22m long gold hit for Middle Island at Sandstone

25/05/2020 - 09:39

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Middle Island Resources has been on a roll at its Sandstone project in Western Australia, having smashed out over 13 kilometres of phase one RC drilling across some 14 different prospects that has identified four new deposits in the process. All of the phase one drilling was completed within a 4km radius of the company’s processing plant and importantly, most of the targets already sit on mining leases.

Middle Island Resources has been on a roll at its Sandstone project in Western Australia, having smashed out over 13 kilometres of phase one RC drilling across some 14 different prospects that has identified  four new deposits in the process. All of the phase one drilling was completed within a 4km radius of the company’s historic mothballed processing plant and importantly, most of the targets already sit on mining leases. 

This week, the company said that new results from its Two-Mile Hill deposit further bolster its ambition to deepen and extend the proposed open pit in order to squeeze out as many ounces as is economically viable. 

The headline number from the latest set of results is an impressive 22 metre intersection going 1.42 grams per tonne gold from 65m down hole. 

At the Twin Shafts deposit, Middle Island said the results are pretty much consistent with previous drilling and are good enough to wrap a maiden resource around. 

The results from the maiden resource at Twin Shafts will be included in the impending preliminary pre-feasibility study. 

The company also said that Twin Shafts is covered by about five metres of waste, which might provide a very handy source of material for for initial processing at the company’s tailing’s facility.  

Middle Island Managing Director, Rick Yeates said:…“the company raised a further A$4 million” [recently] … “necessitated by the success of the drilling campaign to date, with four new deposits identified, requiring a significantly expanded phase two RC drilling program in order to bring these new deposits into an indicated mineral resource classification for consideration as ore reserves in the updated feasibility study. 

“The phase two RC program will be expedited by engaging an additional drill rig.” 

The phase one drilling program was designed by the company to extend and infill the existing mineral resources and the results to date would seem to provide a touch of excitement pending the updated numbers. 

Middle Island said recently that there are still results outstanding for 44 of the 172 holes drilled to-date and it anticipates these numbers should hit the market soon.

 

Is your ASX-listed company doing something interesting? Contact : matt.birney@businessnews.com.au

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