- Middle Island Resources (MDI) has found further significant gold results at the Ridge Satellite deposit within the Sandstone gold project
- The company has received the results from part of its phase two reverse circulation (RC) drilling program
- Results include four metres at 99.5g/t and four metres at 50.5g/t of gold
- So far in 2020, Middle Island completed more than 40,000 metres of drilling in phase one and two programs
- Middle Island is up 8.7 per cent on the market today and is trading for 2.5 cents per share
Middle Island Resources (MDI) has found further significant gold results at the Ridge Satellite deposit within the Sandstone gold project in Western Australia.
The company has received the results from part of its phase two reverse circulation (RC) drilling program. Results include four metres at 99.5g/t and four metres at 50.5g/t of gold.
So far in 2020, Middle Island completed more than 40,000 metres of drilling in phase one and two programs, extending several deposits and identifying five new satellite deposits in the process.
There is still around 57 RC holes to be drilled before phase two is completed. The program is designed to infill and extend the five new satellite open pit deposits to an indicated mineral resource classification.
Managing Director Rick Yeates said Ridge is likely to represent another new open-pit deposit to supplement the planned Sandstone mill recommissioning inventory.
“Detailed geological mapping in the vicinity of the McClaren-McIntyre-Ridge satellite gold deposits, together with high resolution airborne magnetic data and on-going RC and diamond drilling, will assist in resolving the complex stratigraphic and structural architecture in this highly prospective area,” he said.
“Given the close proximity of the satellite deposits, and in the context of current data, it is well likely that further work will demonstrate continuity between the three,” he added.
Middle Island is up 8.7 per cent on the market today and is trading for 2.5 cents per share at 12:05 pm AEST.