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Middle Island Resources Takes Sandstone Over 746,000 Ounces

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has again increased the aggregate Minerals Resources of the company’s wholly-owned Sandstone gold project in the central goldfields of Western Australia.

Middle Island Resources released maiden Mineral Resource estimates for Sandstone’s new Ridge and McClaren satellite open pit deposits, collectively adding a further 24,500 ounces of gold.

This figure takes the Sandstone aggregate Mineral Resources to 746,500 ounces of gold.

More than 72 per cent of Ridge and 80 per cent of McClaren’s Resource estimates are classified in the Indicated category.

The Ridge and McClaren deposits represent the final two – of five – new satellite open pit deposits quantified by Middle Island’s 50,000m drilling campaign in 2020.

Middle Island anticipates Phase 3 infill drilling of the shallow, persistent, higher grade, northern element of the Ridge deposit, which is presently classified as an Inferred Resource, should result in an upgrade to Indicated for consideration as an Ore Reserve in due course.

The exploration component of the Phase 3 drilling will also test extensions to the McIntyre deposit and the Shillington Gap target.

“The maiden Mineral Resources for the Ridge and McClaren satellite gold deposits represent a 24,500-ounce increase in the total Sandstone project JORC 2012 Mineral Resources, which now aggregate 746,500 ounces gold,” Middle Island Resources managing director Rick Yeates said in the company’s ASX announcement.

“The Ridge and McClaren deposits will be optimised and mine designs prepared to determine their contribution to Ore Reserves in the FS.

“The maiden Ridge Mineral Resource is a particularly pleasing outcome, as the higher grade, northern extension of this deposit appears to be only limited by the quantum of drilling.

“This shallow dipping, near surface, mineralised extension was the final area drilled in the Phase 2 campaign on a 40m by 40m pattern and, as such, is appropriately classified as an Inferred Resource.

“Infill drilling on a 20m by 20m pattern should see this shallow, higher grade, deposit extension reclassified as an Indicated Resource for consideration as an Ore Reserve.

“The deposit still remains open to the northeast and further drilling has therefore been planned for the Phase 3 campaign, which is in progress.

“Drilling at the Ridge gold deposit included a number of isolated bonanza grade intercepts, which have appropriately been cut for resource modelling purposes.

“However, it is anticipated that these may ultimately be confirmed as more continuous, likely resulting in positive mining and processing reconciliations.

“While the Ridge deposit appears to offer a low strip ratio proposition, the economics of mining the McClaren deposit may be challenged by higher anticipated waste to ore ratios.

“The Ridge and McClaren satellite open pit deposits represent the final Mineral Resource estimates contributing to the current FS, which is scheduled for completion in January 2021.

“Prior to commencement of the 2020 drilling campaign, the anticipated best case scenario was a doubling of Sandstone’s open pit Mineral Resources which, with the addition of Ridge and McClaren, we have now achieved.

“This is an extremely pleasing outcome that should ensure a positive FS outcome and a project recommissioning in 2021.

“An extensive program of RC sterilisation drilling is now well advanced at Sandstone and further exploration drilling is imminent with the addition of a second RC rig.

“This Phase 3 drilling campaign is scheduled for completion in late December 2020.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

Middle Island Resources Completes 2020 Drilling Assay Collection

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) released further important gold results from Phase 2 reverse circulation (RC) drilling undertaken at the company’s 100 per cent-owned Sandstone gold project in the central goldfields of Western Australia.

Middle Island Resources conducted the Phase 2 RC and diamond drilling program predominantly focussed on upgrading existing deposits and infilling and extending five new satellite open pit deposits, McClaren, McIntyre, Ridge, Old Town Well and Plum Pudding, it had identified by its Phase 1 RC drilling campaign in the first half of CY20.

All new deposits are located on existing Mining Leases within 2.5 kilometres of the company’s 100%-owned gold processing plant.

New Phase 2 RC drilling intercepts from the Ridge deposit include:

7 metres at 6.49 grams per tonne gold; and
4m at 5.32g/t gold.

Phase 2 RC intercepts from the McClaren deposit include:

3m at 29.8g/t gold;
4m at 5.82g/t gold; and
11m at 2.11g/t gold.

The company said these results had complemented those achieved in its Phase 1 round of drilling.

