Moho Resources Ltd (ASX:MOH) aims to begin an extensive reverse circulation and diamond drilling program in January 2021 at Crossroads Gold-Silver prospect within the Burracoppin Gold Project in Western Australia's wheatbelt region.
The drilling program will target lateral and vertical extensions to the recently defined shallow bedrock gold and silver mineralisation and will begin with 25 RC holes for 2,500 metres.
Three diamond holes for 600 metres will then be drilled at locations to be determined following receipt of the RC assay results.
Drilling grant
Moho has been awarded a co-funded drilling grant of $147,526 under Exploration Incentive Scheme by the WA Government after submitting an application for assistance in September.
Managing director Shane Sadleir said: “Moho greatly appreciates the WA Government’s financial assistance under the Exploration Incentive Scheme to test the Crossroads gold/silver prospect for a potential intrusive mineral system.
"We are looking forward to implementing our maiden RC and diamond drill programs early next year,” he said.
To follow-up aircore results
The gold-silver mineralisation identified to date at the Crossroads prospect 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.
In June, Moho reported assay results of individual 1-metre samples from its maiden aircore drill program at Crossroads where gold-silver was intersected in bedrock with up to 0.61 g/t gold and 5.53 g/t silver.
The gold mineralisation is associated with other pathfinder elements identified as silver, arsenic, antimony, tellurium and bismuth.
Next steps
Moho's upcoming work program includes
- Lodge Program of Works applications with DMIRS in Q4 2020; and
- Locate diamond drill holes based on RC drill results - Q1, 2021.
JV with IGO
The company and IGO Limited (ASX:IGO) have formed an unincorporated joint venture for the purposes of exploring and, if warranted, developing and mining on E70/4688 which includes Crossroads.
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.