Middle Island identifies new targets at Sandstone

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THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has completed a geophysical review at the company’s recently-acquired Sandstone gold project, which has identified additional targets.

Middle Island claimed the geophysical modelling of the Two Mile Hill banded iron formation (BIF) target has identified the presence of two additional prospective BIF units, which have respectively been modelled to lie below a known, high-grade, mineralised BIF.

This Mineralised BIF recently returned resampling results of:
22 metres at 23.8 grams per tonne gold;
8m at 56g/t gold; and
5m at 26.5g/t gold.

Middle Island considers the identification of the further two BIF units at depth potentially increases the aggregate, prospective, mineralised plunge length along both the east and west contacts of the tonalite from 500m to 1,500m, and in doing so, substantially increasing this high-grade underground target.

Modelling of the existing down-hole electromagnetic (DHEM) data in hole TRCD734 has identified an off-hole conductor coincident with the newly identified, middle, BIF unit, immediately adjacent to the Two Mile Hill tonalite intrusive.

Middle Island has interpreted this to indicate the conductive plate almost certainly represents one or more zones of massive sulphide (pyrite) which, in the upper BIF, hosts intervals of high-grade gold mineralisation, and as such, represents an immediate new target for proposed diamond drilling.

In order to refine the new targets for proposed diamond drilling in October, a geophysical crew has been commissioned to commence additional surveys next week.

“The initial geophysical component of the Two Mile Hill BIF review identifies that multiple BIF units are present at Two Mile Hill, representing significant, high value, underground targets for immediate diamond drill testing,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

Email: info@middleisland.com.au

Website: www.middleisland.com.au