Special Report: At the Empress Springs project, Moho Resources has just discovered two more mineralised systems around the interpreted rim of an ancient volcano.
Moho (ASX:MOH) is dialling into a number of potentially massive mineral systems at Empress Springs, a North Queensland greenfields joint venture with major miner Independence Group (ASX:IGO).
A recent drilling campaign has discovered highly anomalous gold/silver mineralisation and pathfinder element halos below shallow cover at the newly discovered Yappar and Wilson Bore prospects, near Moho’s initial Arrowhead gold discovery.
This ‘halo’ is used by explorers to pinpoint the primary source of the mineralisation in the bedrock.
Ultimately, this mineralisation at Arrowhead, Yappar and Wilson Bore has to be coming from somewhere – and Moho is intent on tracking it down.
And like Arrowhead, both Yappar and Wilson Bore are located around what is interpreted from airborne magnetic data as the rim of a buried caldera – a large, cauldron-like, collapsed structure formed by an ancient volcano.
Globally, calderas are known to host rich ore deposits. The massive Lihir gold mine in PNG, for example, is located within the Luise Caldera, an extinct volcanic crater.
At Yappar, Moho hit gold mineralisation and widespread, well developed base metal anomalism over a distance of 1.3km – at least.
At Wilson Bore, precious metal anomalism was discovered over 1.4km near the caldera rim.
An analysis by a renowned consultant, CSA Global’s Dr Carl Brauhart, suggests the source of the anomalous gold at Wilson Bore might be “locally derived” – meaning Moho could be very close to hitting the high-grade source.
“[Overall] The scale of the mineral system [at Empress Springs] revealed by the available data warrants further enthusiastic exploration,” Dr Brauhart says.
Moho is confident the Empress Springs project has the potential to host large mineral systems, managing director Shane Sadleir says.
“Moho is hunting large mineralised systems at Empress Springs and we are highly encouraged by the discovery of three separate mineralised systems around the rim of the caldera,” he says.
“We remain confident the area has the potential to host large mineral systems and are looking forward to seeing what the next phase of exploration yields.”
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This story was developed in collaboration with Moho Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.