Moho Resources Ltd (ASX:MOH) is encouraged by gold and silver results from Crossroads prospect of Burracoppin Gold Project in WA’s Wheatbelt that may indicate the presence of an intrusive-related mineralising system in the area.
Assays of individual 1-metre samples from the maiden aircore drill program at Crossroads show that gold/silver mineralisation has been intersected in bedrock.
These assays returned up to 0.61 g/t gold and 5.53 g/t silver in bottom of hole samples and three holes ended in greater than 0.1 g/t gold.
This mineralisation, which is on the northern margin of a pronounced gravity low, is open to south and east and at depth.
The company believes that the gravity low may represent a felsic intrusion as scattered microgranite is found in the paddock to the south of the drilling.
Moho managing director Shane Sadleir said: “Moho and our exploration team are highly encouraged by these latest assay results which confirm that the Crossroads prospect hosts bedrock gold and silver mineralisation.
“Significantly, the mineralisation is open to the south, east and at depth and may be associated with an intrusive-related mineralising system.”
Shares are up almost 7% to 7.9 cents.
Location of Burracoppin Gold Project in relation to regional geology, gold occurrences and mine infrastructure.
During the second half of the year, Moho intends to extend soil sampling across paddocks to the north where crops limit vehicular access.
The company will also plan and implement the next phase of drilling south and east of past drilling to follow-up bedrock gold mineralisation with this work expected to take place in the December quarter of 2020.
Earn-in with IGO Ltd
Crossroads is 22 kilometres west of the Edna May gold mine and Moho is earning up to a 70% interest in E70/4688 at Burracoppin in a farm-in joint venture agreement with IGO Ltd (ASX:IGO).
This will be achieved by spending $450,000 on exploration activities by November 6, 2020.
Moho owns 100% of granted exploration tenements E70/5154, E70/5301-5302 and applications ELA70/5299-5300.
Published at Tue, 23 Jun 2020 01:16:00 +0000-Moho Resources confirms gold-silver mineralisation at Burracoppin