THE BOURSE WHISPERER: Moho Resources (ASX: MOH) has scored a grant of $112,000 to undertake a regional hydrogeochemical sampling program at the company’s Empress Springs project in Queensland.
Moho Resources was awarded the grant as part of the Collaborative Exploration Incentive (CEI) program by the Queensland Government, administered by the Department of Natural Resources, Mines and Energy (DNRME).
The company explained the CEI grant will fund a borehole hydro-geochemistry study in partnership with the CSIRO, while enabling Moho to sample and comprehensively analyse waters beneath the cover rocks from existing water bores spread throughout its eleven Empress Springs tenements.
Moho will also sample water in holes drilled in 2018 and 2019 that located evidence of four separate mineralising systems within the Empress Springs project.
“Moho looks forward to utilising the CEI funds in cooperation with CSIRO to advance our knowledge of mineralising systems at the highly prospective Empress Springs project,” Moho Resources managing director Shane Sadleir said in the company’s announcement to the Australian Securities Exchange.
Moho and the CSIRO will carry out the survey hoping to locate chemical signatures substantiating large mineralised systems hidden beneath the cover rock sequences to focus future exploration towards finding new mineralisation in the area.
The CSIRO will contribute its technology and considerable background data on water sampling and analyses in the region and provide the equipment, training and supervision for the sampling program.
The chemical analyses for a comprehensive suite of elements will be performed by or under the direction of the CSIRO and the resulting data will be assessed by Moho and the CSIRO using their computer machine learning technology.
The field and analytical program is expected to commence in March 2020 and be completed in May 2020.