Moho starts drilling right next door to growing nickel sulphide discovery
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Special Report: Moho Resources has started a fresh round of drilling right next door to where another nickel explorer just announced a resource upgrade.
The company (ASX:MOH) has begun the second phase of its nickel sulphide exploration at its Silver Swan North project in Western Australia.
The project is strategically located adjacent to Poseidon Nickel’s (ASX:POS) 2.2 million-tonne-per-annum Black Swan nickel processing and concentrator facility and the high-grade, underground Silver Swan mine and Black Swan open pit.
Just today Poseidon revealed it had more than doubled its indicated “restart resource” for the Silver Swan project to 10,130 tonnes at 9.4 per cent nickel, and increased the total indicated and inferred resources by 30 per cent to 16,030 tonnes at 9.5 per cent nickel.
Anything over 3 per cent nickel is generally considered high-grade.
That’s a good indicator of the potential within Moho’s landholding.
Moho’s latest round of drilling will initially focus on coincident gravity and anomalous nickel geochemical targets to test for “Black Swan style” nickel mineralisation.
The company has planned an extensive drilling program of 2,700m across 38 holes, which it expects to take about a week to complete.
The current program also includes geochemical and stratigraphic aircore drilling across the northern area of the Silver Swan North project to identify suitable host rocks for nickel sulphide mineralisation under cover.
While predominantly a gold focused explorer, Moho has seen the potential in nickel.
Strong demand means nickel has been one of this year’s best performers so far, but a recent nickel export ban from Indonesia really added fuel to the fire.
Just last month, Moho made a savvy investment in fellow explorer St George Mining as the nickel price surged to 12-month highs.