“The new results now complete receipt of all resource definition assays for the total of 10 deposit extensions and new gold deposit discoveries achieved at Sandstone over 2020,” Middle Island Resources said in its ASX announcement.

A Phase 3 exploration drilling campaign, focussed on the McIntyre, Ridge and Shillington Gap areas at Sandstone, is planned to commence immediately following an extensive sterilisation drilling program.

 

 

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

Middle Island Resources Provides Sandstone Feasibility Study Update

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) advised on the current status of a Feasibility Study (FS) underway into re-commissioning of the company’s wholly-owned and now advanced Sandstone gold project in the central goldfields of Western Australia.

The Study includes the existing processing plant that is on care and maintenance.

The company has now received the majority of assay data relevant to the Feasibility Study (FS) for the Sandstone gold project.

This includes Mineral Resource estimates that have been completed for eight of Sandstone’s 10 gold deposits; the remaining two are in progress.

Pit optimisations and pit designs have been completed for the first five quantified deposits with associated work on haul road and waste dump designs having also commenced.

Metallurgical testwork has commenced, supplementing previous testwork and operational performance.

Middle Island is conducting a concurrent scoping study into a modest upgrade to the capacity of the on-site mill with GR Engineering Services.

Design work on additional tailings storage capacity is well advanced in line with sterilisation drilling for new and expanded waste dumps, and a tailings facility expansion.

Evaluation continues into the refurbishment and upgrade of the substantial existing supporting infrastructure at Sandstone.

Detailed cost estimates and FS reporting is expected to be completed in January 2021.

“Having resolved the backlog of some 10,000 resource definition samples in the assay laboratory, we now have a clearer line of sight on the FS schedule and, therefore, in a position to provide a timely update on FS progress,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“Assuming a positive recommissioning decision during or before January 2021, and that remaining statutory approvals are forthcoming in a timely manner, there is every reason to anticipate that the Sandstone gold operation will be recommissioned in the September quarter of 2021.”

 

 

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

 

Middle Island Takes Sandstone Gold Project Over 730,000 Ounces

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has taken the Resource inventory for the company’s Sandstone gold project in Western Australia to over 730,000 ounces of gold.

The upgrade comes by way of a maiden Mineral Resource for Sandstone’s new McIntyre satellite open pit deposit, and updated estimates for the existing Twin Shafts and Goat Farm deposits, which have combined to add a further 40,100 ounces of gold.

More than 91 per cent of McIntyre and 84 per cent of Twin Shafts’ estimates are classified in the higher confidence Indicated category, while Goat Farm has been classified as an Inferred Mineral Resource, due to rig access constraints precluding a higher drill density.

McIntyre represents the third of five new satellite open pit deposits measured by Middle Island’s 50,000m drilling campaign undertake in 2020.

All three deposits will now be optimised to determine the in-pit Mineral Resources likely to contribute to Ore Reserves in the current Sandstone feasibility study.

“The maiden Mineral Resource for the McIntyre satellite deposit, and updated Mineral Resources comprising the Twin Shafts and Goat Farm open pit deposits increase the total Sandstone project Mineral Resources to 732,000 ounces gold,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“The McIntyre and Twin Shafts deposits will now be optimised and mine designs prepared to determine Ore Reserves likely to contribute to the FS.

“The lower strip ratio anticipated at the McIntyre satellite deposit suggests it may be scheduled for mining and processing earlier in the mine life, making a very valuable contribution to the project.

“Mining of the Twin Shafts southern extension will provide for greater tailings capacity within the existing in-pit licenced storage facility, while a cut-back of the existing Goat Farm open pit will provide for a larger capacity in-pit tailings storage option, beyond the initial open pit production scenario, should it be required.

“Final resource definition samples for the Ridge and McClaren deposits have now been received from the assay laboratory.

“We look forward to compiling and announcing these results shortly, prior to finalising Mineral Resource estimates for these two remaining satellite deposits.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

Middle Island Resources Encounters New Gold at Shillington Deposit

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has continued its drilling success with further results from an ongoing Phase 2 reverse circulation (RC) drilling campaign underway at the company’s 100 per cent-owned Sandstone gold project in the central goldfields of Western Australia.

