Mount Hope Mining sets sights on new copper targets in Cobar Basin
Cobar stands as one of the oldest mining hubs in New South Wales, having produced 3 million tonnes of copper metal and over 2 million ounces of gold across more than 140 years of semi-continuous activity. The region has also yielded substantial amounts of lead, zinc and silver, cementing its status as a key player in Australia’s mining industry.
Among its most notable operations is MAC Copper’s (ASX:MAC) CSA copper mine, one of the country’s highest-grade producers, alongside Polymetals Resources’ (ASX:POL) Endeavor silver-zinc mine, which is set to resume production. The area is also home to Aurelia Metals’ (ASX:AMI) Hera and Peak sites, as well as the newly developed Federation mine, known for its rich zinc deposits.
Exploration in Cobar isn’t just confined to existing mines. Recent drilling campaigns have uncovered promising new discoveries, such as Peel Mining’s (ASX:PEX) Wagga Tank and Mallee Bull polymetallic deposits.
Mount Hope has its own long history of mining, with operations dating back to 1878. Over a 41-year period, the site processed 75,000 tonnes of ore at an impressive grade of 10.5%, before mining ceased in 1919. In 1942, it briefly resumed, producing over 4,000 tonnes of copper from workings that reached just 113 metres deep.
Today, the potential for renewed development has been reinforced by the reprocessing of historical and open-file aeromagnetic datasets, generating high-resolution magnetic imagery that highlights a major structural framework. This new data provides fresh insights into how gold and base metal mineralisation may be distributed across the project area.
For Mount Hope Mining (ASX:MHM), the improved structural interpretation has been a game-changer, helping refine exploration targets across the site.
“The completion of this aeromagnetic data reprocessing is a significant milestone in our exploration efforts at Mount Hope,” said MHM managing director and chief executive Fergus Kiley.
“These enhanced interpretations give us a stronger grasp of the geological structures influencing potential mineralisation, reinforcing our exploration models and setting a solid foundation for the next phase of work.”
The refined targets are located near historic mines and known mineralised zones, including Mount Hope, Comet, Great Central, Mount Solar and Mount Solitary. All of these sites are positioned at or near major fault intersections, key locations for mineral deposits.
“By integrating this data with our recently launched ground gravity survey and soil sampling program, we’re applying a methodical, data-driven approach to refining our drill targets and unlocking new exploration potential,” Mr Kiley added.
“With these fundamental elements in place, our focus now turns to developing a 3D geological model and advancing our drill targeting strategy as we move closer to planning our maiden drill campaign.”
In addition to defining primary drill targets, the new data has revealed several previously unrecognised prospective zones. MHM plans to conduct soil geochemistry testing in these areas to assess whether any anomalies align with known surface base or precious metal mineralisation.