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- Middle Island Resources (MDI) has prepared a maiden mineral resource estimate for its McIntyre satellite open pit gold deposit in WA
- The company has updated the open pit estimates for the Twin Shafts and Goat Farm deposits
- All three of the resource estimates were independently prepared by Shaun Searle of Ashmore Advisory
- More than 91 per cent of McIntyre’s and 84 per cent of Twin Shaft’s estimates are in the indicated category, while all of Goat Farm’s is in the inferred category
- Middle Island is up 11.8 per cent on the market with shares trading for 1.9 cents
Middle Island Resources (MDI) has prepared a maiden mineral resource estimate for its McIntyre satellite open pit gold deposit.
The company has also updated the open pit estimates for the Twin Shafts and Goat Farm deposits.
All three of these deposits lie in the Sandstone Gold Project which is located around 400 kilometres northwest of Kalgoorlie.
The mineral resource estimates were independently prepared by Shaun Searle of Ashmore Advisory.
Further, these updates take Sandstone’s current inventory to 732,000 ounces.
More than 91 per cent of McIntyre’s and 84 per cent of Twin Shaft’s estimates are in the indicated category, while all of Goat Farm’s is in the inferred category.
“The maiden mineral resource for the McIntyre satellite deposit, and updated mineral resources comprising the Twin Shafts and Goat Farm open pit deposits increase the total Sandstone project mineral resources to 732,000 ounces of gold,” Managing Director Rick Yeates said.
“The McIntyre and Twin Shafts deposits will now be optimised and mine designs prepared to determine ore reserves likely to contribute to the pre feasibility study,” he said.
“Final resource definition samples for the Ridge and McClaren deposits have now been received from the assay laboratory with results to be announced shortly,” he added.
Middle Island is up 11.8 per cent on the market with shares trading for 1.9 cents at 1:01 pm AEDT.
