Moho now owns the major slice of near-term potential money maker East Sampson Dam
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Special Report: An increase to 70 per cent stake in the granted Mining Lease incorporating the high-grade East Sampson Dam gold prospect comes as Moho (ASX:MOH) looks to propels the project towards an early development decision.
In early February, Moho caught a +200 per cent rocket after the WA explorer was able to extend known high-grade gold mineralisation at the East Sampson Dam prospect.
Results from the explorer’s second drilling program at the prospect, about 50km from Kalgoorlie, included 2m at 24.61 grams per tonne (g/t) gold inside a larger 5m intersection grading 10.36g/t gold, 54m from surface.
Moho has now completed its stage-three commitment as per the farm-in and JV agreement with Odin Metals (ASX:ODM) to earn an additional 19 per cent in M27/263 on top of its previous 51% interest.
“We want to be a self-funded explorer,” Moho’s Ralph Winter told Stockhead.
“If we have positive cash flows coming in from projects — with East Sampson Dam being potentially the obvious first one to go into production — we can utilise that money to expand exploration across our wider portfolio.”