- Moho Resources (MOH) begins diamond drilling program at the Omrah nickel prospect within its Silver Swan North project in Western Australia’s Goldfields region
- The company says drilling is under way at the bottom of one of the recently completed reverse circulation (RC) holes, targeting an electromagnetic (EM) conductor for ultramafic-hosted massive nickel sulphide mineralisation
- Once drilling is complete, the company plans to undertake down-hole EM surveys of selected drill holes
- MOH shares surge 22.2 per cent to 5.5 cents
Moho Resources (MOH) shares have surged after the company started diamond drilling at the Omrah nickel prospect within its Silver Swan North gold-nickel project near Kalgoorlie in Western Australia’s Goldfields region.
The company said the prospect hosts an untested electromagnetic (EM) conductor identified by geophysical interpretation of historic EM surveys.
Moho completed a round of 14 reverse circulation drilling at Omrah in January and was awaiting assay results from the program.
Diamond drilling was under way at the bottom of one of the recent RC holes, targeting the EM conductor for ultramafic-hosted massive nickel sulphide mineralisation.
Moho anticipated the EM plate would be intersected at 405 metres down-hole.
Following the diamond drilling phase, the company said it planned to undertake down-hole EM surveys of selected drill holes.
The company said up to 50 per cent of the direct drilling costs associated with the RC and diamond programs at the project’s Omrah and Wise nickel prospects were set to be covered by a $150,000 grant under the WA Government’s Exploration Incentive Scheme.
MOH shares jumped 22.2 per cent by the end of the day’s trading session to 5.5 cents.