Moho Resources Ltd (ASX:MOH) has completed a maiden diamond drilling campaign at Crossroads prospect within the Burracoppin Gold Project joint venture with IGO Ltd (ASX:IGO) (OTCMKTS:IPGDF).
The drilling campaign, which began last month, covered 630 metres across four holes, targeting mineralisation intersected during a reverse circulation (RC) campaign conducted in January this year.
Moho chose the hole locations based on the gold tenement’s multi-element geochemistry, geophysics and gold assay values, with the latest diamond drilling following up extensions of a broad mineralised gold zone at Crossroads.
Results from the program are expected in around six to eight weeks.
“A significant advance”
Moho Resources managing director Shane Sadleir said: “The diamond drilling represents a significant advance in Moho’s geological understanding of the Burracoppin Project and will enable our geological team to vector into the gold mineralisation at the Crossroads prospect.”
As it anticipates assays from the maiden diamond drilling program, Moho is already planning its next steps.
The company will compile the program’s results with its data suite to generate targets at Crossroads prospect.
Then, Moho will take a broader approach, compiling and reviewing all surface geochemical data across the Burracoppin project area.
Once both of these tasks take place in the current quarter, Moho will consider further reverse circulation drilling, either in 2021’s second half or the first quarter of next year.
The Burracoppin project
Situated within Western Australia’s Yilgarn Craton, the Burracoppin Gold Project spans two exploration tenements over 126 square kilometres.
Additionally, the operating Edna May gold mine is just 10 kilometres east of the project area in the craton’s Westonia Greenstone Belt.
Exploration at the Burracoppin gold asset falls under a joint venture agreement with prominent ASX-listed explorer and producer IGO Ltd.
Under the agreement, Moho holds a 70% interest in exploration tenement E70/4688, while it owns 100% of exploration tenements E70/5154, E70/5300-5302, E70/5739 and applications ELA70/5299 and E77/2671.
Meanwhile, IGO’s 30% stake in E70/4688 will be free carried until the 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.