Source: Moho Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Moho Resources (MOH) has recently been granted an exploration licence which adjoins the southern boundary of Poseidon Nickel’s (POS) Black Swan nickel operation
  • The tenement also sits near to Moho’s Silver Swan North project, which it believes is “very exciting” as it ramps up nickel and battery metals exploration
  • The tenement grant comes with expenditure commitments over its five-year tenure and Moho plans to conduct field work in the new year
  • Company shares have been trading 3.39 per cent higher at 6.1 cents

Moho Resources (MOH) has recently been granted an exploration licence in Western Australia.

E27/623 adjoins the southern boundary of Poseidon Nickel’s (POS) Black Swan nickel operation and is near Moho’s Silver Swan North project, where it’s targeting gold and nickel sulphide mineralisation.

Managing Director Shane Sadleir commented on being granted this tenement.

“The grant of this tenement so close to the exceptionally high-grade nickel sulphide Silver Swan deposit is a very exciting development for Moho as we ramp up our nickel and battery metals exploration in WA,” he said.

Moho is required to spend $20,000 per year from years one to three and $30,000 per year for years four and five. The tenement grant expires on December 13, 2026.

The company plans to conduct field work in the new year which will focus on generating targets before it carries out electromagnetic surveys and drilling.

“The Moho team are looking forward to getting on the ground in the new year, with the goal of discovering an economic nickel sulphide deposit,” Mr Sadleir said.

Company shares were up 3.39 per cent to trade at 6.1 cents at 2:43 pm AEDT.

MOH by the numbers
More From The Market Herald
The Market Herald Video

" Askari Metals (ASX:AS2) acquires Barrow Creek Lithium project after raising $2.6m

Askari Metals (ASX:AS2) has acquired the Northern Territory Barrow Creek Lithium project after completing a $2.6…
Agrimin (ASX:AMN) - CEO, Mark Savich

" Agrimin (ASX:AMN) announces $7m cap raise

Following a trading halt earlier in the week, fertiliser development company Agrimin (ASX:AMN) has announced plans…

" Race Oncology (ASX:RAC) reports $1.8m in cash outflows

Race Oncology (ASX:RAC) reports $1.8 million in cash outflows