Moho Resources Ltd (ASX:MOH) has been granted a trading halt by the ASX ahead of a capital raising announcement.
Securities will remain halted until the earlier of the commencement of normal trading on Friday, December 11, 2020, or when an announcement is released to the market.
Results infill and extend East Sampson Dam
Recently the company received high-grade results from resource definition diamond drilling which infill and extend gold mineralisation at East Sampson Dam (ESD) prospect within the Silver Swan North Project in Western Australia.
Silver Swan North Project is around 50 kilometres northeast of Kalgoorlie.
Mineralised intervals at ESD show very high correlation with gold grades in adjacent holes and geological logging indicates gold mineralisation occurs close to margins of quartz-feldspar porphyry intrusion.
Phase-2 drilling
Expanded phase-2 reverse circulation (RC) resource definition drilling is underway at ESD, including 45 holes for around 3,800 metres to infill the current resource and test for mineralised extensions to the north and south.
The company plans to review the remaining diamond assay results this month along with a review of downhole logging drill data to define structural controls on gold mineralisation.
It is also planning to target further gold mineralisation north of ESD with aircore drilling of auger gold anomalies in the first half of 2021.