Could Croydon be the next major mineral province?
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Special Report: Late last year, newly listed explorer Moho Resources (ASX:MOH) made a “needle in a haystack” gold discovery in an emerging north Queensland minerals province.
There’s a history of gold and polymetallic mining in the Croydon Province dating back to 1885.
But Moho’s Empress Springs project had never been drilled for gold or base metals before it hit significant gold and base metal mineralisation at the Arrowhead prospect.
Discovery hole ESA023 recorded 10m averaging 1.08 g/t gold just 44m from surface, including 2m @ 2. 1 g/t gold, 2.5 g/t silver, 0.26 per cent zinc, and 0.14 per cent.
Importantly, drilling ended in mineralisation.
In February, Moho applied for an additional 2000sqkm of highly prospective ground, mostly adjacent to Empress Springs.
Then fellow explorer Sipa Resources (ASX:SRI) snapped up some ground, just south of Arrowhead, the following month.
Sipa is one of many companies showing a renewed interest in the region — an indication of just how important Moho’s initial discovery really is.
Moho commercial director Ralph Winters said no one was expecting to hit this kind of mineralisation so early.
“It shows we could be sitting on a very large mineralising system here,” he says.
A fresh 24-hole, 2749m drilling campaign to test for gold and base metals down to about 100m vertical depth at Arrowhead has just been completed.
Results from the first four holes around discovery hole ESA023 will be released next week, Moho says.
But the company continues to move quickly. A heritage survey approval has been granted for Moho to drill around the discovery hole at Arrowhead – beyond the recent RC drilling which was constrained to the existing track.
An AC drill rig has been mobilised to site at Empress Springs and will commence drilling very soon, Moho says.
The 70-hole, 7000m drill program will determine the north/south orientation of the mineralisation around the discovery hole at Arrowhead, and test other “favourable geophysical targets” to build a pipeline of prospects across the project area.