Moho Resources is cashed up and back on the hunt after innovation delivers R&D rewards
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Moho Resources has filled its coffers to go hard on new exploration across its WA nickel and gold projects thanks to rich government rewards for some outstanding Aussie disrupting.
As a bit of a champion of Aussie innovation, Moho Resources (ASX:MOH) is starting the year swimming in the federal government’s refundable tax offset, issued for forward thinking R&D at the Silver Swan North and Burracoppin projects in WA as well as for the team’s work at Empress Springs in Queensland over 2020-21.
The offset will help bolster MOH’s broad exploration ambitions with its highly prospective gold and nickel assets.
The company worked with Australia’s top science body the CSIRO and external advisors to identify a major new anomalous gold zone stretching over 90km last year at Empress Springs by using a regional hydrogeochemistry borehole sampling initiative.
The hit has been described by legendary geologist Jon Hronsky as a potentially significant new gold and base metals province.
Already looking ahead, Moho managing director Shane Sadleir says the innovation refund will go straight to where shareholders and the MOH team want, being to fund more exploration across Moho’s super-prospective projects.
“This R&D tax refund represents a major addition to Moho’s ongoing exploration budget.
“It also underlines the contribution that R&D makes in the company’s exploration processes targeting significant mineral discoveries within our highly prospective portfolio of battery and precious metal projects,” he added.
Moho recently snapped up a key tenement next to Poseidon Nickel’s (ASX:POS) Black Swan nickel mine which will be part of exploration activities early this year.
The tenement is close to turf where Poseidon struck 15m at a ludicrous 17.92% nickel last year, albeit around 285m downhole.
The program at E27/623 will focus on target generation prior to EM surveys and drilling and will comprise activities such as a review of available historic exploration data, field mapping and sampling, rock chip collection, geophysical data reprocessing, and systematic soil sampling.
It is also chasing up positive aircore results from its Tyrells and Hodges prospect, which have pointed to Moho’s potential to build on the 21,600oz of gold it holds in resources at the East Sampson Dam deposit near Kalgoorlie.
Reverse circulation drilling has been started as well at the Omrah and Wise nickel targets, with aircore drilling, soil sampling and diamond drilling expected to take place pending rig availability.
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.