Middle Island Resources (ASX:MDI) - Managing Director, Rick Yeates
Managing Director, Rick Yeates
Source: Business News
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  • Middle Island Resources (MDI) has received further encouraging results from its recently completed phase one drilling program at the Sandstone Gold Project
  • The aim of this program is to extend the mineral resource and reclassify it from inferred to indicated status
  • Results from the Two Mile Hill deposit confirm that an upgrade is possible
  • Meanwhile, results from the remaining holes will be announced once they have been received and assayed
  • Middle Island is down 4.35 per cent in mid-morning trade and shares are selling for 1.1 cents each

Middle Island Resources (MDI) has received further encouraging results from its recently completed phase one drilling program at the Sandstone Gold Project.

This phase one program, that consisted of 13,400 metres, represented the second of four planned programs that will be undertaken at the project.

Drilling focused exclusively on open-pit targets at Sandstone and tested 14 gold deposits and its aim is to extend the mineral resource, reclassify the mineral resources from inferred to indicated, and update the JORC code 2004 to JORC 2012.

The six deposits of Two Mile Hill, Shillington, Wirraminna, Goat Farm, Twin Shafts, and Plum Pudding contributed to this.

The remaining eight prospects have previously had little to no drilling but they represent a strong potential.

These include Ridge, McIntyre, McClaren, Old Town Well, Wirraminna Laterite, Davis, and Tailing South and East.

Two Mile Hill

Reverse circulation (RC) drilling at Two Mile Hill was designed to extend and provide additional information to the existing indicated and inferred mineral resources.

Together with previously released results from the deposit, eight outstanding results have been received.

This has resulted in a previously reported intercept of 16 metres at 1.64g/t gold being extended to a revised intercept of 22 metres at 1.42g/t gold.

Results received to date have confirmed that the northern area of Two Mile Hill is very sensitive to mineral resource upgrades.

Twin Shafts

Results from the Twin Shafts deposit include two metres at 1.11g/t gold from 25 metres, two metres at 0.99g/t gold from 29 metres, and four metres at 0.98g/t gold from 45 metres.

Even though the mineralisation is situated beneath five metres of waste rock, it is of significant interest to be estimated as a mineral resource and advanced to confirm its economic significance as part of the updated feasibility study.

Tailings South

No significant intercepts were received from the RC drilling and a previous geochemical gold anomaly remains untested.

“Given the extraordinary success of the 2020 Sandstone drilling campaign to date, identifying a fifth new deposit was always going to be a stretch,” Managing Director Rick Yeates commented.

“Despite the anticipation, we are unable to do so on this occasion, but Phase 1 RC drilling results from the remaining deposits are still being received and compiled,” he said.

Results from the remaining holes will be announced once they have been received and assayed.

Middle Island is down 4.35 per cent in mid-morning trade and shares are selling for 1.1 cents each at 10:35 am AEST.

MDI by the numbers
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