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Mount Hope Mining Limited (ASX: “MHM” or the “Company”) is pleased to announce its maiden drill program has commenced at its 100%-owned Mt Hope Project in New South Wales (Figure 1).
Highlights:
- Inaugural drill program comprises ~4,800m of Reverse Circulation (“RC”) and Air Core (“AC”) drilling across four priority targets.
- Drill campaign includes high-confidence infill and extensional drilling at Mt Solitary, which boasts an Exploration Target range of 1.32 to 1.87Mt of 1.0 to 1.35 g/t Au for 42.5 to 81.4 Koz (Table 1).
- The new Blue Heeler prospect, hosting coincident MLTEM conductors, is located approximately 200m west of historical drill hole GCS-1, which included a historical intercept of 31m @ 0.42% Zn, 0.26% Pb, 117 ppm Cu and 4.8 ppm Ag from 56m
- The Mt Hope East and Black Hill prospects, hosting coincident geochemical and geophysical anomalies, have never been tested by drilling.
The inaugural drilling campaign will test four priority targets for a total of ~4,800m of Reverse Circulation (RC) and Air Core (AC) drilling, including the recently added Blue Heeler target (see ASX announcement, 15 July 2025 &22 August 2025).
Mount Hope Mining Managing Director & CEO Fergus Kiley commented:
“Mount Hope Mining is excited to commence its maiden drill program at the Mt Hope Project - a significant milestone in our journey towards unlocking the potential of the southern Cobar Basin.
“Each priority prospect represents a high conviction drill target, backed by high-quality geological science, and we look forward to exploring these areas further.
“We believe these four priority areas represent a good opportunity to create shareholder value via true greenfield exploration success or by delineating valuable ounces for future development.
“We look forward to keeping shareholders updated with strong news flow throughout the remainder of Q3 and into Q4 with the results from the exploration drilling, along with the metallurgical test work for Mt Solitary, and with our other early-stage exploration programs.”
Figure 1: RC Drill rig commences drilling the Mt Solitary Program
Mt Solitary Exploration Target
Table 1: Mt Solitary Exploration Target2
The potential quantity and grade of the Exploration Target are conceptual in nature. As such, there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in a Mineral Resource. The Exploration Target has been prepared by the JORC Code 2012.
Maiden drilling campaign at the Mount Hope Project
The inaugural Mt Hope maiden drill program has commenced drilling, starting at the Mt Solitary prospect to convert the existing Gold Exploration Target (Table 1) to a JORC (2012) Mineral Resource Estimate (MRE).
The initial phase 1 RC program at Mt Solitary will consist of ~1,500m (Figure 2). The drill rig will then mobilise to test the greenfield polymetallic drill targets at Blue Heeler and Black Hill before finishing the program at Mt Hope East.
The Company has engaged ALS Laboratories in Orange, NSW, for analytical work. Samples from the maiden drilling campaign will be sent to Orange throughout the program, with sample preparation analysis to be completed at the same facility.
Click here for the full ASX Release
This article includes content from Mount Hope Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here
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Mount Hope Mining
Investor Insight
Mount Hope Mining’s strategic location in the prolific and resource-rich Cobar Basin, which has seen increased activity in recent years, signifies the company’s compelling investment proposition.
Overview
Mount Hope Mining (ASX:MHM) is an Australian resource company specializing in copper and gold exploration. With its flagship project located in the Cobar Basin of New South Wales, Australia, the company leverages the region's rich mining history and underexplored potential. On August 30, 2024, Mount Hope transitioned to a public company to attract investments for its ambitious mineral exploration goals.
Mount Hope Mining's acquisition of Fisher Resources, a wholly-owned subsidiary of Unico Silver Limited, has provided it with full control over the Mount Hope project. This project spans four tenements covering approximately 175 square kilometers, located in the southern Cobar Basin, a region with a longstanding history of copper and gold mining dating back to the 1870s.
The Cobar Basin has seen a flurry of significant mining activities in recent years, underscoring the region's robust potential for polymetallic resource development. In August 2024, Polymetals Resources (ASX:POL) finalized the acquisition of the Endeavor Mine, located 40 kilometers north of Cobar, which boasts JORC-compliant resources of 16.3 million tonnes grading 8 percent zinc, 4.5 percent lead, and 84 grams per ton (g/t) silver. In 2023, Metals Acquisition (NYSE:MTAL) successfully acquired the CSA copper mine from Glencore, further signalling the growing investment attractiveness of the Cobar Basin as a major hub for copper production.
These activities highlight a dynamic and competitive landscape that Mount Hope Mining can leverage for its own exploration strategy.
The strength and vision of Mount Hope Mining's leadership are critical to its success. The company boasts an experienced and dynamic board and management team, each member bringing a wealth of expertise in mineral exploration, corporate governance, and strategic planning. Their collective experience in mining, resource development, and financial oversight ensures the company is well-equipped to meet its objectives.
