Moho Resources Advances Bush Chook Project Gold Exploration

Moho Expands Pilbara Gold Hunt with Strategic Bush Chook Project Acquisition

Moho Resources has significantly strengthened its position in Western Australia's emerging gold province with the acquisition of nine exploration tenements expanding its Bush Chook Gold Project to a commanding 386km² footprint in the Pilbara Craton.

Hemi-Style Gold Potential in an Underexplored Basin

The newly acquired tenements position Moho Resources as the largest exploration landholder in the promising Mosquito Creek Basin, which shares striking geological similarities with the Mallina Basin – home to Northern Star's spectacular 11.2 million ounce Hemi gold deposit.

What makes this acquisition particularly compelling is the stark contrast in exploration activity between the two basins. While Hemi's 2019 discovery triggered an exploration boom in the Mallina Basin, exploration spending in the Mosquito Creek Basin paradoxically plummeted by 67% – from approximately $15 million annually during 2016-2019 to just $5 million per year from 2020 to 2023.

"The Bush Chook Project is in the heart of what we believe is an emerging gold hotspot in Australia," said Moho Resources Chairman Peter Christie. "Demonstrated gold mineralisation, a world-class geological setting, and exploration underinvestment puts Moho Resources in a prime position to make the next Pilbara gold discovery."

High-Grade Gold Already Confirmed

Initial field work at the Moho Resources Bush Chook Project has already delivered encouraging results, with rock chip samples returning values up to an impressive 28.6 g/t gold. This follows historical assays of up to 14.9 g/t gold across six identified zones of gold mineralisation – none of which have been drill tested.

The project also features multiple soil and stream sediment anomalies covering approximately 6.5km² with samples returning up to 7.9 g/t gold, highlighting the significant exploration potential.

Strategic Location with Infrastructure Advantages

The Bush Chook Project neighbors AIM Mining Corp's Nullagine Gold Project, which produced 543,000 ounces of gold between 2012 and 2019 and serves the 1.8 Mtpa Golden Eagle gold processing plant. AIM Mining, owned by mining magnate Mark Creasy, is actively developing infrastructure in the region and drilling their high-grade gold copper discoveries nearby.

The area benefits from established infrastructure including power, water, communications, and road networks connecting to the Nullagine townsite, which is 200km north of Newman.

Understanding the Geological Parallels

Both the Mosquito Creek Basin and Mallina Basin formed simultaneously (approximately 2.9 billion years ago) and experienced the same gold mineralisation event between 2.9-2.8 billion years ago. They share key geological characteristics including:

1. Similar sedimentary compositions (conglomerates, sandstones, shales, siltstones, and wackes)
2. Comparable intrusive formations
3. Greenschist metamorphic grade
4. Known turbidite-hosted gold and gold-antimony deposits

While the Mallina Basin hosts intrusion-related gold deposits like Hemi, the underexplored Mosquito Creek Basin may hold similar undiscovered treasures – which is precisely what Moho intends to investigate.

What Are Turbidite-Hosted Gold Deposits?

Turbidite-hosted gold deposits represent an important class of gold mineralisation worldwide. These deposits form within sedimentary rock sequences that were originally deposited by underwater currents called turbidity flows.

Turbidite deposits are particularly attractive exploration targets for several reasons:

1. Structural predictability: They typically follow identifiable structural controls like faults and folds, making exploration more systematic
2. High-grade potential: They can contain significant concentrations of gold in relatively compact areas
3. District-scale opportunities: They commonly occur in clusters, creating potential for multiple discoveries in a region
4. Geological similarities to major goldfields: Many significant gold districts globally (including parts of Victoria's goldfields) are hosted in turbidite settings

The Moho Resources Bush Chook Project contains rock formations that match the characteristics of productive turbidite-hosted gold systems, with initial sampling already confirming the presence of high-grade gold at surface.

Acquisition Terms

Moho has secured the new tenements through two separate binding agreements:

1. With Goldtimers Prospecting Pty Ltd for eight prospecting licenses in exchange for:

   • $30,000 cash deposit
   • $30,000 cash payment upon completion
   • 12 million Moho shares (3-month voluntary escrow)

2. With Moonlight Metals Pty Ltd for one exploration license (E45/1593) in exchange for:

   • 24 million Moho shares
   • 24 million performance rights tied to resource milestones
   • 2% net smelter return royalty

Next Steps for Exploration

The company is now advancing low-disturbance geological mapping and rock chip sampling while the licenses are in application. This preliminary work will facilitate rapid drill testing once the licenses are granted.

Specific focus areas include:

1. Further mapping and sampling of the six identified high-grade gold zones
2. Detailed geological interpretation to identify structural controls on mineralisation
3. Soil geochemistry programs to expand on the existing 6.5km² of anomalous areas
4. Drill target generation for testing once licenses are granted

This methodical approach allows Moho to advance understanding of the Bush Chook Project while navigating the regulatory approval process, similar to new gold targets being developed by other companies in Western Australia.

Why the Mosquito Creek Basin Presents a Compelling Opportunity

The exploration disparity between the Mallina and Mosquito Creek Basins creates a strategic opportunity for Moho Resources. Despite sharing similar geological characteristics and formation histories, exploration investment in the Mosquito Creek Basin has decreased substantially since Hemi's discovery drew attention to the Mallina Basin.

This situation creates potential for overlooked discoveries in an area with proven gold endowment but insufficient modern exploration. The copper gold targets at the Bush Chook Project's proximity to existing mining operations and processing infrastructure further enhances its economic potential.

Investment Considerations

For investors evaluating Moho Resources Bush Chook Project, several key factors stand out:

1. First-mover advantage in a basin that shares geological similarities with the 11.2-million-ounce Hemi discovery
2. Multiple high-grade gold occurrences already identified but never drill-tested
3. Proximity to existing gold infrastructure including processing facilities
4. Systematic exploration approach focusing on areas that have seen limited modern exploration
5. Experienced management team with a track record in resource exploration

As drilling begins following license grants, Moho will be positioned to potentially deliver the next significant gold discovery in this emerging Pilbara gold province, potentially leading to record profits from gold production if successful.

Historical Context and Regional Production

The Pilbara region has gained increasing recognition for its gold potential beyond its traditional iron ore prominence. The Nullagine Gold Project adjacent to Moho's Bush Chook Project demonstrates the production potential of the area, having yielded over half a million ounces of gold during its operational period.

AIM Mining Corp's current development of the high-grade Blue Spec Gold-Antimony Deposit (24.3 g/t gold) near the Bush Chook Project provides additional validation of the region's mineral endowment. This regional context supports the geological thesis underlying Moho's acquisition strategy.

As Moho advances its uranium discovery expansion and exploration program at the Bush Chook Project, investors will gain increasing insight into whether this underexplored section of the Pilbara could host the region's next major gold discovery.

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