Moho could be bringing in $$ from its East Samson Dam gold mine by August next year
Special Report: Moho is drilling out the high-grade East Samson Dam gold prospect. If results line up as expected, the explorer will fast-track to first production in mid-to-late 2020.
East Samson Dam is part of Moho’s (ASX:MOH) highly promising Silver Swan North nickel-gold project, 50km from the regional mining hub of Kalgoorlie in WA.
In September 2018, Moho’s very first drilling program at East Samson Dam discovered new zones of high-grade gold.
Multiple zones of gold mineralisation were encountered during the ~2000m campaign. MRC012 intersected 2.0 m @ 12.8 g/t Au from 48m; 3.0 m @ 1.63 g/t Au from 84m; and 3.0 m @16.3 g/t Au from 100m (including 1.0 m @ 42.6 g/t Au from 100m). As a rule of thumb, anything above 5g/t is considered high grade.
And Moho has, so far, reported these high-grade hits over about 220m strike length.
With gold prices expected to remain robust in 2020, the project — well located and close to third party mining infrastructure — is considered a lucrative near-term production option by Moho.
Early cashflow is a huge benefit to shareholders. It means Moho won’t have to tap the market for cash as often (diluting existing shareholders) to progress its larger projects.
Now the explorer wants to extend and further delineate this promising find with a new seven-day, 30-hole barrage.
The plan is to infill between sections and extend the gold mineralisation along and across strike, Moho says.
Assay results are expected in January, and a potential maiden gold resource in February.
Concurrently, Moho has commissioned a flora and fauna survey of the area around East Samson Dam and heritage survey to get the ball rolling on a potential mining operation.
If the current drilling results are sufficiently encouraging, a consultant mining engineer will prepare a detailed mining proposal and metallurgical test work will be undertaken.