Moho Resources Ltd (ASX:MOH) has called time on its maiden reconnaissance drilling campaign at the Black Swan South nickel prospect, 4.5 kilometres south of the Black Swan nickel mine in Western Australia.
The first phase of reverse circulation (RC) drilling was completed on time and on budget at the 100%-owned prospect on mining licence E27/623, which is part of the regional Silver Swan North Project, around 40 kilometres north-northeast of Kalgoorlie.
The campaign took in 1,914 metres of RC drilling for 12 drill holes varying from 110 metres to 200 metres in depth.
Location of Black Swan South nickel prospect in relation to Moho’s Silver Swan North Project.
Next steps
Samples have been submitted to the Bureau Veritas laboratory for analysis and a preliminary report on initial geological findings is underway.
The company will conduct follow-up downhole electromagnetic (DHEM) surveying of selected RC and historical diamond drill holes and prepare reports and recommendations once the assays are in.
Deal with Yandal
Moho is the 100% registered owner of nine granted tenements and has four pending applications at the Silver Swan North Project. The company has also signed option agreements to acquire a further seven licences in the area.
In October of last year, Moho entered into a binding agreement with Yandal Resources Ltd (ASX:YRL) under which Moho will acquire the exclusive right to access, explore for, own, mine, recover, process and sell all nickel, copper, cobalt and platinum group elements and associated minerals extracted from 15 granted mining tenements held by Yandal, in exchange for a 1% net smelter royalty.
The company will also sell four mining tenements under option and a tenement application to Yandal while retaining the rights for nickel and NSR gold royalties.
About Black Swan South
The Black Swan South nickel prospect is a zone of ultramafic rocks identified from historical drilling south of the Silver Swan nickel mine.
The prospect is associated with a prominent, elliptical-shaped magnetic anomaly, about 700 metres long.
Reprocessing of down-hole EM data from a historical diamond hole was conducted by Moho's geophysical consultant, Kim Frankcombe of ExploreGeo Pty Ltd. This showed a weak anomaly modelled beneath the hole.
An evaluation of the historical geochemical assay data by Moho's geochemical consultant, Richard Carver of GC Xplore Pty Ltd, pinpointed geochemical targets prospective for nickel sulphide mineralisation for drill testing.