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Golden Horse Minerals Delivers 'Solid' Drilling Results From Western Australia Project, Says Euroz Hartleys

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Golden Horse Minerals (ASX:GHM) reported "solid" drilling results from its Hopes Hill gold project in Western Australia, with "wide widths and good grades" at depth, according to a Wednesday Euroz Hartleys note.

Results yielded nearly 17 meters at 3.4 grams per tonne grade of gold from 392 meters, including five meters at 9.9 g/t grade of gold from 399 meters, 21 meters at 1.5 g/t grade of gold from 215 meters, including 13 meters at 2.1 g/t grade of gold from 221 meters, according to a Wednesday Australian filing.

Hopes Hill could support about 1 million ounces of gold resources at around 1.5 grams per tonne, based on an estimated 20 million tonnes of material, providing around seven years of mill feed and supporting production of about 100,000 ounces per year, the research firm said.

Euroz Hartleys maintained its speculative buy rating on Golden Horse Minerals with a price target of AU$1.17.

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