Moho Resources Limited announced that it has completed the first phase of reconnaissance drilling across E74/695 at the Peak Charles Project. Moho's 100% owned Peak Charles Project is an 874km2 contiguous tenement package located approximately 88km northwest of Esperance, Western Australia, comprising 3 granted exploration licenses (E74/695, E63/2162, E63/2163) and 1 exploration license application (E74/694). The Peak Charles Project was acquired through a deal with Whistlepipe Exploration Pty Ltd. Historical exploration has predominately focused on gold and uranium and Moho considers the project underexplored for orogenic gold, base metals and rare earth elements (REE).

The Peak Charles Project tenements adjoin the Grass Patch tenements of OD6 Metals Ltd. Anomalous neodymium (Nd) and praseodymium (Pr) results were reported by OD6 from sampling of regional water bores in the region, suggesting enrichment of soluble REE within ground water. OD6 Metal's Belgian Road REE prospect, which has a 5km long Nd-Pd soil anomaly in calcrete, is located about 15km from and trending in a northwesterly direction towards the Peak Charles project boundary. The 81 hole reconnaissance aircore drill program was designed to further understand the geological constraints of the project area, follow up historic surface gold mineralisation and to test for clay-hosted REE mineralisation.

The drilling was carried out along existing tracks at a 200m hole spacing, and drilled to refusal (average depth 22.6m). Bottom-of-hole multi-geochemical assays will be used to test for potential precious and/or base-metal mineralisation, whilst the basal saprolite zone will be assessed for ionic clay REE. The drilling has been completed earlier than anticipated and assays are expected to be received by March 2023 (subject to laboratory processing times).

Moho has recently commissioned a geophysical contractor to undertake an airborne magnetic and radiometric survey across the Peak Charles tenement package. The survey is expected to provide important detailed aeromagnetic data which will be used in conjunction with drilling and assay data to refine geophysical and geochemical targets for future exploration programs. The survey will consist of 10,339 line-kilometres of gradiometer magnetics and radiometric surveying at 100m line spacing, greatly improving the existing aeromagnetic data undertaken at a 400m line spacing. The survey is expected to begin in late December and finish in early January, weather permitting, and pending Christmas shut down.

Subsequent processing and interpretation will assist in defining exploration targets. Assay results expected in March 2023. Review and assess drilling data and assay results.

Receive and process airborne geophysical data (January 2023). Interpret and integrate newly acquired datasets to identify exploration targets (April 2023). Land access liaison with private landowners/occupiers.

Geochemical sampling and analysis over geophysical anomalies (second quarter 2023).