FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Moab move on Mt Amy gold

1 December 2022 07:17
ASX: MOM

Moab Minerals have eyes set on gold as it kicks off exploration at its Mt Amy project in Western Australia’s Gascoyne region, starting up its soil survey after securing a heritage agreement with native title holders.

It will begin on the strongest gold areas of its Tier-1 Ashburton Basin location, resting between the Pilbara and Yilgarn Cratons.

The company has two areas targeted for exploration, situated on the northern extension of the Paulsens gold trend and supported by historic sampling and strong gold geochemistry.

Located 43km northwest of the Paulsens Gold Mine, previous work at Mt Amy has already revealed a kilometre-long and 400 metre wide gold in soil anomaly for Moab to explore.

Moab has designed a specific infill soil sampling survey to follow-up on this historic anomaly as well as gold-anomalous rock chip samples in adjacent areas yet to see any follow-up.

The first area being hit is believed to host a continuation of the Nanjilgardy Fault, the major controlling structure for the 700-thousand-ounce Paulsens gold deposit.

The company said it wasted no time getting exploration started.

“Moab has moved quickly to commence work on the Mt Amy Gold Project having recently signed a Heritage agreement with the PKKP Aboriginal Corporation, with a soil sampling program commenced on 28 November, following the granting of the tenement on 24 October,” managing director Malcolm Day said.

MOM’s Australian Stock Exchange-listed share price is trading at 1.0c (7.16 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This