Moho Resources Ltd (ASX:MOH) has updated the progress of its drilling programmes underway to test two priority exploration targets for nickel at the Silver Swan North Project, 50km north of Kalgoorlie.
The identification of the targets followed the release of updated geological interpretations by the Geological Survey of Western Australia and a review of recent and historical geological and geophysical data by Moho’s exploration team.
The Omrah prospect is host to an untested electromagnetic (EM) conductor which has been confirmed by interpretation of multiple surveys.
The surface projection of the approximately 500m long conductive plate is coincident with the footwall of a magnetic marker horizon.
The Wise prospect is associated magnetic anomalies with ultramafic rocks and anomalous historic nickel intercepts.
Moho has been awarded a grant of $150,000 under the Exploration Incentive Scheme (EIS) program by the West Australian Government.
The CEI grant will be used by Moho to fund up to 50% of drilling costs associated with the RC and diamond drilling program to test the potential komatiitic ultramafics associated with the Omrah nickel prospect.
Reverse Circulation (RC) drilling began on 28 November 2021 at the Omrah prospect and was completed at the wise prospect on 22 January 2022. Drilling was hampered by rig breakdowns which were exacerbated by delays in parts supplies from interstate. 1
4 RC holes were completed for 3,060m. All holes were geologically logged and samples and magnetic susceptibility readings taken every metre. Four-metre composite samples and selected one metre samples were submitted to Bureau Veritas laboratory. 40g samples were digested in aqua regia and analysed for nickel and gold and a suite of base metal and pathfinder elements.
About 80% of assays results have been received to date. Once checked and reviewed by Moho’s highly experienced and successful nickel consultant Grant Alan “Rocky” Osborne, the company will determine which holes will be followed up with diamond drilling.
Moho has scheduled the drilling to commence in March, however the company anticipates there may be delays in securing a rig and/or drillers due to Covid impacts and supply constraints.
Moho is the registered 100% owner of granted tenements M27/263, E27/528, E27/626, P27/2232, P27/2390, E27/613 and E27/623 and applications for E27/633, E27/641, P27/2441, P27/2456, E24/235 and E27/687 all of which comprise the Silver Swan North Project. The company has also signed option agreements to acquire M27/488, P27/2200, P27/2216, P27/2217, P27/2218, P27/2226 and P27/2229
In October 2021 Moho entered into a binding Heads of Agreement with Yandal Resources Ltd (Yandal). Under the Agreement which is still subject to due diligence conditions, in exchange for a 1.0% Net Smelter Royalty, Moho will acquire from Yandal the exclusive right to access, explore for, own, mine, recover, process and sell all nickel, copper, cobalt and Platinum Group Elements extracted from the and associated minerals on 15 granted mining tenements held by Yandal, namely E 24/198, E 27/536,
E 27/601, M 27/237, P 27/2206, P 27/2325, P 27/2331, P 27/2340, P 27/2341, P 27/2355, P 27/2356, P 27/2357, P 27/2358, P 27/2359, P 27/2360, P 27/2361, P 27/2362, P 27/2363, P 27/2364. Under the Heads of Agreement the Company will also vend four mining tenements under option and a tenement application to Yandal while retaining the rights for nickel and NSR gold royalties.