Moho Resources Ltd (ASX:MOH)’s research and development (R&D) collaboration with CSIRO and other external consultants is paying dividends, netting the company a $621,000 tax offset for eligible R&D expenditure conducted across its projects.
The R&D programs were undertaken at Silver Swan North and Burracoppin in Western Australia and Empress Springs in Queensland during the 2020-2021 financial year as part of an overall exploration strategy to improve and refine mineral discovery processes.
Exploration budget windfall
“This R&D tax refund represents a major addition to Moho’s ongoing exploration budget,” Moho Resources managing director Shane Sadleir said.
“It also underlines the contribution that R&D makes in the company’s exploration processes targeting significant mineral discoveries within our highly prospective portfolio of battery and precious metal projects.”
Moho recently confirmed the presence of several bedrock gold anomalies at the Silver Swan project, identified through aircore drilling targeting gold-in-soil geochemical anomalisms identified during a 2020 exploration program.
Similarly, in August 2021 the company successfully identified extensive gold anomalies in Burracoppin stream sediment samples, some of which are associated with pathfinder elements coincident with interpreted magnetic structures.
Read: Moho Resources identifies extensive gold anomalies in Burracoppin stream sediment samples
About Moho Resources
Moho Resources is an Australian mining company focused on gold and nickel exploration at the Empress Springs, Silver Swan North and Burracoppin projects.
The company considers Empress Springs in Queensland, which comprises three adjacent exploration permits with a total area of around 773 square kilometres, to have the potential for base metal mineralisation.
Silver Swan North Project is around 50 kilometres northeast of Kalgoorlie and covers about 55 square kilometres within the gold-rich Kalgoorlie Terrane while Burracoppin further to the west is also prospective for gold.