Mount Hope Mining (ASX:MHM) is advancing its Mount Solitary project following drill results that exceeded expectations and further validated its geological model, according to CEO Fergus Kiley.
The recent program, which built on historic drilling and Phase 1 work, confirmed mineralisation in a northwest orientation and extended zones in a westerly dip. “Just a validation of some really strong science that went into devising this model … and it really created a strong platform for us now to continue advancing efforts at the Mount Solitary prospect,” Kiley told the Investing News Network.
In parallel, the company completed a CSAMT survey that mapped key structural controls on mineralisation. Combining geophysics with drilling has opened a new exploration search space to the southeast, an area previously untested but now considered highly prospective.
The company said in an announcement that drilling returned multiple high-grade gold intercepts, including 6 metres at 17.9 grams per tonne gold from 55 metres. Mount Hope is now preparing for a Phase 3 drilling campaign, with earthworks and contractor engagement currently underway.
Kiley noted that Mount Solitary shares similarities with the nearby New Occidental deposit within the Peak gold-mining complex. Both systems exhibit comparable structural settings and a strong bismuth association with gold mineralisation.
“The strike extent of New Occidental is about 230 metres long and 30 metres wide, and it’s been drilled off to 1.65 kilometres depth,” the CEO added. “At Mount Solitary we’ve got a strike of a little over 200 metres now … but we’ve importantly only been drilled off to 270 metres, and we remain open in all directions.”
Despite the progress, Kiley emphasised that the company remains undervalued, with a market cap of approximately AU$8 million to AU$10 million and around AU$3.8 million in cash, positioning it for continued exploration growth.
Watch the full interview with Mount Hope Mining CEO Fergus Kiley above.
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