Insights

IGO (ASX:IGO) share price on watch as new gold drilling joint venture announced

The IGO Ltd (ASX: IGO) share price is on watch today after the company announced a new joint-venture diamond drilling gold project.
The post IGO (ASX:IGO) share price on watch as new gold drilling joint venture announced appeared first on The Motley Fool Australia. –

industrial asx share price on watch represented by builder looking through magnifying glass

The IGO Ltd (ASX: IGO) share price will be on watch today after the company announced a new joint-venture diamond drilling gold project.

IGO is an exploration and mining company with a portfolio of operating and exploration assets across Australia. It’s partnering with small-cap Australian miner Moho Resources Ltd (ASX: MOH) on its new Crossroads gold drilling prospect.

IGO and Moho ready to go

The companies announced this morning that they’re preparing to undertake diamond drilling at their Crossroads Project joint gold exploration venture, located in the West Australian wheat belt.

In the release, Moho noted that a geochemical review had identified a “broad zone of gold mineralisation” at the Crossroads prospect. The company will start drilling in four separate target holes, with assays expected in the third quarter of 2021.

The initial drilling projects will largely aim to learn more about the site’s geology and lithology. The company aims to determine the orientation of potential gold deposits within the ore in Crossroads to inform further drilling projects. 

The company also noted a “halo” around the surveyed gold mineralisation site of tungsten (W), molybdenum (Mo) and arsenic (As) deposits.

Moho management comments

Moho Managing Director, Shane Sadleir, said the initial surveys are exciting.

The association of a geochemical halo of W – Mo – As anomalism with the recently identified gold mineralisation from RC drilling at the Crossroads prospect is very encouraging. We are looking forward to testing the extension of this mineralisation and the relationship with lithology and structures with the upcoming diamond drilling program.

IGO share price snapshot

The IGO share price is up double-digits in the past month after bullish notes from broker Macquarie on 6 May.

IGO shares have been significant climbers over the past few months, rising by more than $1 per share since the beginning of April. Overall, it’s up 72% over the past 12 months and 23% since 2021 began.

The IGO share price finished yesterday’s trading 2.3% higher at $7.86.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Lucas Radbourne has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post IGO (ASX:IGO) share price on watch as new gold drilling joint venture announced appeared first on The Motley Fool Australia.

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
Trade The US Market With ZERO Brokerage* + FREE Access To Trading Ideas & Value Analysis Tools. Click Here!