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Golden Horse Minerals Confirms High-Grade Mineralization at Western Australia Prospect; Shares Down 5%

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Golden Horse Minerals (ASX:GHM) confirmed high-grade mineralization from regional reverse circulation drilling at the Hakes Find prospect in Western Australia, according to a Wednesday filing with the Australian bourse.

Drilling also confirmed the continuation of mineralization over 500 meters of strike length, with results including 6 meters at 5.9 grams per tonne (g/t) grade of gold from 34 meters within a broader zone of 11 meters at 3.4 g/t grade of gold from 33 meters, the filing said.

High-grade silver was discovered in some holes, and the analysis of gold intercepts showed a strong correlation with elevated levels of silver, arsenic, and lead.

Meanwhile, the company started the inaugural reverse circulation drilling program at the Greenmount project, per the filing.

Shares fell nearly 5% in midday trade Wednesday.

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