Moho Resources Ltd (ASX:MOH) has completed its phase 2 reconnaissance aircore drill program to follow up significant intersections of clay-hosted rare earth elements (REE) at Peak Charles Project northwest of Esperance in Western Australia.
The company completed 43 holes across 1,673 metres encountering regolith profiles similar to those during the phase 1 program, indicating a well-developed clay zone with potential to host REE mineralisation.
Moving forward, Moho aims to review and report drilling and soil assay results, conduct metallurgical test work and further interpret airborne magnetic geophysics at Peak Charles.
"Advantageous position"
Moho managing director Ralph Winter said: “The global supply of dysprosium is facing a huge shortage being integral in the manufacturing of magnets for electric vehicles.
“This campaign at our Peak Charles project gives Moho another step forward in creating value for the company within this burgeoning Esperance district.
“Metallurgical samples taken will also advance the analysis and understanding of the rare earth extraction rates from the clay hosts, which will put the company in an advantageous position amongst up-and-coming rare earth explorers.”
Drill program
The second phase follow-up 47-hole reconnaissance and infill aircore drill program at E 74/695 was designed to further understand the geological constraints of the project area and to test for the continuation of the clay-hosted REE mineralisation defined during the first phase of aircore drilling.
Drilling was carried out along road reserves and existing tracks at a 400-metre hole spacing and drilled to refusal at the base of the clay profile.
Infill holes at the Northern Track and several holes at the Rollond East prospect were abandoned due to wet ground conditions.
The phase 2 drilling program encountered regolith profiles like that from the phase 1 program indicating a well-developed clay host for potential REE mineralisation.
Forward plan
The next steps at the project include:
- review and report drilling and soil assay results;
- metallurgical test work to determine REE extraction rates from the clay hosts;
- further geophysical interpretation of the airborne magnetics to outline granite basement topography required for ionic clay target modeling; and
- land access agreements with landholders around Gimli prospect