Moho drills bedrock gold in maiden Crossroads campaign

TERRY Streeter-backed microcap Moho Resources has hit gold in bedrock in its first drilling of the Crossroads prospect, west of the Edna May mine in Western Australia.
 Moho drills bedrock gold in maiden Crossroads campaign  Moho drills bedrock gold in maiden Crossroads campaign  Moho drills bedrock gold in maiden Crossroads campaign  Moho drills bedrock gold in maiden Crossroads campaign  Moho drills bedrock gold in maiden Crossroads campaign

Moho drilling in WA's Wheatbelt

The aircore drilling hit up to 0.21 grams per tonne and 0.96gpt in 4m composites, with assaying of 1m samples now underway.

Geochemistry and petrology reports are awaited, with Moho tapping into expertise gleaned from the former Explaurum's Tampia deposit near Narembeen - now in the hands of Ramelius.

Moho is planning to undertake additional infill gravity surveying this quarter "to help delineate buried bedrock lithologies, such as was done by Explaurum at the Tampia deposit".

Crossroads is part of Moho's overall Burracoppin project, with one of the tenements involved being a joint venture with IGO where Moho is earning a 70% stake by spending A$450,000. 

The tightly capitalised Moho is led by geologist Shane Sadleir and features a highly regarded technical team including exploration manager Bob Affleck and Dr Jon Hronsky.

Last year the company made a virgin gold and base metal discovery with its maiden drill program at Empress Springs in Queensland.

Moho is also aiming to monetise the Silver Swan North project near Kalgoorlie, potentially via a toll treatment venture.

Chairman Streeter is a well-known investor in the junior resources sector who had a very big win with nickel discoverer and miner Western Areas.

Shares in Moho rose 16% Tuesday to A9.5c, capitalising the company at $4.6 million.

Moho has estimated cash reserves of circa $700,000.

  • Top News: Vale Terry Grammer. Read more.
  • Top News: SolGold's relationship with BHP, Newcrest not 'soured'. Read more.
  • Top News: Nickel Mines becomes 'new force in global nickel'. Read more.