Moho Resources Ltd (ASX:MOH) has commenced its maiden reverse circulation (RC) drilling program at Crossroads Gold-Silver Prospect, part of its Burracoppin Gold Project, within E70/4688, which is subject to a 70:30 joint venture with IGO Ltd (ASX:IGO) (OTCMKTS:IPGDF) (FRA:IDZ).
The current RC drill program of 25 holes of 2,500 metres, is targeting extensions to the previously defined shallow bedrock gold and silver mineralisation at the prospect.
Three diamond holes of 600 metres will then be drilled at locations to be determined following receipt of the RC assay results.
Maiden aircore drill program
A maiden aircore drill program at Crossroads intersected gold-silver mineralisation in bedrock with up to 0.61 g/t gold and 5.53 g/t silver in bottom of hole samples.
The gold mineralisation is associated with other pathfinder elements identified as silver, arsenic, antimony, tellurium and bismuth.
Mineralisation is open to the south, east and at depth, and is located on the northern margin of a pronounced gravity low that may represent a felsic intrusion.
Burracoppin is in the WA wheat belt, about 22 kilometres west of the Edna May gold mine.
Moho was awarded a co-funded drilling grant of up to $147,526 from the WA Government as part of its Exploration Incentive Scheme to test a potential intrusive mineral system at the Crossroads prospect.
Moho Resources is targeting to complete the RC drilling in early February 2021.
It will then await assay results which will be due in March 2021.
The company will then undertake diamond drilling, based on the RC drill results in the second quarter of 2021.
Burracoppin Project tenements
Moho and IGO have formed an unincorporated joint venture to explore and, if warranted, develop and mine on E70/4688.
IGO’s 30% interest will be free carried until completion of a pre-feasibility study, at which time IGO may elect to contribute pro-rata to ongoing work or convert its 30% interest to a 10% free carried interest.
In addition to Moho’s 70% interest in E70/4688, the company owns a 100% interest in granted exploration tenements E70/5154, E70/5300-5302 and applications ELA70/5299 and E77/2671.