- Middle Island Resources (MDI) has added a further 24,200 ounces of gold to its Sandstone Gold Project in the central goldfields of Western Australia
- This follows maiden mineral resources for the project’s new Plum Pudding and Old Town Well satellite open pit deposits
- The resource estimates were completed following a phase two infill and extension drilling program
- Pleasingly, this increases Sandstone’s mineral resource to a total of 692,000 ounces of gold
- Middle Island is now progressing metallurgical studies which will support the current feasibility study
- Company shares are down 5.88 per cent and are trading for 1.6 cents
Middle Island Resources (MDI) has added a further 24,200 ounces of gold to its Sandstone Gold Project in the central goldfields of Western Australia.
This follows maiden mineral resources for the project’s new Plum Pudding and Old Town Well satellite open pit deposits.
Middle Island completed the maiden resource estimates after a phase two infill and extension drilling program which was part of this year’s 50,000-metre exploration and resource definition drilling program.
These deposits are the first two of five new open pit deposits quantified by Middle Island’s major 2020 drilling program.
Specifically, Plum Pudding has an inferred and indicated mineral resource estimate of 419,000 tonnes at 1.1g/t gold for 14,100 ounces.
Old Town has an inferred and indicated mineral resource estimate of 351,000 tonnes at 0.9g/t gold for 10,100 ounces.
This brings Sandstone’s current mineral resource to a total of 692,000 ounces of gold.
“Mineral Resources comprising the Plum Pudding and Old Town Well open pit satellite deposits increase total Sandstone project Mineral Resources to 692,000oz gold and will make a meaningful contribution to the current feasibility study,” Managing Director Rick Yeates said.
Geological, geotechnical, engineering and metallurgical studies are in progress to further characterise gold mineralisation and establish the potential for a mining operation at the deposits. These are expected to contribute towards the current Sandstone Feasibility Study.
“Pending receipt of final resource definition samples backlogged in the assay laboratory, we look forward to finalising the remaining deposit estimates, being extensions to Goat Farm and Twin Shafts, and maiden estimates for the new Ridge, McClaren and McIntyre satellite deposits,” Rick said.
Company shares are down 5.88 per cent and are trading for 1.6 cents at 12:32 pm AEST.