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Black Horse Mining Ltd. ( (AU:BHL) ) has shared an announcement.
Black Horse Mining completed its maiden diamond drilling program at the Mt Egerton Gold Project, reporting exceptional high-grade, near-surface gold mineralisation from several holes, including intercepts with assays up to 46.2 grams per tonne gold. The company integrated ground magnetotelluric and reprocessed ground-penetrating radar data into a 3D geological model and is now preparing deeper drill testing to expand its understanding of the high-grade zone.
During the quarter, Black Horse also intersected historical underground workings that support the structural interpretation of Mt Egerton as analogous to Bendigo-Ballarat high-grade systems. On the corporate front, the company strengthened its leadership team with the appointment of a new executive director and chief financial officer, and ended the period with a cash balance of $5.54 million, providing funding for the next phase of exploration.
More about Black Horse Mining Ltd.
Black Horse Mining Ltd is an Australian exploration company focused on gold projects, with its flagship Mt Egerton Gold Project in Victoria. The company advances high-grade, near-surface gold targets through diamond drilling and geophysical modelling, aiming to define economically viable resources within a historically productive goldfield region.
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Technical Sentiment Signal: Strong Sell
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