Golden Horse Minerals CDIs Exploration Results Confirm Southern Cross Potential

Golden Horse Minerals Continues to Unlock Value at Southern Cross Gold Project

Golden Horse Minerals (ASX: GHM) has released promising results from its ambitious 125km drilling campaign at the Southern Cross Gold Project, with significant intercepts confirming the quality and extent of gold mineralisation across multiple prospects. The company's aggressive exploration strategy is delivering wide, high-grade shallow intersections at Hopes Hill North and deep extensional mineralisation at Hopes Hill Main.

Furthermore, these Golden Horse Mineral CDIs exploration results validate the project's substantial resource potential in one of Western Australia's most proven gold districts. The systematic approach demonstrates the company's commitment to unlocking value through comprehensive exploration programs.

Multiple High-Grade Intercepts Confirm Expansion Potential

The announcement reveals exceptional near-surface mineralisation extending 700m north of the existing historic pit at Hopes Hill North. Golden Horse Mineral CDIs exploration results demonstrate consistent gold grades across multiple drilling intercepts, with key highlights including:

• 26HHRC027: 16m @ 1.6 g/t Au from 32m depth
• 26HHRC042: 8m @ 1.9 g/t Au from 40m depth
• 26HHRC022: 10m @ 1.2 g/t Au from 27m depth
• 26HHRC029: 12m @ 1.0 g/t Au from 60m depth

These shallow, wide intersections are particularly significant for future development scenarios, as they suggest potential for low-cost, near-surface mining operations. The mineralisation envelope's northward extension beyond the current pit boundary indicates substantial untapped resource potential.

Deep Diamond Drilling Confirms Hopes Hill's Depth Potential

Diamond drilling at Hopes Hill Main continues to validate the deposit's depth extensions, with hole 26HHDD002 intercepting mineralisation 110m vertically below the historic pit. In addition, these results provide crucial geological understanding for future resource modelling.

Golden Horse Mineral CDIs exploration results from this deep drilling program include:

• 7.1m @ 2.5 g/t Au from 178.9m (including 0.5m @ 12.6 g/t Au)
• 4.0m @ 3.1 g/t Au from 243m

These intercepts are particularly encouraging given the historic Hopes Hill pit produced 216,000 ounces at an average depth of only 50m over a 1.3km strike length. The diamond drilling program is building a robust geological model that suggests significant untested depth potential remains.

Management Commentary on Recent Results

"The aggressive selection to actively target conceptual open pit extensions to the north of Hopes Hill is paying dividends, with multiple broad intercepts highlighting the prospectivity of the immediate area and indeed the broader Southern Cross Greenstone Belt," stated Nicholas Anderson, Managing Director.

Understanding Orogenic Gold Systems: The Southern Cross Advantage

Orogenic gold deposits represent some of the world's most significant gold resources, formed through hydrothermal processes during mountain-building events. These systems are characterised by several key features that make them attractive exploration targets.

Structural controls play a crucial role, as gold mineralisation typically follows fault zones and shear structures. Moreover, depth persistence is a hallmark characteristic, with many orogenic systems extending to considerable depths exceeding 1km.

High-grade zones represent another advantage, as mineralisation can be concentrated in discrete, high-grade shoots. However, the complexity increases with multiple orientations, where fault networks create multiple mineralised trends.

For investors, orogenic gold systems like Hopes Hill offer predictable mineralisation styles with proven depth extensions and multiple exploration targets. The Southern Cross Greenstone Belt's geological setting has historically produced over 4 million ounces of gold, demonstrating the region's exceptional endowment.

Aggressive Multi-Rig Campaign Accelerates Discovery Timeline

Golden Horse's exploration strategy employs four active drill rigs (2 RC, 2 Diamond) across multiple prospects simultaneously. This approach provides several strategic advantages for accelerating exploration timelines.

Operational Efficiency Benefits

The multi-rig approach delivers high productivity with over 125km of drilling planned for 2026. Furthermore, parallel testing allows multiple prospects to be advanced simultaneously, whilst rapid results flow maintains continuous momentum through ongoing sample processing.

Technical Optimisation Strategy

The program utilises diamond drilling for structural and grade data at depth, whilst RC drilling provides shallow, cost-effective testing. Additionally, twin hole programs validate historic results and improve confidence in geological modelling.

The company has completed 3,350m at Hakes Find and mobilised to Marionete/Star of Ennuin for a 3,400m program. With over 4,000 samples in the laboratory backlog, investors can expect regular news flow throughout 2026.

Regional Program Expands Discovery Footprint

The systematic testing of regional prospects demonstrates Golden Horse's district-scale approach to exploration. This comprehensive strategy maximises the potential for significant discoveries across the broader tenure package.

Hakes Find (Completed)

The completed program comprised 49 holes totalling 3,350m testing strike extensions. Located 16km from Hopes Hill, this prospect offers potential processing synergies with gold and silver mineralisation identified.

Marionete/Star of Ennuin (Current)

A 3,400m RC program is currently underway at this historic high-grade mine. The prospect boasts historic production of 750,000 ounces @ 24 g/t Au and testing focuses on 300m strike extensions of known mineralisation.

Golden Valley Area (Planned)

Following completion at Marionete, the Golden Valley Area represents the next target. This forms part of the broader 1,800km² tenure package that provides district-scale exploration opportunities.

Investment Thesis: Multiple Catalysts Support Value Creation

Golden Horse Mineral CDIs exploration results present a compelling investment opportunity driven by multiple near-term catalysts. The combination of immediate results and long-term potential creates a strong value proposition for investors.

Immediate Catalysts (Q2 2026)

Regular assay results from the 4,000+ sample backlog will provide sustained news flow. In addition, Hakes Find results from the completed 3,350m program and Marionete drilling results from the high-grade historic mine should materialise soon.

Medium-term Value Drivers

Resource estimation following infill drilling represents a significant catalyst. Furthermore, depth extensions at Hopes Hill Main via diamond drilling and regional discovery potential across the 1,800km² tenure package provide substantial upside.

Strategic Advantages

The experienced management team brings Southern Cross knowledge and regional expertise. Moreover, infrastructure proximity to the established mining town of Southern Cross reduces development costs, whilst the proven geological environment with 4M oz historic regional production validates the district's potential.

Why Should Investors Track Golden Horse Minerals?

Golden Horse Minerals has positioned itself as a dominant player in the Southern Cross district through systematic consolidation and aggressive exploration. The company's multi-rig drilling campaign is delivering consistent high-grade results across multiple prospects.

The results validate both shallow extensions and deep potential, creating multiple value creation pathways. However, the technical approach combining RC and diamond drilling optimises both cost-effectiveness and geological understanding.

With regular results flow expected throughout 2026 and multiple discovery opportunities across the 1,800km² tenure package, Golden Horse offers investors sustained exploration upside in a proven gold district.

Key Investment Tracking Points

Investors should monitor regular assay results from the ongoing 4-rig drilling program. Additionally, resource estimation timing following infill drilling completion represents a major milestone.

Regional discovery potential at Marionete and Golden Valley provides further upside. Furthermore, corporate developments as resources grow and development options emerge could drive significant value creation.

Golden Horse Mineral CDIs exploration results demonstrate the company's strategic position in Southern Cross. The combination of experienced management and systematic exploration approach creates multiple pathways for value creation through resource growth, regional discoveries, and potential development scenarios.

Golden Horse Minerals represents a compelling exploration story with multiple shots on goal across proven gold terrain. For instance, the combination of immediate catalysts and long-term district potential makes it a stock worth following for investors seeking gold exploration exposure in Western Australia.

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