The co-funding will grant the company up to $150,000 to pay for 50% of drilling costs associated with a planned stratigraphic drilling program at Moho’s Silver Swan North Project.
Funding from the EIS is an important component of Moho’s overall exploration strategy aimed at identifying prospective host rocks for nickel sulphide mineralisation at Silver Swan.
The application was considered as part of round 18 of the EIS for co-funding of drill programs to be completed between January 1 and December 31 of 2019.
Drill testing for nickel sulphides
Moho has designed an aircore drilling program for the central north area of Silver Swan within the exploration licence (EL) E27/528.
The program will comprise up to 150 aircore drill holes amounting to 12,000 metres, directly costing $300,000, and is designed to test a large area for nickel-prospective ultramafic and mafic rock sequences within E27/528.
This extensive undrilled area is overlain by deep soil and alluvial cover including magnetic gravels which mask the magnetic signature of the underlying geology.
Geochemical anomalies generated from drilling will be used in conjunction with recently acquired gravity data to identify targets for follow-up drill programs.
Drill samples will also be used in conjunction and in collaboration with the CSIRO geochemical fingerprinting R&D technology to locate and distinguish prospective nickel sulphide geology.
Consolidating asset ownership
Moho listed on the ASX in November, raising $5.3 million, and is actively advancing exploration programs at the Empress Springs, Silver Swan North and Burracoppin projects.
Silver Swan consists of the 100% Moho-owned granted tenements E27/528 and P27/2232 and tenement applications P27/2390 and E27/613.
On November 12, 2018 Moho announced that it had provided Odin with sufficient evidence it has now earned a 51% beneficial interest in the licences.