Middle Island Resources Prepares Satellite Gold Resources
THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) reported maiden Mineral Resource estimates for the Plum Pudding and Old Town Well satellite gold deposits, located within the company’s wholly-owned Sandstone gold project in Western Australia.
The Plum Pudding and Old Town Well maiden estimates follow completion of a Phase 2 infill and extension drilling program, part of Middle Island’s exploration and resource definition drilling campaign focussed on the definition of additional open pit Mineral Resources prior to their inclusion for assessment as Ore Reserves in the Sandstone 2020 feasibility study (FS).
The Plum Pudding Resource has come in at 419,000 tonnes at 1.1 grams per tonne gold for 14,100 ounces of gold.
Old Town Well has been estimated at 351,000 tonnes at 0.9g/t gold for 10,100 ounces of gold.
The two satellite open pit deposits add a further 24,200 ounces of gold to the Sandstone project with over 90 per cent of the new resource classified in the Indicated category.
Plum Pudding and Old Town Well represent the first two of five new satellite open pit deposits quantified by Middle Island’s 2020 drilling campaign.
“Mineral Resources comprising the Plum Pudding and Old Town Well open pit satellite deposits increase total Sandstone project Mineral Resources to 692,000 ounces of gold and will make a meaningful contribution to the current feasibility study,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.
“The deposits will now be optimised and mine designs prepared to determine Ore Reserves likely to contribute to the Feasibility Study.
“Pending receipt of final resource definition samples backlogged in the assay laboratory, we look forward to finalising the remaining deposit estimates, being extensions to Goat Farm and Twin Shafts, and maiden estimates for the new Ridge, McClaren and McIntyre satellite deposits.”
Email: info@middleisland.com.au