Middle Islands Resources latest Phase 2 reverse circulation (RC) intercepts have come from the Shillington deposit, and include:

6 metres at 10.5 grams per tonne gold; and
8m at 9.12g/t gold

The recent drilling involved a program comprising 20 new holes, designed infill and upgrade two ‘panels’ of Inferred Mineral Resources within the optimum pit shell allowing them to be considered as Ore Reserves, and also confirm a shallow mineralised extension at the northern end of the deposit.

The Shillington deposit is situated 2.5 kilometres north of the company’s 100 per cent-owned 600,000 tonnes per annum gold processing plant.

The latest results also include a further 24 holes at the southern extension of the Twin Shafts deposit, located only 500m southwest of the mill.

This drilling also returned encouraging intercepts of:

4m at 8.12g/t gold;
4m at 3.12g/t gold; and
10m at 2.27g/t gold

Middle Island indicated the Twin Shafts results will be applied in resource estimation and pit optimisation studies to justify mining of the southern extension.

The company has a Phase 3 exploration drilling campaign, focussed on the McIntyre, Ridge and Shillington Gap areas at Sandstone, planned to commence late in October 2020.

 

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

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

 

Web: www.middleisland.com.au

 

 

Middle Island Returns High-Grade Gold Results from Plum Pudding

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) stuck in its thumb and pulled out multiple high-grade gold intercepts from the Plum Pudding deposit within the company’s Sandstone gold project in the central Goldfields of Western Australia.

The new results comprise broad, consistent, shallow (less than 40m downhole depth) drill intercepts over a 300 metres strike length and up to 90m width.

New Phase 2 reverse circulation (RC) intercepts at Plum Pudding include:

7 metres at 24.1 grams per tonne gold;
7m at 19g/t gold;
12m at 7.22g/t gold;
3m at 24.7g/t gold;
27m at 1.42g/t gold;
3m at 10g/t gold; and
12m at 2.46g/t gold.

The latest results complement previously achieved intercepts derived from Phase 1 and historic RC drilling at Plum Pudding.

Middle Island has completed more than 45,000m of drilling in its Phase 1 and Phase 2 campaigns this year, extending several existing Sandstone deposits and identifying five new satellite open pit deposits.

The on-going Phase 2 RC and diamond drilling programs are almost exclusively focussed on infilling and extending the five new satellite open pit deposits, McClaren, McIntyre, Ridge, Old Town Well and Plum Pudding, identified by the Phase 1 RC drilling campaign in the first half of 2020.

All new satellite deposits are located on existing Mining Leases within 2.5 kilometres of the company’s 100 per cent-owned 600,000 tonnes per annum gold processing plant.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

Middle Island Resources Gains Northern Territory Barkly Approvals

THE BOURSE WHISPERER: Middle Island Resources has had all 10 exploration licences (ELs), that make up the company’s 100 per cent-owned Barkly super-project in the Northern Territory, approved by the Northern Territory Government for granting.

Middle Island explained the formal grant is now only dependent on the lifting of COVID-19 travel restrictions or at the company’s earlier election, however, at this stage MDI has elected not to trigger the formal grant at this stage.

The Barkly project comprises 3,253 square kilometres that extend semi-continuously for over 350 kilometres along the axis of the East Tennant basement ridge, extending east from Tennant Creek across the Barkly Tableland to the Queensland border.

Pre-competitive government research suggests the area is highly prospective for Tier 1 iron oxide-copper-gold (IOCG) deposits.

Of note is that the Middle Island ELs in the Barkly area surround or immediately adjoin those of Newcrest Mining, while those in the Tennant Creek area adjoin Rio Tinto tenure, providing strong endorsement of the project’s technical merit.

As exciting as the Barkly project may become, for now Middle Island’s immediate focus remains firmly in Western Australia at the company’s Sandstone gold project development.

“We are extremely pleased to confirm that all 10 Exploration Licences comprising the Barkly copper-gold project in the NT are now available for grant, making Middle Island one of the first movers and largest tenement holders along the highly prospective East Tennant Ridge,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“Middle Island has secured priority areas and targets in several cases, and the allocated areas also include or immediately adjoin several sites planned for much anticipated government stratigraphic basement drilling.

“The Barkly project represents a second string to Middle Island’s bow, with the immediate focus firmly on completing the feasibility study on the advanced Sandstone gold project in Western Australia, with a view to recommissioning that project early in 2021.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

Middle Island Increases Two Mile Hill Resource Estimate

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has updated the resource estimate for the Two Mile Hill open pit gold deposit within the company’s wholly-owned Sandstone gold project in the central goldfields of WA.

