Black Horse Mining starts 500m deep drilling

• Black Horse Mining has commenced drilling at its Mt Egerton Gold Project targeting nominal hole depths of 500m.
• Following the announcement, the company's share price closed down at $0.175.
• The exploration campaign aims to accurately locate historic underground workings and validate a 3D geological model.

Black Horse Mining (ASX:BHL) has commenced drilling operations inside the Waste Transfer Facility at its Mount Egerton Gold Project in Victoria to target nominal hole depths of 500 metres.

This new exploration phase follows the company's maiden drilling programme conducted after its listing on the Australian Securities Exchange in late 2025.

“We are excited to begin the deeper testing of the stratigraphic and structural setting of the mineralised system and the 3D model of the historical workings,” said Black Horse Mining Managing Director David Frances.

The company stated that a high-capacity diamond rig is expected to begin drilling deeper targeted holes within the next 10 days.

Following the announcement, the Black Horse Mining share price was down at $0.175.

Work to re-establish the Sister Rose portal and adit is expected to be underway within the next few days following the completion of box-cut clearing work.

These engineering and exploration activities are designed to provide the necessary data to position the historic underground workings accurately within a 3D model.