- Middle Island Resources (MDI) identifies two drill-ready targets at the Crosswinds prospect in the Northern Territory
- Survey work was conducted in December last year which highlighted a potential chargeable target coincident with the geological model for Crosswinds
- A second anomalous target was later identified which Middle Island says is in a favourable location for an IOCG-style deposit discovery
- Middle Island says the results are “very exciting” and will commence drilling at some point this month
- Company shares end the day eight per cent in the green to close at 13.5 cents
Middle Island Resources (MDI) has identified two drill-ready targets at the Crosswinds prospect.
The Crosswinds Copper prospect is part of the Barkly Super project which is located in the Northern Territory.
Planetary Geophysics completed an induced polarisation (IP) survey in December last year which highlighted a potential chargeable target at a 500-metre depth.
It’s believed that the mineralisation style present in the area is for massive and disseminated sulphides similar to the iron oxide copper-gold (IOCG) “Olympic Dam”-type deposits.
In total, five survey lines have been completed at the prospect which have defined two anomalous targets. The second is located just a few hundred metres to the northwest.
A subsequent gravity survey was completed which the company said added to its datasets and better defined the drill-ready targets.
“The IP results are very encouraging and very exciting: two targets where we expected one!” Executive Director Brad Marwood said.
“The original anomaly defined by the IP is coincident with the geological model defined by MDI for the Crosswinds project, whilst the second anomaly is also in a favourable location for an IOCG-style deposit discovery.”
Middle Island will now place drill hole sites and drilling is expected to begin sometime this month.
Company shares ended the day eight per cent in the green to close at 13.5 cents.