Moho Resources Ltd (ASX:MOH) continues to explore its Weld Range North Project in the Murchison region of Western Australia, prospective for copper-nickel sulphide and gold mineralisation.
Moho is also evaluating the mineral potential at is Black Swan South project which has seen no gold exploration and limited nickel exploration.
In addition to its exploration activities, the company has undertaken a comprehensive review of its existing projects and is evaluating potential new acquisition opportunities, a decision that the company says has potential to enhance returns for shareholders.
Weld Range North Project
Moho has completed a soil sample survey over the entire Weld Range project to determine the nature of the previously identified gravity and magnetic features, which could represent a mafic-ultramafic intrusion prospective for copper-nickel sulphide and gold mineralisation. Assays are pending and expected in the current quarter.
This work follows an orientation soil sample survey, completed last year, which identified elevated nickel assays over a coincidental magnetic anomaly and a gravity bullseye anomaly.
The follow up 298 soil sample survey was undertaken to further delineate the extent of the mafic-ultramafic geochemistry signature over the magnetic and gravity anomalies and the remainder of the tenement. The survey also outlined the different soil types at the tenement.
Soil Sample Survey over Google (NASDAQ:GOOGL) Image, showing sample soil types.
Future exploration
Plans are now underway for a detailed drone magnetic survey and possibly a gravity survey.
Moho is developing a preliminary aircore drilling program, along with a program of works (PoW) application.
Following heritage clearance, the aircore program will aim to define the bedrock lithologies and potential locations for nickel-copper sulphide and gold mineralisation.
Black Swan South Project
Moho is also evaluating the mineral potential at is Black Swan South project, a tenement that has had no gold exploration and limited nickel exploration during the last 30 years.
This initiative is expected to encompass a comprehensive desktop study, followed by a targeted soil sampling program to identify and assess the tenement’s mineral resource potential.
Strategic review
In line with its strategic objectives, Moho has undertaken a comprehensive review of its existing projects and continues to evaluate potential new acquisition opportunities.
The process is designed to strengthen the company’s balance sheet and optimise its portfolio by seeking to acquire new projects viewed as having potential to enhance shareholder returns.