Moho Resources Limited (ASX:MOH) is reporting it has started exploration activities for rare earths (REE) at its projects in Western Australia and Queensland.
The company notes there has been a significant increase in exploration activity for REE in close proximity to its project areas such as the Burracoppin project in Western Australia.
REE are a group of 17 elements that have importance in technologies such as powerful magnets, batteries, lights, screens, glass, catalysts, steel alloys, computers and missile guidance systems.
Moho reports accessible and mineable deposits of rare earths are scarce, and until recently China has monopolised the global rare earths market.
It reports this has begun to change as more countries are expanding their search for these elements, and current analyst commentary suggests that if all the rare earth projects slated to be up and running by 2030 are successful, there will be a significant supply deficit.
The anticipated global supply shortage of REE is reflected in a recent surge in exploration for REE in Australia.
Moho Managing Director Ralph Winter said the company is well-placed to capitalise on its strategically located projects for rare earths.
“The expanding supply shortages for rare earth minerals will provide Moho with opportunities to create value for the company and its shareholders”
“The expanding supply shortages for rare earth minerals will provide Moho with opportunities to create value for the company and its shareholders.”
The Burracoppin project is situated in the Western Australia Wheatbelt, and is located about 15km northeast of the regional town of Merredin, and 22km west of the Edna May Gold Mine operated by Ramelius Resources (ASX:RMS).
Moho reports that it has identified significant gold and silver mineralisation at the Crossroads prospect since entering a joint venture with IGO (ASX:IGO) in 2015 to farm in to e70/4688.
It reports it has built up a substantial geochemical, geological and geophysical database on the Burracoppin Project and has retained a suite of sample pulps from soil sampling and aircore, reverse circular drilling (RC) and diamond drilling.
Moho consultant geochemist Richard Carver is currently reviewing the available geochemical data to identify areas within its tenements that may host REE and other critical minerals, and the company anticipates releasing the results of this preliminary work to the market shortly.
Moho and IGO formed an unincorporated JV for the purpose of exploring and if warranted, developing and mining on E70/4688.
IGO’s 30% interest will be free carried until completion of a Prefeasibility Study (PFS) at which time it may elect to contribute pro-rata to ongoing work, or convert its 30% interest to a 10% free carried interest.
Moho has also undertaken substantial exploration around E70/4688 and expanded the tenure of the Burracoppin project.
In addition to its 70% interest in E70/4688, it now owns a 100% interest in granted exploration tenements E70/5154, E70/5299-5302 and E77/2671 which cover 454km-square.
The Peak Charles Project located about 70km northwest of Esperance, Western Australia is one of 7 exploration projects arising from the agreement entered into between Moho and Whistepipe Exploration Pty Ltd on October 25, 2021 and is now considered to be prospective for nickel and associated battery and precious metals.
Moho is the registered 100% owner of recently granted E63/2162, E63/2163, and E74/695 which cover 469km-square, and is the registered applicant for 100% of ELA74/694 and ELA74/749.
Moho reports an ionic clay REE province is expanding rapidly in the Ravensthorpe-Esperance region, and several ASX listed explorers have taken up significant landholdings focusing on the ionic clay REE prospectivity.
Limited previous exploration has identified consistently anomalous shallow accumulations of REE mineralisation.
Moho is encouraged by the advantages of the ionic clay REE style of mineralisation in this area, stating it can easily be explored, being hosted in flat lying clays close to the surface which can be tested with aircore drilling.
It also reports it can leverage the results of drilling against competing companies undertaking extensive exploration and metallurgical studies to assess and progress the scope, scale and nature of the REE mineralisation on its own tenements.
Moho Resources Ltd is an Australian mining company which listed on the ASX in November 2018, and it is actively exploring for nickels, PGEs and gold at Silver Swan North, Manjimup and Burracoppin in Western Australia, and Empress Springs in Queensland.
Images: Moho Resources Ltd
