Moho secures $200,000 grant to test Empress Springs anomalies
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Moho has received a government boost with the award of a $200,000 grant to follow-up on geochemical anomalies at its Empress Springs project.
The grant under the Department of Natural Resources, Mines and Energy’s Collaborative Exploration Incentive program will be used for a geotechnical drilling program targeting the anomalies identified by the successful hydrogeochemical survey in 2020.
Moho Resources (ASX:MOH) notes that the survey was conducted in collaboration with the CSIRO and its joint venture partner IGO Limited (ASX:IGO) in a region where it had previously discovered the makings of a new mineral province in basement lithologies under cover.
“Moho wishes to thank the Queensland government for their substantial funding support,” managing director Shane Sadleir said.
“We are looking forward to implementing the next phase of exploration to follow up these outstanding hydrogeochemical anomalies and advance our knowledge of mineralising systems at the highly prospective Empress Springs project.”
The survey had identified strong gold anomalism in a 90km zone across the Empress Springs project.
These anomalies fall within the top 1% of groundwater gold anomalism nationally identified by the CSIRO with the strong northwest to southeast trend matching the major trans-crustal structure previously interpreted by Moho’s consultant Dr Jon Hronsky.
Adding interest, the strong gold anomaly has a porphyry-type signature as indicated by anomalous tin, tungsten, and molybdenum.
This led to Moho increasing its Empress Springs tenement by 29% to 3,203sqkm.
The company plans to carry out aircore and reverse circulation drilling of the basement to follow-up seven of the most promising and diverse multi-element hydrogeochemical anomalies.
Multi-element geochemistry of basement drill samples and where feasible, groundwater samples, from this new drilling program will be targeted to confirm follow-up selected hydrogeochemical anomalies and provide vectors to mineralisation.
Moho’s 4,000m program will test bedrock lithologies and groundwater proximal to the bores containing anomalous results to verify and follow up the results of the 2020 survey.
Drilling is expected to start early in the fourth quarter in parallel with a research program to assess the hydrogeochemical footprint of the multi-element anomalies.
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.