Mount Hope Mining (ASX:MHM) has been granted a new exploration licence contiguous to its namesake project in the Cobar Basin of New South Wales.
The exploration licence, covering 247km2, expands Mount Hope’s landholding from 175km2 to 422km2.
Mount Hope says the licence area was specifically targeted following an extensive review of historical surface geochemical data, including more than 15,000 historic samples.
The review uncovered multiple Cobar-style polymetallic anomalies including priority targets spatially coincident with the Scotts Craig Fault within the newly granted tenure.
Mount Hope says these insights provide a robust technical framework to guide upcoming exploration work programs.
Exploration activities are being progressed across multiple priority targets within the existing and newly granted tenure. The activities include soil geochemistry, ground geophysics, geological mapping, and drill targeting.
CEO Fergus Kiley says the area hosts key structural corridors that the company believes are prospective for discovery and complement the broader exploration strategy across the Mt Hope Project.
“This is not greenfield acreage — we have already demonstrated anomalous geochemical responses along the Scotts Craig Fault based on extensive regional compilation work,” Kiley says.
The Mount Hope Project hosts the historical mining centres for copper and gold in the southern part of the Cobar Basin. These centres are the Mount Hope, Comet, and Great Central copper mines, as well as the Mount Solitary and Solar gold mines.
Mount Hope Mining is an explorer focused on discoveries in the southern Cobar Basin in New South Wales — which is among one of Australia’s historical mining regions.
The Cobar Basin has a rich mining history, transitioning from copper and gold in the late 1800s to base metals in the 20th and 21st centuries.
Write to Aaliyah Rogan at Mining.com.au
Images: Mount Hope Mining
