How Will Moho’s Silver Swan North Sale Accelerate Bush Chook’s Gold Hunt?

Strategic Asset Sale Fuels Exploration Focus

Moho Resources Ltd (ASX, MOH) has taken a decisive step to sharpen its exploration efforts by selling its Silver Swan North Project to Mineral Mining Services Pty Ltd (MMS). The deal, valued initially at $500,000 with an additional $500,000 milestone payment contingent on tenement conversion to a mining lease, also includes a 1% gross revenue royalty. This transaction not only injects immediate capital but also secures future revenue streams, providing Moho with a stronger financial footing.

Chairman Peter Christie emphasized the strategic importance of this sale, noting that the proceeds enable Moho to increase its exploration budget and concentrate resources on the Bush Chook Project. This pivot reflects confidence in Bush Chook’s potential, particularly the Swan Gold Prospect, which has emerged as a compelling target following initial soil sampling.

Drilling Commences at Swan Gold Prospect

On 7 December, Moho commenced its maiden reverse circulation drilling program at the Swan Gold Prospect within the Bush Chook Project. The prospect is defined by a 1.4-kilometre-long and 250-metre-wide gold anomaly, with soil samples reaching up to 330 parts per billion gold. Its proximity, just 10 kilometres, to AIM Mining’s high-grade Blue Spec Gold-Antimony deposit, which boasts impressive grades and production history, adds further intrigue.

The drilling program aims to test the anomaly at depths between 160 to 200 metres, with plans to drill between 1,000 to 1,600 metres across two to three lines. Completion is expected within two weeks, setting the stage for a potentially transformative exploration phase. Moho’s approach includes systematic target ranking and follow-up sampling, underscoring a methodical strategy to unlock value.

Regional Context and Growth Potential

The Pilbara region has been a hotbed for gold discoveries over the past decade, with companies like De Grey Mining and Northern Star Mining achieving multi-billion-dollar valuations following major finds. Bush Chook lies within the Mosquito Creek Basin, an area with a rich history of gold production and existing resources totaling approximately 2.5 million ounces. Neighboring projects such as AIM Mining’s Nullagine Gold Project further validate the region’s prospectivity.

Moho’s focus on Bush Chook aligns with this broader regional momentum. The geological setting, characterized by complex structural features conducive to gold mineralization, adds technical appeal to the project. The company’s experienced board and technical team bring a blend of corporate and geological expertise to navigate the challenges ahead.

Looking Ahead

With the Silver Swan North sale completed and drilling underway, Moho is well positioned for an active 2026 exploration season. The company plans to continue refining targets through soil and rock chip sampling, followed by targeted drilling campaigns. The milestone payment and royalty structure from the sale also provide a potential upside if MMS advances the Silver Swan North Project to production.

Investors and industry watchers will be keenly awaiting the initial drilling results from Swan Gold, which could validate Moho’s strategic shift and underpin future growth. The company’s ability to convert exploration success into tangible resource development will be critical in the coming months.