisation beneath the old Hopes Hill pit—a 1,300-metre-long, 90-metre-deep operation that’s been gathering dust for years.
Nicholas Anderson
Adding further weight to the story, historical drilling in the same area delivered encouraging hits, including:
- 24m at 1.9 g/t Au from 68m, including 7m at 5.0 g/t Au
- 14m at 2.8 g/t Au from 65m, including 3m at 7.6 g/t Au
Clearly, Hopes Hill isn’t just a one-hit wonder.
More to Come?
Golden Horse isn’t done yet. Assays for the remaining 54 metres of GHHHRC0004 are still pending, meaning more positive news could be around the corner.
The Phase 1 drilling program will continue for another 3–4 weeks, with the company focused on pinning down the structural controls of the mineralisation and testing for down-plunge extensions of the high-grade zones.
And let’s not forget—Hopes Hill is just one part of the company’s 1,900km² landholding in a gold-rich district. There’s plenty of ground to explore.
The Bigger Picture
For a junior gold explorer, early drill results like these are the equivalent of kicking a goal from outside 50. They don’t guarantee success, but they certainly put Golden Horse on the radar.
The market will now be watching closely for the next round of assays and any hints of a potential resource estimate.
With the drills still spinning and the gold grades stacking up, this horse might just be worth backing
