Golden Horse Minerals (ASX:GHM) continues to have a "catalyst-rich" period ahead after releasing further drill results from its Hopes Hill project in Western Australia, Euroz Hartleys said in a Thursday note.

The company identified wide and high-grade gold mineralization at the project, with results of up to eight meters at 9.1 grams per tonne grade of gold from 124 meters, including four meters at 17.4g/t grade of gold from 128 meters.

Further positive results showed continued strike extensions to the south and indicated a grade uplift in the southern part of the deposit, Euroz Hartleys said.

Four rigs are currently active, with about 100,000 meters of drilling to be conducted this year.

The company also applied for two mining leases north of the deposit.

A maiden mineral resource estimate is scheduled for release between the year and early next year.

Euroz Hartleys reaffirmed its speculative buy recommendation and AU$1.17 price target on Golden Horse Minerals.

Golden Horse Minerals shares rose 4% in midday trade on Thursday.