Moho confirms gold discovery at Empress Springs, reveals new find on the rim of an ancient volcano
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Special Report: Drilling has hit more gold and base metals at Moho Resources’ Arrowhead prospect – a potentially region-defining discovery in an emerging Queensland minerals province.
Late last year, newly listed explorer Moho Resources (ASX:MOH) made a “needle in a haystack” gold discovery at its Empress Springs project in the exciting Croydon minerals province.
Discovery hole ESA023 recorded 10m averaging 1.08 grams per tonne (g/t) gold just 44m from surface, including 2m at 2.1g/t gold, 2.5g/t silver and 0.26 per cent zinc. Importantly, drilling ended in mineralisation.
The latest drilling, which was restricted to 2.2km along existing tracks, has significantly extended the extent of mineralisation laterally and vertically around ESA023.
Fresh results included 12m at 1.4g/t gold from 46m, inside a larger 22m section grading 1g/t.
And the gold at Arrowhead is definitely located in a broader zone of copper, lead and zinc sulphide mineralisation, Moho says.
This strong gold and lead-zinc-copper correlation at Arrowhead was confirmed when nine of the 15 drill holes assayed to date intersected anomalous base metals.
Now, a 7000m aircore drill program is underway at Arrowhead to determine extent and orientation of mineralisation within the new heritage-cleared area.
This means the company can drill off existing tracks for the first time.
Drilling also revealed a completely new zone of mineralisation hole (shown in orange above) about 1.3km away from the original discovery hole.
The highly anomalous zone of base metal sulphides and pathfinder elements were identified near the rim of Caldera – a large, cauldron-like hollow formed by an ancient volcano.
Globally, Calderas are known to host rich ore deposits. The massive Lihir gold mine in PNG, for example, is located within the Luise Caldera, an extinct volcanic crater.
The new discovery “may represent a halo to gold mineralisation in a zoned hydrothermal system”, according to CSA Global’s Dr Carl Brauhart.
Additional drilling in the heritage cleared area near the caldera is planned to determine the nature and extent of this base metal/pathfinder anomalism and any gold mineralisation, Moho says.
First results from this new drilling program is expected in late July.
“Our highly experienced technical team has done a tremendous job in identifying and extending the gold mineralisation under cover at the Arrowhead prospect since listing in November,” says Moho managing director Shane Sadlier.
“It confirms our initial assessment that Empress Springs has the potential to host major mineralised systems.”