Moho to own 100pc of East Sampson Dam gold discovery, fast-track big follow-up drilling program
Special Report: Buying the remaining 30 per cent of the exciting East Sampson Dam gold prospect will allow Moho Resources to fast-track drill programs and mining studies “under its own management”.
It also includes the highly prospective and mineralised East Sampson Dam gold prospect.
In early February, Moho caught a +200 per cent rocket after the WA explorer was able to extend known high-grade gold mineralisation at the East Sampson Dam prospect.
Results from the explorer’s second drilling program at the prospect, included 2m at 24.61 grams per tonne (g/t) gold inside a larger 5m intersection grading 10.36g/t gold, 54m from surface.
The next round of drilling at East Sampson Dam to infill and extend the existing gold zone is expected to begin shortly, the explorer says.
The 100% acquisition of M27/263 “removes any budget and management constraints” associated with the joint venture and enables Moho “to expedite exploration and mining studies under its own management”, the company says.
Moho will pay Odin $120,000 in cash within 30 days of signing. Odin will also be issued 4,500,000 shares at a deemed issue price of 6.5c per share.
The Company welcomes Odin as a substantial shareholder to the register at completion of the agreement and looks forward to Odin’s continued support.
“Moho looks forward to accelerating exploration at the Silver Swan North Project, in particular the next drill programs, associated mining studies and metallurgical test work at the East Sampson Dam prospect.”