Moho Resources (ASX: MOH) is a mining and exploration company having high prospects of gold and nickel across Queensland and Western Australia. The company is currently exploring its three projects:
- The Empress Springs Gold Project comprising of three adjacent exploration permits for mineral exploration over an area of 773 square km
- The Silver Swan North Project with high prospects of gold and nickel mineralization spread over an area of 55 square km, and
- The Burracoppin Project being the emerging gold-rich greenstone belt.
In July 2015 Moho Resources Limited entered into a farm-in and joint venture agreement with Odin Metals Ltd (Odin), a mineral exploration company exploring gold and silver deposits in Australia, to earn up to 70% interest in M27/263 and E27/345 at the Silver Swan North Project. The Silver Swan North project also includes a few of Moho’s 100% owned tenements.
Today, the company announced the results of high-grade gold assay being returned from individual 1 meter of recent RC drilling Moho’s East Samson Dam prospect on M27/263 at the Silver Swan Project including 1.0 m @ 42.6 g/t Au from 100m from drill hole-MRC012 and many more.
The 1-meter sampling program was carried out to follow up the exceptional 4-meter composite assay results which were released to the ASX on 16 November 2018. One aircore hole and 21 reverse circulation holes were drilled in September 2018 for a total of 2,079m.
On 12th November 2018 Moho announced that as per the terms of the farm-in agreement, it had provided Odin with what it believes is sufficient evidence that it has now earned a 51% legal and beneficial interest in M27/263 and E27/345.
MOH is encouraged by the latest results at the Sampson Dam East prospect as well, which demonstrates the high-grade nature of the gold mineralization and extend the mineralized zone along strike for at least 220m. Of interest are the various gold zones observed down-hole, including near-surface supergene enrichment and multiple zones of primary gold mineralization at depth.
Further, the company plans for the integration of new assay results with other geological and geophysical data, including recently acquired gravity survey and available airborne magnetic data. MOH is also looking to construct a new long section. The company is also looking towards planning and implementation of follow-up RC drill program in early 2019 to define limits of gold mineralization at East Samson Dam Prospect and test new target areas.
On 7 December 2018, the WA government announced a grant of $150,000 to MOH under the Exploration Incentive Scheme (EIS) to pay for 50% of the drilling cost associated with a planned drilling program at the Silver Swan North Project.
On 26 November 2018, the company announced the updates at the Empress Springs Gold Project in Queensland with 49 RC and AC reconnaissance drill holes being completed till date, almost 95% comprehensive soil geochemical survey is completed, and nearly 85% detailed ground-based gravity survey being completed.
Over the past one month, the scrip price has dipped by 10% falling from 15 cents on 12 November 2018 to 14 cents today. The scrip price is up by 3.7% today as compared to the previous close.
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