- Middle Island Resources (MDI) has intersected 99.5g/t gold from drilling at the Ridge deposit, within the Sandstone Gold Project in WA
- The phase two reverse circulation drilling program has been designed to infill and extend new and existing deposits
- Middle Island hopes drilling will define the mineral resources to the indicated category
- Roughly 9000 metres have been completed during phase two and the program is running to schedule
- Company shares are up 22.2 per cent and are trading for 2.2 cents each
Middle Island Resources (MDI) has intersected 99.5g/t gold during a phase two reverse circulation (RC) drilling program at the Ridge deposit.
The new Ridge deposit lies within the wholly-owned Sandstone Gold Project in the central Goldfields of Western Australia.
Drilling is designed to infill and extend existing and new deposits that were defined during the phase one program. Middle Island hopes drilling will define mineral resources to an indicated classification.
Hole MSRC530 returned the intercept of four metres at 99.5g/t gold from 13 metres, including one metre at 390g/t gold from 14 metres. A duplicate assay of one metre at 502g/t gold was returned.
MSRC530 is an extension hole drilled at the extreme northern end of the Ridge satellite gold deposit which remains open to the north into the Shillington Gap target. In the later stage of the program, the company is planning to undertake RC drilling at this target.
Middle Island needs further results to fully understand the potential of the deposit, however, this initial result lies about 40 metres along strike from a phase one RC drill intercept of three metres at 8.77g/t gold. This previously reported intercept provides encouragement for this style of mineralisation persisting to the north and underneath the Shillington Gap target area.
Roughly 9000 metres of the phase two drilling program have been completed and the program is running to schedule.
Company shares are up 22.2 per cent and are trading for 2.2 cents each at 10:06 am AEST.