Does the Mold do percentage or a fixed number of damage over time?
Solution 1:
While it's not a direct answer to your question - you can make the question moot by doing the side mission "Old Growth" where after you acquire some samples for her Dr Raya Underhill will synthesize you pill that grants immunity to the effects of the Mold.
You still have to watch out for the infected Mold host enemies of course but you won't take damage simply from being in a mold-infested space.