Moho is getting to grips with its underexplored Silver Swan North nickel play
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With nickel continuing to command premium pricing – and signs it will stay that way – the time couldn’t be more right for Moho to pivot towards the battery metal.
From when Moho listed in late 2018 and got its hands on the Silver Swan North project, located a stone’s throw from Poseidon’s Black Swan nickel processing operations, Silver Swan’s footprint has grown by almost five times.
Moho Resources (ASX:MOH) is understandably keen to get stuck in at its project given that Poseidon Nickel’s drilling in the adjoining Black Swan prospect returned an eye-watering 15m intersection grading 17.92% nickel from a depth of 285m.
There is also potential for a quick turnaround from any successful exploration to production as Poseidon’s Black Swan nickel operation – poised to restart in about 12 months – has oodles of spare capacity.
Combined with a severe nickel supply squeeze compounded by sanctions on Russian miner Norlisk Nickel, (which produces about 17% of the sulphide-rich material that is so suited for electric vehicle batteries), along with a projected 14% compound annual growth rate for EVs, and you have all the reasons needed for a big exploration push.
First up is a 500m long magnetic anomaly about 4km south of Poseidon’s Black Swan mine that has no ground electromagnetic (EM) coverage and just three diamond holes that were drilled by previous operator Norilsk in 2008 to a maximum depth of 251m.
Moho reported that their re-evaluation of the downhole electromagnetic (DHEM) data on the deepest hole drilled has identified a possible off-hole conductor about 100 metres from the bottom of the hole.
The company plans to carry out ground EM over the magnetic anomaly to flesh out targets for an RC drilling program which will be followed up with DHEM surveys.
A review of historical geochemistry is also pending.
This article was developed in collaboration with Moho Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.