Total
0
Shares
Middle Island Resources (ASX: MDI) commences months worth of drilling
  • Middle Island Resources has commenced its first of a planned series of drilling programs at its Sandstone gold project in Western Australia
  • The drilling campaign will target 17 identified prospects and deposits within the company's existing Sandstone tenure
  • All the phases of drilling are planned to be completed during the March quarter
  • On market close, Middle Island remains steady and trading at 0.4¢ apiece

Middle Island Resources has commenced its first of a planned series of drilling programs at its Sandstone gold project in Western Australia.

The drilling campaign will target 17 identified prospects and deposits within the company's existing Sandstone tenure. The campaign is supported by the recent and current capital raisings.

The aim of the drilling is to confirm, identify and quantify additional open-pit gold deposits and deposit extensions to supplement existing mineral resources prior to completing.

All the phases of drilling are planned to be completed during the March quarter.

The company said that the 17 identified open-pit gold targets and deposits extensions have been prioritised after a detailed internal and external technical review.

The first program is an aircore (AC), which is approximately 2,300 metres. This program commenced this week and is expected to take 1-2 weeks to complete.

Once the results have been received and completed, the second program will take place, followed by the third phase.

Managing Director Rick Yeates says the planned multi-phase drilling campaign has the potential to add significant open pit Mineral Resources

"With the Australian dollar gold price near-record levels, any additional Mineral Resources identified during the drilling campaign should significantly enhance the outcome of the updated PFS, which is planned to recommence in the June quarter of 2020, hopefully leading to a positive recommissioning decision once completed," he said.

Middle Island Directors has acknowledged Stephen Copulos and his associates for their vision in identifying a more immediate gold production scenario and endorsing a broader vision to create a significant regional gold processing hub.

“I look forward to keeping you updated on progress with this extensive drilling campaign as results are forthcoming," Rick said.

"By its very nature, results from initial AC drilling are unlikely to generate significant excitement, however it is reasonable to anticipate more significant results from the subsequent Phase 1 RC drilling program," he added.

On market close, Middle Island remains steady and trading at 0.4¢ apiece.


Subscribe


MDI by the numbers
More From The Market Herald
Alkane Resources (ASX: ALK) receives drilling results from Rosewell

" Alkane Resources (ASX: ALK) receives drilling results from Rosewell

Alkane Resources (ALK) has found significant interceptions on the San Antonio and Roswell prospects at its Tomlingley Gold Operations mine.
Thor Mining (ASX:THR) finds gold, nickel and chrome potential at the Pilbara tenements

" Thor Mining (ASX:THR) finds gold, nickel and chrome potential at the Pilbara tenements

Thor Mining (THR) has found gold, nickel, and chromium assays at its Pilbara Goldfield tenements in Western Australia.
Kalamazoo (ASX:KZR) welcomes new strategic investors

" Kalamazoo (ASX:KZR) welcomes new strategic investors

Australian metals explorer Kalamazoo Resources (KZR) is ready to raise $8 million via a placement to distribute 20 million fully paid ordinary shares.
Aldoro Resources (ASX:ARN) sees positive potential at Penny South

" Aldoro Resources (ASX:ARN) sees positive potential at Penny South

Aldoro Resources (ARN) has updated the market on the progress of its drilling program at the Penny South Project in Western Australia.