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- All 10 of Middle Island Resources’ (MDI) exploration licence applications have been approved by the Northern Territory Government
- All up, the licences cover 3253 square kilometres and are located in the Barkly region of the Northern Territory
- The NT Department of Primary Industry and Resources (DPIR) has offered to postpone formal granting until COVID-19 travel restrictions have been lifted
- In agreement, Middle Island has decided not to trigger a formal licence grant at this stage
- Interestingly, the licences surround or adjoin Newcrest Mining’s applications and Rio Tinto’s tenements
- These approvals position Middle Island as one of the largest tenement holders within the newly-identified East Tennant province
- Company shares are up five per cent and are trading for 2.1 cents
All 10 of Middle Island Resources’ (MDI) exploration licence applications have been approved by the Northern Territory Government.
The NT Department of Primary Industry and Resources (DPIR) has offered to postpone formal granting until COVID-19 travel restrictions have been lifted. Taking the DPIR up on its offer, Middle Island has chosen not to trigger a formal grant just yet to extend the renewal date.
All up, the licences cover 3253 square kilometres extending semi-continuously for over 350 kilometres along the East Tennant Proterozoic basement ridge from Tennant Creek and east to the Queensland border.
This area is held by Middle Island Resources’ wholly-owned subsidiary, Barkly Operations.
Five of the company’s exploration licences within Barkly surround or adjoin Newcrest Mining (NCM) applications along the East Tennant Ridge and the other five in the Tennant Creek area adjoin Rio Tinto’s (RIO) tenements.
These approvals position Middle Island as one of the largest tenement holders within the newly-identified East Tennant province.
“We are extremely pleased to confirm that all 10 Exploration Licences comprising the Barkly copper-gold project in the NT are now available for grant, making Middle Island one of the first movers and largest tenement holders along the highly prospective East Tennant Ridge,” Managing Director Rick Yeates said.
Once COVID-19 restrictions have been lifted and the licences are formally granted, Middle Island Resources will focus on engaging stakeholders, compiling data, and will conduct detailed modelling of exploration targets. It will also plan geophysical surveys to refine the modelled targets before drilling.
Company shares are up five per cent and are trading for 2.1 cents each at 11:29 am AEST.
