- Moho Resources (MOH) has received results from its maiden drilling program at the Crossroads prospect in WA
- The 32-hole reverse circulation drilling program concluded in February at the Burracoppin Gold Project in WA’s Wheatbelt region.
- Results include one metre at 7.48 grams per tonne (g/t) gold from 92 metres in bedrock and eight metres at 0.47 g/t gold from 51 metres in supergene
- Follow-up diamond drilling is expected to start next month to identify controls on bedrock mineralisation
- Moho shares are in the grey at 8.3 cents each, while IGO is also in the grey at $6.98 per share
Moho Resources (MOH) has received results from its maiden drilling program at the Crossroads prospect in WA.
The prospect is part of the Burracoppin Gold Project, located in WA’s wheatbelt region, which is a 70:30 joint venture between Moho and fellow ASX-lister IGO (IGO).
The maiden reverse circulation drilling program consisted of 32 holes and aimed to test extensions of previously drilled shallow bedrock gold and silver mineralisation at Crossroads. The program wrapped up in February.
Now, the results have returned significant grades of one metre at 7.48 grams per tonne (g/t) gold from 92 metres in bedrock and eight metres at 0.47 g/t gold from 51 metres in supergene.
Mineralisation of around 0.4 g/t of gold extends over 500 metres north to south to a drilled depth of 80 metres.
The currently defined bedrock gold mineralisation is open to the north, west and at depth and is located on the northern margin of a gravity low.
The company is hopeful that this gravity low represents a porphyry intrusion, as scattered micro-granite is found in the paddock to the south of the drilling.
Moho’s Managing Director Shane Sadleir commented on the results.
“The presence of high grades within such a large mineralised zone supports the potential of the prospect to host significant bedrock gold mineralisation.”
Looking forward, follow-up diamond drilling of three holes for 600 metres is planned to identify controls on bedrock mineralisation. Moho is expecting the rig to arrive in the first week of May.
A lithogeochemical review is also underway, and a petrological report on reverse circulation chips is pending.
In terms of the joint venture (JV), Moho and IGO formed the unincorporated JV for the purposes of exploring and, if warranted, developing and mining on new tenement E70/4688.
IGO’s 30 per cent interest will be free carried until completion of a pre-feasibility study. During which, the company may elect to contribute pro-rata to ongoing work or convert its interest share to a 10 per cent free carried interest.
In addition to Moho’s 70 per cent interest in E70/4688, the company owns a 100 per cent interest in granted exploration tenements E70/5154, E70/5300-5302 and applications ELA70/5299 and E77/2671.
Moho shares are in the grey at 8.3 cents each, and IGO is also in the grey at $6.98 per share at 9:15 am AEST.