Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Middle Island Resources (MDI) has encountered more than 90g/t gold from a reverse circulation (RC) drilling program at its Sandstone gold project in Western Australia
  • Drilling was undertaken at the Two Mile Hill Deposit, and the McClaren and Tailings East prospects
  • Further results are planned to be released in the upcoming weeks
  • The company now is now planning another drill at the McClaren Prospect to see whether it has the potential to represent a new open-pit deposit
  • Middle Island has ended the day 25 per cent in the green with shares trading for once cent each

Middle Island Resources (MDI) has encountered more than 90g/t gold from a reverse circulation (RC) drilling program at its Sandstone gold project.

This phase one program consisted of 13,400 metres and primarily focused on open-pit targets, with a total of 14 gold deposits and prospects being tested.

Middle Island’s Sandstone gold project is located 400 kilometres northwest of Kalgoorlie in Western Australia.

Since the 1890s, more than one million ounces of gold have been produced from the surface, open pit, and underground operations at Sandstone.

Results come from the Two Mile Hill Deposit, and the McClaren and Tailings East prospects.

Two Mile Hill Deposit

Reverse circulation drilling at Two Mile Hill was designed to extend and provide confidence in the existing 2012 JORC indicated and inferred mineral resources.

Best results from drilling include four metres at 8.04g/t gold from 144 metres, three metres at 7.81g/t gold, and 16 metres at 1.64g/t gold from 71 metres.

McClaren Prospect

Significant results from McClaren include the bonanza result of four metres at 90.6g/t gold, and followed up by eight metres at 3.35g/t gold.

McClaren was originally identified by historic exploration drilling that was completed by Middle Island, Troy Resources, and Herald Resources.

Gold mineralisation at this prospect is primarily hosted at a depth of 50 metres and it continues for a length of 250 to 300 metres and remains open to both the southeast and northwest.

For the phase two drill, Middle Island will test McClaren and see whether it has the potential to represent a new open-pit deposit.

Tailings East Prospect

The only significant result that was returned from Tailings East includes four metres at 2.55g/t gold from 52 metres.

However, follow-up drilling is planned as this result lies on the margins of an anomaly.

“The bonanza grade intercept of four metres at 90.6g/t is an exciting early outcome from the phase one RC drilling results at McClaren,” Managing Director Rick Yeates commented.

“However, it is as much to do with the now apparent continuity of mineralisation in this and surrounding holes, that, subject to resampling and infill drilling, suggests the McClaren prospect may well prove to represent an additional new open-pit deposit to supplement the planned recommissioning inventory,” he added.

“I am equally encouraged by the initial drill intercepts within basalts in the northeast quadrant of the Two Mile Hill open pit deposit, which have the potential to extend and upgrade Sandstone’s existing mineral resources,” he concluded.

Middle Island has ended the day 25 per cent in the green with shares trading for one cent each in a $14.12 million market cap.

MDI by the numbers
More From The Market Herald
Essential Metals (ASX:ESS) - Managing Director, Tim Spencer

" Essential Metals (ASX:ESS) rides lithium boom with sale of Mavis Lake

Essential Metals (ESS) is looking to capitalise on the current “strong interest in lithium,” inking a deal to sell its stake in the
Poseidon Nickel (ASX:POS) - MD and CEO, Peter Harold

" Poseidon Nickel (ASX:POS) reports latest results from Tundra-Mute

Poseidon Nickel (POS) has provided an update on exploration activities within its Black Swan project in Western Australia.

" Anova Metals (ASX:AWV) begins drilling at Big Springs

Anova Metals (AWV) has begun the 2021 reverse circulation (RC) drilling program at its Big Springs gold project in Nevada.
Raiden Resources (ASX:RDN) - Managing Director, Dusko Ljubojevic

" Raiden Resources (ASX:RDN) completes tenement acquisition

Raiden Resources (RDN) has completed the acquisition of the nickel-copper-platinum group element (PGE) tenements adjacent to its Mt Sholl project.