Middle Island confirms K4/K5 resource potential
THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has received further encouraging reverse circulation percussion (RC) drill results from the K4/K5 prospect on the company’s Reo gold project in Burkina Faso.
Middle Island said the latest results had defined a broad, 2.5 kilometre long, open ended zone of continuous gold mineralisation lying along the southeast margin of the K4/K5 anomaly, referred to as the Madi Shear, which the company considers to represent a major resource target.
Recent RC drilling intercepts include:
– 16 metres at 1.95 grams per tonne gold;
– 13m at 2.19g/t gold; and
– 10m at 3.47g/t gold.
Middle Island said these results complement previously reported RAB, aircore, RC and diamond drilling intercepts and have confirmed the company’s primary focus for further aircore and RC pattern drilling of the K4/K5 anomaly.
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RAB, aircore, RC and diamond drilling results returned from the
K4/K5 prospect, with new RC intercepts highlighted in yellow. Source:
Company announcement
“We are becoming increasingly confident that drilling at the K4/K5 prospect during the 2012-13 field season supports an exploration target that is more than adequate to achieve the company’s minimum 1.1 to 1.2 million ounce ‘stand-alone’ project objective,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.
“The work also demonstrates the potential for at least an additional four, higher grade, satellite deposits within the larger K4/K5 target area to compliment that previously identified at the Morley prospect, 20 kilometres to the north.
“We now have the confidence necessary to embark on a major resource definition aircore and RC drilling campaign at the K4/K5 prospect during the 2013-14 field season as funds permit.
“While it appears that the grade of mineralisation along the main Madi Zone is lower than ideal for a conventional CIL operation, the indicative metallurgy completed in the 2013 March quarter generated exceptional recoveries of 93 per cent, 97 per cent and 95 per cent in oxide, transitional and primary material respectively.
“This provides the opportunity to investigate heap leaching as a possible lower capital cost development alternative that will also be assessed during the 2013-14 field season.”