Middle Island Resources Defines Second New Sandstone Gold Deposit
THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) reported further results from a recently completed reverse circulation (RC) drilling program at the company’s 100 per cent-owned Sandstone gold project in the central goldfields of Western Australia.
Middle Island Resources carried out the Phase 1 RC program as one of four planned programs that collectively comprise a total 17,300 metres exploration and resource definition drilling campaign.
The drilling has identified a new gold deposit – the McIntyre prospect, within the Sandstone project.
The McIntyre prospect was defined by new, consistent, shallow drill intercepts including:
24 metres at 1.66 grams per tonne gold;
23m at 1.4g/t gold;
11m at 1.39g/t gold; and
18m at 1.35g/t gold.
The company believes there to be a high likelihood that the McIntyre prospect will further complement the project’s mill recommissioning inventory.
McIntyre is one of a cluster of three proximal gold prospects, which include the recently-reported McClaren prospect where substantial intercepts of 4m at 90.6g/t gold and 8m at 3.35g/t gold were achieved.
McIntyre, McClaren and the Ridge gold prospects are hosted within the southeast extension of the Shillington banded iron formation (BIF) package, located on a granted Mining Lease, 2.5km from the 100 per cent-owned Sandstone gold processing plant.
“The broad, consistent gold intercepts returned from Phase 1 RC drilling at the McIntyre prospect provide further exciting encouragement that the prospect may well prove to represent a second new, low strip ratio, open pit deposit to supplement the planned Sandstone mill recommissioning inventory,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.
“This follows close on the heels of significant intercepts of 4m at 90.6 grams per tonne gold and 8m at 3.35 grams per tonne gold from the adjacent McClaren prospect as announced last week.
“Recently completed geological mapping of the proximal McIntyre, McClaren and Ridge prospects, all of which are hosted in the Shillington BIF package, reveal a structural link between the McIntyre and McClaren prospects that offers opportunities for resource extensions to both.
“The McIntyre and McClaren prospects lie within granted Mining Lease M57/129 and only 2.5km from the company’s 100 per cent-owned, 600,000 tonnes per annum gold processing plant.
“The Directors look forward to sharing further Phase 1 RC drilling results with you as they are received and compiled.
“At this stage, the results of this program, coupled with the resources announced last week and the prevailing gold price, significantly heighten the prospect of a positive mill recommissioning decision.”
Email: info@middleisland.com.au
