Moho Resources Ltd (ASX:MOH) has conducted a comprehensive review of its current projects and assessed new acquisition opportunities during the quarter.
Moho Resources projects.
The company conducted an intense strategic review that aims to fortify its balance sheet and identify new projects.
Operations overview
- Weld Range North Project: The full-scale soil sampling survey across the tenements was completed, with assay results anticipated in the December 2024 quarter.
- Black Swan South Project: Moho plans to assess the project's gold potential through an upcoming magnetic survey and a horizontal-to-vertical spectral ratio (HVSR) passive seismic survey.
- New Board Appointment: Bryce Gould has been appointed as non-executive director.
The company is continuing its strategic review to optimise its asset portfolio.
Projects of note
Weld Range North Project
Moho's Weld Range North Project, located in the Youanmi Terrain within Western Australia, centres on a syncline formation characterised by metamorphosed mafic/ultramafic rock assemblages with intermittent felsic volcanic formations.
This area comprises Yilgarn cratonic granitoids and the northern section of the Weld Range Greenstone Belt, significant due to its large-scale mafic and ultramafic processes dating back to the Meso to Neoarchean period.
Notably, the region's distinctive greenstone belts are rich in intrusive mafic and ultramafic rock compositions, a feature supported by overlapping magnetic and gravity anomalies.
During the latest quarter, Moho completed a soil sampling survey over the project area, analysing 298 samples, with assay results expected by December.
This survey, building on initial 2023 findings of elevated nickel levels, sought to refine the mafic-ultramafic geochemistry profile around identified magnetic and gravity anomalies.
Future exploration plans include a detailed drone magnet survey and potential gravity survey, pending heritage clearance.
Additionally, an aircore drilling program and Program of Works application are in preparation to further assess bedrock formations and identify potential nickel-copper sulphide and gold mineralisation targets.
Moho evaluating gold potential at Black Swan South Project (E27/623)
Moho is advancing exploration at its Black Swan South Project (E27/623), undertaking a magnetic survey and a horizontal-to-vertical spectral ratio (HVSR) passive seismic survey to assess the tenement’s gold potential.
Historically, Black Swan has been targeted for nickel, leaving gold mineralisation largely unexplored for over 30 years. However, recent developments indicate gold potential in the region, with Poseidon Nickel Ltd (ASX:POS, OTC:PSDNF) identifying multiple gold anomalies in the southwestern portion of its adjacent Black Swan Project.
This finding highlights prospective zones bordering Moho's project area, offering promising exploration targets.