Middle Island reported the updated estimate follows completion of infill and extension drilling undertaken as part of a 2020 exploration and resource definition drilling campaign at Sandstone.

Two Mile Hill is one of 10 Sandstone gold deposits that are the subject of Middle Island’s ongoing drilling campaign and feasibility study (FS) in 2020.

Source: Company announcement

This campaign is still underway and is focussed on the definition of additional open pit Mineral Resources for inclusion for assessment as Ore Reserves in the project’s FS.

The update has resulted in a 13 per cent increase in the Two Mile Hill open pit Mineral Resource, to 1.25 million tonnes at 1.36 grams per tonne gold for 55,000 ounces.

It also increases Sandstone’s current total project Mineral Resources to 657,500 ounces gold which, importantly, does not include Middle Island’s five new satellite gold discoveries where resource definition drilling is being finalised.

The proportion of the Two Mile Hill open pit deposit classified as an Indicated Mineral Resource also increased to 95 per cent.

Two Mile Hill is one of 10 Sandstone gold deposits the subject of Middle Island’s ongoing +40,000m drilling campaign and feasibility study in 2020.

“The updated Mineral Resource estimate at the Two Mile Hill open pit gold deposit results in a marginal increase in tonnage and grade, primarily derived from infill drilling of the basalt-hosted mineralisation in the northeast quadrant of the deposit,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“This outcome represents an increase of approximately 7,000 ounces (or 13%) to the Two Mile Hill open pit Mineral Resource, with some 95 per cent now classified in the higher confidence Indicated category.

“This is a very pleasing outcome, which when re-optimised, will make a further meaningful contribution to open pit Mineral Resources contributing to the feasibility study, the outcome of which is looking increasingly positive.

“Resource estimates for the five new satellite open pit deposits have commenced which, along with extensions to the Goat Farm and Twin Shafts deposits, will be progressively provided as final results from the Phase 2 drilling campaign are received and compiled.”

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au

 

Middle Island Resources Hits “Bonanza” Gold Intercepts at Sandstone

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) declared its latest drilling results from the company’s 100 per cent-owned Sandstone gold project in Western Australia as being “bonanza gold grade intercepts”.

Middle Island’s latest gold results emerge from the recent Phase 2 reverse circulation (RC) drilling campaign at the Sandstone gold project at the new Ridge satellite deposit.

New Phase 2 reverse circulation (RC) intercepts at Ridge include:

4m at 99.5 grams per tonne gold
4m at 50.5g/t gold
4m at 2.42g/t gold
9m at 1.05g/t gold
9m at 5.41g/t gold
2m at 5.85g/t gold
11m at 2.16g/t gold

“Phase 2 RC drilling at the new Ridge satellite deposit confirm the previous drilling and, subject to pending drilling results from the northern extension, provide further encouragement that Ridge likely represents another new 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.

“The veracity of a bonanza grade intercept in MSRC544 of 4m at 50.5g/t gold (from 3m depth), including 1m at 198g/t gold (from 4m) is confirmed by MSRC545, drilled 20 metres directly behind and down dip from MSRC544, which includes an intercept of 9m at 5.41g/t gold (from 22m depth).

“MSRC544 and MSRC545 are infill holes drilled towards the southern end of the Ridge satellite gold deposit.

“The bonanza intercept in MSRC530 of 4m at 99.5g/t gold (from 13m depth), includes 1m at 390g/t gold (from 14m) for which a duplicate assay of 1m at 502g/t gold was returned.

“MSRC530 is the most northerly hole assayed to date at the Ridge deposit; potential extensions to the north are being addressed via the completion of a further 37 RC holes (1,261m), for which assays results are pending.

“To the north of this, yet again, lies the Shillington Gap target, where initial exploratory RC drill traverses are planned later in the Phase 2 campaign.”

Ridge is one of a cluster of three new proximal satellite gold deposits at Sandstone, the others being McClaren and McIntyre, and all hosted within the southeast extension of the Shillington banded iron formation (BIF) package, located on granted Mining Lease M57/129, 2.5 kilometres from the company’s on-site Sandstone gold processing plant.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@middleisland.com.au

 

Web: www.middleisland.com.au