Golden Horse Minerals (ASX:GHM) said drilling at the Hopes Hill project in Western Australia intersected a high-grade zone of mineralization, according to a Thursday Australian bourse filing.
The drilling results highlight a potential for increasing grade and width with depth, with a significant intercept of 43 meters at 4.5 grams per tonne grade of gold from 103 meters.
The reverse circulation drilling program was designed to confirm historical drill data and test the potential of the mineralization. The firm said drilling at Hopes Hill will continue to test mineralization at increasing depth below the existing pit.
Golden Horse Minerals' shares surged 25% in recent trading on Thursday.
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