- Moho Resources (MOH) delivers an interim mineral resource estimate for its East Sampson Dam Project in Western Australia
- The mineral resource sits at 264,000 tonnes at 2.5 grams of gold per tonne (g/t) for 21,500 ounces at a cut-off grade of 0.5g/t
- Moho Resources says delivering this resource marks a major milestone for the company to advance the project towards gold production
- Next steps include accelerating drilling into the second half of the year while commencing a scoping study to progress mine development
- Company shares are down 1.45 per cent to trade at 6.8 cents at 1:03 pm AEST
Moho Resources (MOH) has reported a mineral resource estimate for its wholly owned East Sampson Dam Project in Western Australia.
The interim indicated and inferred mineral resource sits at 264,000 tonnes at 2.5 grams of gold per tonne (g/t) for 21,500 ounces at a cut-off grade of 0.5g/t.
As 13,800 ounces, or 70.2 per cent, of the resource estimate is in the indicated category, the company believes this provides the potential to expedite mining at the project.
Managing Director Shane Sadleir said completing the mineral resource represented a major milestone for the company to advance East Sampson Dam to production.
“Importantly, there is significant potential to increase the resource estimate given mineralisation is open to the north, south and at depth. With that in mind, we are aggressively accelerating drill programs into the second half of 2021 while commencing a scoping study to progress mine development.”
Next steps for the company include appointing a mining engineer to commence the scoping study which will progress the mine development of the project.
As the mineralisation at East Sampson Dam remains open, the company will begin an 8000-metre aircore drilling program to test soil anomalies over a 2.5-kilometre strike.
Additionally, Moho will carry out a reverse circulation drilling program to test extensions of mineralisation.
Company shares were down 1.45 per cent to trade at 6.8 cents at 1:03 pm AEST.