Company Highlights
- Mount Hope Mining is a copper and gold exploration company based in Australia
- The company holds 100 percent ownership of the Mount Hope project in the prolific Cobar Basin, comprising four tenements spanning 175 sq km
- The Cobar Basin has long history of copper and gold mining dating back to the 1870s, and recently experiencing increased M&A activity.
- Mount Hope has identified key zones of interest within the project and will be the target for near-term phased exploration
- The company’s experienced and dynamic board and management team, bring a wealth of expertise in mineral exploration, corporate governance, and strategic planning.
Key Project
Mount Hope
The Mount Hope project is Mount Hope Mining’s flagship exploration initiative, located in the southern Cobar Basin of New South Wales, Australia. This project spans approximately 175 square kilometers across four granted exploration tenements: EL6837, EL8058, EL8290 and EL8654. The region is historically significant for its rich copper and gold deposits and has contributed substantially to Australia’s mining output since the 1870s. Despite its long-standing mining heritage, the southern Cobar Basin remains underexplored, presenting a unique opportunity for Mount Hope Mining to utilize modern exploration techniques to uncover untapped resources.
The project area encompasses several historical mining sites, including the Mount Hope, Comet and Great Central copper mines, alongside the Mount Solitary and Solar gold mines. These sites, although historically productive, have seen limited contemporary exploration, leaving substantial potential for discovering residual and new deposits.
Geology and Targets
The Mount Hope project is characterized by volcanic and sedimentary sequences with structural features conducive to hosting polymetallic deposits, particularly copper and gold. Fault zones and folding within the tenements act as pathways for mineralization, creating promising exploration targets.
Mount Hope Mining has identified key zones of interest within the project area, including Mount Hope East, Black Hill, Main Road East, Little Mount Solitary, and the Mount Solitary to Solar Trend. These targets are prioritized for exploration based on historical mining data and geophysical anomalies. The company plans to implement a phased approach to exploration, beginning with geophysical and geochemical surveys to refine target zones, followed by drilling campaigns to confirm mineralization and assess the economic viability of the deposits.
Strategic Location
The Mount Hope project benefits from its strategic location within the Cobar Basin, an established mining district with access to infrastructure and services. The recent resurgence of mining activity in and around the Cobar Basin, as demonstrated by Polymetals Resources’ acquisition of the Endeavor mine, and Metals Acquisition’s purchase of the CSA copper mine, underscores the region’s significance as a hub for resource development.
Mount Hope Mining aims to build on this momentum, leveraging both historical data and cutting-edge exploration methodologies to maximize the project’s potential. With its focus on copper and gold, commodities essential to green technologies and global markets, the Mount Hope project is well-positioned to contribute to the growth of Mount Hope Mining and the broader Australian resource sector.
Management Team
Fergus Kiley – Managing Director and CEO
Fergus Kiley plays a pivotal role in driving Mount Hope Mining’s exploration and growth strategies. He previously served as Senior Geologist and Technical Business Development Lead at Wyloo, one of Australia’s largest private natural resources investment groups. This role honed his expertise in exploration, geological modeling and project evaluation. Kiley also serves on the board of Grand Gulf Energy (ASX:GGE) and has over a decade of experience managing exploration programs for various ASX-listed companies. His leadership at Mount Hope focuses on leveraging modern exploration techniques and building partnerships to unlock the potential of the Mount Hope project.
Ben Phillips – Non-executive Chairman
Ben Phillips provides strategic oversight and governance to Mount Hope Mining. Appointed on July 5, 2024, he plays a vital role in ensuring the board operates effectively and aligns with the company’s objectives. Phillips’ leadership in other ventures and his focus on strong corporate governance bring additional credibility to Mount Hope’s public presence. His insights into the mining sector and his strategic vision position the company for sustainable growth.
Todd William – Non-executive Director
Todd Williams brings significant expertise in mining exploration and operations, particularly within the Cobar Basin. He is currently the managing director of Unico Silver (ASX:USL) and a Non-executive director of Orpheus Uranium (ASX:ORP). As the former owner of the Mount Hope project through Unico, William's historical knowledge of the tenements is an invaluable asset. His extensive work in the region strengthens Mount Hope’s technical and operational strategies.
Advancing a copper and gold-rich asset in the prolific Cobar Basin of New South Wales
Top 5 Canadian Mining Stocks This Week: Guardian Exploration Gains 94 Percent
The projects include the Phase 2 expansion of LNG Canada’s Kitimat facility, which will double capacity of liquified natural gas to 28 million metric tons per annum, the development of Foran Mining's (TSX:FOM) McIlvenna Bay copper-zinc mine in Saskatchewan, and an expansion of Newmont (TSX:NGT,NYSE:NEM,ASX:NEM) and Imperial Metals' (TSX:III) Red Chris copper-gold mine in Northern British Columbia.
