Moho Resources wraps up reconnaissance aircore drilling at Peak Charles in time for Christmas
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The 81-hole program was drilled along existing tracks, targeting historic surface geochemical gold anomalies as well as potential ionic clay rare-earth elements.
Drilling has completed earlier than anticipated with assays expected by March 2023.
Historical exploration has predominantly focused on gold and uranium, however Moho (ASX:MOH) considers the project underexplored for orogenic gold, base metals and rare earth elements (REE).
The Peak Charles Project tenements adjoin the Grass Patch tenements of OD6 Metals (ASX:OD6).
Anomalous neodymium (Nd) and praseodymium (Pr) results were reported by OD6 from sampling of regional water bores in the region, suggesting enrichment of soluble REE within groundwater.
MOH managing director Ralph Winter says the company is well placed to capitalise on the strategic location of the Peak Charles Project within the burgeoning Esperance district.
“With gold prices expected to stay strong and the expanding supply shortages for rare earth minerals, Moho has increased opportunities to create value for the company and its shareholders from this multi commodity project.”
An airborne magnetic and radiometric survey is now underway across the Peak Charles tenement package to provide detailed data to MOH which will be used in conjunction for refining targets and future exploration programs.
The survey will consist of 10,339 line-kilometres of gradiometer magnetics and radiometric surveying at 100m line spacing, greatly improving the existing aeromagnetic data undertaken at a 400m line spacing.
According to MOH, the survey is expected to begin in late December and finish in early January, weather permitting, and pending Christmas shut down.
Subsequent processing and interpretation will assist in defining exploration targets.
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.