Special Report: Just before the wet season late last year, newly listed explorer Moho Resources (ASX:MOH) made a defining gold discovery in north Queensland at a project called Empress Springs.

Moho was conducting wide-spaced reconnaissance drilling over a geophysical target when it hit significant gold and base metal mineralisation in basement rocks below shallow cover at the Arrowhead prospect.

The discovery hole recorded 10m averaging 1.08 g/t gold just 44m below surface. Importantly, drilling ended in mineralisation.

There had been no previous drilling for gold and base metals in the Empress Springs area and the nearest gold mineralisation is the 1.2M oz Croydon Goldfield some 30 km to the north. (check).

This discovery suggests Moho could be sitting on a very large mineralising system — a brand new gold and base metals discovery in an emerging minerals province.

Now, a fresh 2500m drilling campaign is underway to test the extent of gold and base metal mineralisation down to about 100m vertical depth at Arrowhead.

This drilling, in the vicinity of the discovery hole, is about halfway done with 10 holes (1002m) completed to date.

Plan and cross section of the Arrowhead Prospect showing the discovery hole. (Supplied)

Empress Springs: the next Hidden Valley?

Moho also hired an independent consultant, Dr Carl Brauhart of CSA Global, to compare the discovery hole mineralisation to existing deposit types around the world.

Dr Brauhart coordinates the OSNACA (Ore Samples Normalised to Average Crustal Abundance) project, which analyses and compares ore samples from known deposits around the globe.

The closest matches to the Arrowhead mineralisation include two large epithermal gold deposits; the 7.7moz Kelian in Indonesia and the multi-million-ounce Hidden Valley in PNG.

Epithermal gold deposits can be among the richest in the world.

The results of the OSANACA study do not conclusively prove that Arrowhead mineralisation is related to an epithermal system, but it does give Moho clear guidance on the potential styles of mineralising systems that could exist at Empress Springs.

Next steps

Moho is now focussed on completing this 2500m drilling program at Arrowhead.

But instead of waiting weeks for lab assay results, Moho will get indicative daily results using a portable XRF analyser, based on the correlation between the gold and base metal results in last years drill program.

This gives the company flexibility to increase the number and depth of holes if strong base metal anomalism is detected.

It should also result in fewer assays of non-mineralised samples, and a faster turnaround of critical gold results through the lab, Moho says.

Then in June, Moho will kick off an extensive 7000m reconnaissance air core program to test the targets not explored in 2018.

 

 

This story was developed in collaboration with Moho Resources, a Stockhead advertiser at the time of publishing.

This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice. If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure Statement or an offer document (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.

 

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