Moho ramps up exploration to expand East Simpson Dam resource
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Junior explorer Moho Resources has started aircore drilling at the Tyrells and Hodges prospects immediately north of its East Sampson Dam (ESD) gold deposit in the Silver Swan North project.
The ~8,000m program will test gold in soil anomalies extending over a strike length of ~2.5km with assays expected in September.
Moho (ASX:MOH) is quietly confident the prospects could host further gold mineralisation at ESD – where earlier this month it announced an interim mineral resource estimate (MRE) of 264,000 tonnes grading 2.5 g/t Au for 21,600 ounces at a 0.5 g/t cut off.
The interim MRE is a major milestone, but the company reckons there’s significant potential to increase it – given that mineralisation is open to the north, south and at depth.
“We are excited by what this aircore drilling program may uncover,” managing director Shane Sadleir said.
“In particular the auger gold in soil anomalism at Tyrells and Hodges suggests the area could host further gold mineralisation to that already identified at East Sampson Dam.”
Ongoing aircore drilling will also test the Happs and Yalumba prospects southeast of ESD in the first half of 2022.
And an RC program in the second half has also been prioritised to find extensions of the ESD resource.
Along with aggressively accelerating its drilling programs, the company plans to appoint a mining engineer shortly to commence a scoping study.
Essentially, it’s aiming to progress mine development at ESD using toll mining.
It makes economic sense to quickly monetise the resource with the deposit just 50km northeast of one of the world’s richest gold districts in Kalgoorlie, with over 20 current and proposed processing plants nearby.
Plus, it could also generate significant income from mining the deposit to fund further exploration activities in future.
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.