Moho Resources strikes gold in second drilling campaign at East Sampson Dam
Moho Resources is planning further drilling at the East Sampson Dam prospect to define the gold mineralisation’s limits.
Moho Resources (ASX: MOH) is the latest junior gold explorer to enjoy the limelight with assays from drilling last year at the East Sampson Dam prospect returning up to 24.61 grams per tonne gold.
Located 50km north of Kalgoorlie in Western Australia, Moho completed a second reverse circulation program at the prospect late November last year.
The campaign comprised 29 holes for 2,600m and uncovered anomalous gold over 225m of strike, with mineralisation remaining open. This has extended known strike about 25m both to the north and south of previous drilling.
Better results from the program were 15m at 4.71g/t gold from 88m, including 3m at 15.18g/t gold from 100m; 5m at 10.36g/t gold from 59m, including 2m at 24.61g/t gold from 56m; and 9m at 4.28g/t gold from 19m, including 1m at 24.3g/t gold from 25m.
Advancing Silver Swan North
Moho has planned further drilling for East Sampson Dam in the April quarter, with the program designed to define the prospect’s gold mineralisation limits.
Drilling will also target nearby areas within the wider Silver Swan North project.
Additionally, mining studies will continue and include desktop modelling along with discussions with toll treating operators in the region.
Resource modelling is also underway with a JORC estimate scheduled for release next month.
Moho has close to a 70% interest in East Sampson Dam via a 2015 earn in agreement with Odin Metals (ASX: ODM).
Other than one other tenement, where it also owns close to 70%, Moho wholly-owns the remaining granted tenements comprising the Silver Swan North project.
Moho noted Silver Swan North is close to mining infrastructure.
Nickel potential
In addition to its prospectivity for gold, Silver Swan North is also being explored for nickel due to its proximity to Poseidon Nickel’s (ASX: POS) Black Swan nickel plant and mine.
During the December quarter, Moho completed 43 air core holes for 3,430m in its nickel pursuit.
However, only silver was identified in the drill intercepts.
Moho’s shares rocketed on today’s gold news – shooting up more than 206% to trade at $0.135 by late afternoon – only a few hours after the results were announced.