Carney also stated that a second set of projects would be announced before the CFL’s Grey Cup on November 16.
In major M&A news, mining giants Teck (TSX:TECK.B,TSX:TECK.A,NYSE:TECK) and Anglo American (LSE:AAL,OTCQX:AAUKF) announced on Monday (September 8) that they would combine in a US$70 billion “merger of equals.” If approved, the resulting company will be called Anglo Teck, and will be headquartered in Vancouver, British Columbia.
In a news release, Teck said the deal would create US$800 million in pre-tax recurring annual synergies by year four, with US$1.4 billion in pre-tax yearly earnings from optimizations at the adjacent Collahuasi and Quebrada Blanca copper mines in Chile.
Barrick Mining (TSX:ABX,NYSE:B) announced on Wednesday (September 10) that it had reached an agreement to sell its Hemlo Gold Mine in Ontario to Carcetti Capital, which will be renamed Hemlo Mining, for gross proceeds of US$1.09 billion through a combination of cash and shares.
The sale marks Barrick's continued divestment of non-core assets following the sale of its Donlin and Alturas projects earlier in the year.
Also, this week saw the TSX release its annual TSX30 top companies list, which included 17 resource companies, 15 of which are precious-metals-focused. The top three precious metals stocks were Lundin Gold (TSX:LUG,OTCQX:LUGDF), Avino Silver & Gold (TSX:ASM) and New Gold (TSX:NGD,NYSE:NGD). The top overall company was Celestica (TSX:CLS), which focuses on AI supply chain optimizations.
In other TSX news, Newmont applied to delist its shares from the exchange on Wednesday citing low trading volumes. The company has been looking to cut overhead in recent years, and the move could lower administrative costs and improve efficiency, Reuters reports.
South of the border, the US Bureau of Labor Statistics released its consumer price index data on Thursday, which showed inflation had ticked up to 2.9 percent over the same period last year. The numbers, along with last week’s weak jobs report, will be factors for the Federal Reserve when it meets for its September meeting next week.
As of Friday afternoon, over 95 percent of analysts are expecting the central bank to make a 25 point cut to the rate, bringing it to the 4 to 4.25 percent range.
For more on what’s moving markets this week, check out our top market news.
Markets and commodities react
Canadian equity markets were mostly positive this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) set another new record high on Thursday, climbing to 29,409.74 before retreating to end the week up 0.97 percent to 29,283.82.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) performed even better, climbing 3.67 percent to finish Friday at 879.67. However, the CSE Composite Index (CSE:CSECOMP) went the opposite direction, shedding 2.17 percent to end the week at 153.81.
The gold price was in focus again this week as it climbed to a new record high of US$3,667 per ounce on Tuesday, as analysts predict a rate cut by the Federal Reserve when it meets next week. Gold ended the week up 2.74 percent at US$3,642.70 per ounce.
Silver had a similarly explosive week, climbing past US$42 per ounce for the first time since 2011 and gaining 3.82 percent on the week to close Friday at US$42.16.
Copper also saw gains this week rising 2.17 percent to US$4.65 per pound. Meanwhile, the S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) posted a slight decrease of 0.1 percent to end the week at 548.34.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Guardian Exploration (TSXV:GX)
Weekly gain: 94.44 percent
Market cap: C$14.34 million
Share price: C$0.175
Guardian Exploration is an exploration and development company with a portfolio of oil and gas and mineral properties.
Among its properties is the Sun Dog gold project covering an area of 9,415 hectares in the Kivalliq Region in Nunavut, Canada. The site is located near the historic Cullaton Lake mine, which produced 100,000 ounces of gold between October 1981 and September 1985.
The company acquired the project on May 2 from New Break Resources (CSE:NBRK). Under the terms of the deal, Guardian received a 100 percent interest in the property, along with mineral rights and 60 drums of Jet A fuel in exchange for 5 million shares and a cash payment of C$75,000.
Guardian also reimbursed New Break C$18,830 for annual rent and granted New Break the option to buy back a 20 percent interest in the property for C$1.00.
The most recent news from the project came on Monday, when the company reported that it is commencing a one-month field program at the site that will include geological mapping, soil sampling and trenching. Guardian plans to perform follow-up exploration and drilling in 2026.
2. Sokoman Minerals (TSXV:SIC)
Weekly gain: 80 percent
Market cap: C$13.57 million
Share price: C$0.045
Sokoman Minerals is a discovery-oriented company with a portfolio of gold projects and one of the largest land positions in Newfoundland and Labrador, Canada. It also owns a 40 percent stake in the Killick lithium project, a 40/40/20 joint venture with Benton Resources (TSXV:BEX,OTC:BNTRF) and Piedmont Lithium (OTC Pink:PLLTL).
