Empress Creek gold find gathers momentum
Moho Resources has gained significant drill results at the Arrowhead prospect at Empress Springs, near an earlier Arrowhead find that had a zinc-copper-tin association.
Empress Springs is 50km south of Croydon.
The latest drilling, detailed to the ASX on July 1, took in a 22m section grading 1 grams/tonne gold from 46m depth including 12m at 1.4 g/t; another hit of 24m at 0.7 g/t, starting at a similar depth.
Moho has businessman and corporate identity Terry Streeter who was a principal backer of Western Areas in 2000 which grew to become one of Australia’s most successful nickel miners at its high-grade operations at Forrestania in Western Australia.
The latest Moho announcement said nine of the latest RC drill holes intersected anomalous base metals (predominantly copper-lead-zinc) and a report by CSA Global suggested the results may represent a halo of gold mineralisation “in a zoned hydrothermal system.”
While exploration is only a few steps past infancy, this relatively new target could bolster North Queensland’s easing gold mining status, since bulk, low-grade mines Mount Leyshon, Wirralie and the better days for Red Dome, and the heady days for high grade gold-silver at Pajingo.
A leading performer on Queensland gold operations is Evolution Mining, which holds or manages the Cracow, Mt Carlton, Ernest Henry and Mt Rawdon operations where, with the exception of Mt Rawdon, grade is significant. In the past 18 months Ernest Henry underground operation has been Australia’s leading all-in sustaining costs (AISC), helped by strong copper credits.
Moho’s July report said RC drilling has extended the gold and base metal mineralisation at Arrowhead, with the broader gold mineralisation within a broader zone of copper-lead-zinc sulphide mineralisation.
Additional drilling in heritage-cleared areas near the Empress Springs caldera will determine the extent of base metal pathfinders and gold mineralisation. The drilling blueprint takes in a 7000m aircore drilling programme which has already started.
First results are expected late in July.