The only way is up: Moho snaps up key nickel tenement in WA’s goldfields region
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Tenement E27/623m adjoining Poseidon Nickel’s (ASX:POS) Black Swan Nickel Operation has now been granted.
After Poseidon Nickel announced several “extraordinarily” high-grade nickel intersections at Silver Swan on December 20 – including a 15m at 17.92% nickel from 285m hit – Moho has announced the grant of grant the E27/623 tenement which adjoins aforementioned Poseidon ground.
Moho (ASX:MOH) considers the tenement to be prospective for nickel-gold mineralisation, and is planning an initial work program to get started in 2022.
The program will focus on target generation prior to EM surveys and drilling and will comprise activities such as a review of available historic exploration data, field mapping and sampling, rock chip collection, geophysical data reprocessing, and systematic soil sampling.
Investors responded positively to the news with shares up 10.17% this morning.
MOH managing director Shane Sadleir said the grant of the tenement so close to the “exceptionally high-grade” nickel sulphide Silver Swan deposit is a very exciting development for the company as it ramps up nickel and battery metals exploration.
In early November, Moho entered into a binding heads of agreement with Yandal Resources (ASX:YAL) for exclusive rights to access, explore, mine, recover, process and sell all nickel, copper, cobalt and PGE extracted from the 15 granted mining tenements held by Yandal.
At the time, Sadleir said this represented a unique opportunity for Moho to significantly increase its exploration program at Silver Swan with minimal cost and time delay.
“The granting of the nickel rights enhances the company’s focus on nickel exploration following the recent acquisition of the Whistlepipe nickel project, located in Western Australia’s Albany-Fraser Orogen,” Sadleir said.
He said while gold remains a key commodity for the company, nickel prices are being supported by several supply constraints and Moho’s increasing focus on nickel affords it better leverage to future price movements.
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.