Its primary focus is on its flagship Moosehead gold project located in Central Newfoundland. The advanced project consists of 98 claims covering 2,450 hectares and hosts an orogenic Fosterville-style gold system, according to Sokoman. The company has defined seven zones with high-grade mineralization through over 130,000 meters of drilling.
Sokomon announced on Friday that it was commencing diamond drilling at the site with the focus on testing the Eastern and Western Trend gold zones for depth extensions as well as undiscovered parallel zones. The drill holes will test to a depth of 1,000 meters.
Additionally, the company reported on September 2 that it expanded its land position at its Crippleback Lake gold-copper property to 13,000 hectares and planned to mobilize for induced polarization surveys, sampling and mapping of the site immediately.
3. CopAur Minerals (TSXV:CPAU)
Weekly gain: 61.11 percent
Market cap: C$11.84 million
Share price: C$0.145
CopAur is a gold exploration and development company advancing its flagship Kinsley Mountain oxide gold project in Nevada, United States.
The project is home to a historic open pit gold mine that produced approximately 138,000 ounces between 1995 and 1999. According to the project page, the property hosts an indicated mineral resource of 418,000 ounces of gold with an average grade of 2.63 grams per metric ton (g/t) gold.
On August 7, the company announced that it was shifting its full focus to advance work at its Kinsey Mountain project.
The company’s most recent news came on Monday when it reported that it had hired Andrew Neale as its new CEO. Neale brings more than 35 years of mining experience to CopAur and has held senior positions with Freeport-McMoRan (NYSE:FCX) where he oversaw operations at its Grasberg copper-gold mine in Indonesia.
The company added that it was currently awaiting a decision from the Nevada Bureau of Land Management on a pair of permits for the Kinsey Mountain site, with one allowing it to test for reclamation at the heap leach pad and the other to allow it to restart production.
4. Silver North Resources (TSXV:SNAG)
Weekly gain: 60 percent
Market cap: C$26.72 million
Share price: C$0.40
Silver North Resources is primarily focused on advancing a portfolio of silver assets in the Yukon, Canada.
Its flagship Haldane silver project covers an area of 8,164 hectares in the Yukon’s Keno Hill Silver District and has seen silver exploration dating back to the late 1800s. The property hosts several deposits, including the Main Fault and the West Fault targets, which have produced high-grade silver assays up to 3,267 g/t over 1.26 meters at the West Fault and both zones hosting additional amounts of gold, lead, and zinc.
The company announced on August 15 that it commenced a 10 hole drill program at Haldane to follow up on the discovery of the Main Fault zone in 2024.
Additionally, the company announced on August 20 that it had begun its initial exploration program at the Veronica property at its GDR project in the Yukon. The program is eligible for partial funding up to C$30,000 as part of the Yukon Mineral Exploration Program.
5. Blue Star Gold (TSXV:BAU)
Weekly gain: 53.12 percent
Market cap: C$25.67 million
Share price: C$0.245
Blue Star Gold is a gold exploration and development company operating in Nunavut, Canada.
Its flagship asset is the Ulu gold project, which includes the Ulu mining lease and the Hood River property, together forming a 12,000 hectare land package. The property features a renewable 21 year mining lease for the advanced-stage Flood Zone deposit.
As per a February 2023 updated mineral resource estimate (MRE), Ulu holds a measured and indicated resource of 572,000 ounces of gold from 2.54 million metric tons of ore at an average grade of 7.02 g/t gold, along with an additional inferred resource of 303,000 ounces of gold from 1.28 million metric tons of ore at 7.34 g/t.
Blue Star also owns the Roma gold project, located on 11,532 hectares of crown mineral claims and 4,119 hectares of mineral exploration agreements in Nunavut's High Lake greenstone belt.
On Wednesday, Blue Star reported results from surface samples at its Auma prospect at Roma. The company said it had collected a total of 133 samples, with 44 returning gold grades above 1 g/t, including two samples with grades of 151 g/t and 125 g/t gold. The sampling program extended Zone 3, which is untested by drilling, by an additional 35 meters for a strike length of 130 meters.
Additionally, Blue Star also found high values of copper in quartz veining, with one sample producing a grade of 7.64 g/t gold and 4.2 percent copper.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.
Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Top 5 Canadian Mining Stocks This Week: Kirkland Lake Discovery Gains 88 Percent
Top 5 Canadian Mining Stocks This Week: Kirkland Lake Discovery Gains 88 PercentTop 5 Canadian Mining Stocks This Week: San Lorenzo Gold Shines with 329 Percent GainArticle by Dean Belder; FAQs by Lauren Kelly.
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Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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