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Middle Island Resources Scores at McIntyre Deposit

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) continued its run of positive results from a 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 Island’s recent results have come in the form of broad intervals of shallow dipping, BIF-hosted gold mineralisation from surface in infill and extension drilling of the new McIntyre satellite gold deposit.

New Phase 2 reverse circulation (RC) intercepts from McIntyre include:

13 metres at 1.94 grams per tonne gold
9m at 3.53g/t gold
26m at 1.38g/t gold
18m at 1.36g/t gold
17m at 1.20g/t gold
23m at 2.08g/t gold
24m at 1.95g/t gold
18m at 2.47g/t gold
14m at 2.22g/t gold

Middle Island believes the McIntyre prospect could very well make a positive contribution to the project’s mill recommissioning inventory.

“Phase 2 infill and extension RC drilling at the new McIntyre deposit has confirmed the broad, consistent gold intercepts returned from Phase 1 RC drilling of that deposit,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“These provide further encouragement that McIntyre will likely represent a new, low strip ratio, open pit deposit to supplement the planned Sandstone mill recommissioning inventory.

“I look forward to sharing with you further Phase 2 RC drilling results, derived from the remaining four new satellite deposits, as they are received and compiled over the coming weeks.”

The McIntyre results were quickly followed up by further Phase 2 reverse circulation (RC) intercepts from the Old Town Well target that included:

3m at 20.6g/t gold
14m at 2.22g/t gold
6m at 3.23g/t gold
14m at 1g/t gold
8m at 1.8g/t gold

Middle Island considers Old Town Well is likely to represent a larger oxide gold deposit, the majority of which is shallow, including a blanket of mineralised laterite from surface.

The Old Town Well satellite deposit, situated only 600m north of the company’s 100 per cent-owned 600,000 tonnes per annum gold processing plant, will now be assessed as part of Sandstone’s current feasibility study (FS).

TO READ BOTH ANNOUNCEMENTS IN FULL: CLICK HERE and CLICK HERE

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Middle Island Resources Kicks Off Phase 2 Drilling at Sandstone

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has begun a Phase 2 drilling campaign at the company’s 100 per cent-owned Sandstone gold project in the central goldfields of Western Australia.

Middle Island Resources has been eager to commence the Phase 2 campaign, following recent results from the Phase 1 campaign that identified five new satellite gold deposits, McClaren, McIntyre, Ridge, Old Town Well and Plum Pudding, at the Sandstone project.

The upcoming drilling is to comprise an initial 222 holes (13,846m) of reverse circulation (RC) resource definition drilling and around 10 holes (1,000m) of HQ3 diamond drilling.

The company has expanded the RC drilling component from an original 3,000m due to the success of the Phase 1 campaign, as it now has to cover five new satellite gold deposits, rather than the one new deposit that was originally envisaged.

The Phase 2 RC drilling will also take in initial assessment of at least two further exploration priorities that have been shown up by the Phase 1 campaign.

The first exploration target is the undrilled, 1.15 kilometres-long Shillington Gap, with the second being extensive zones of gold mineralisation observed in historic drilling below and adjacent to the Eureka open pit deposit, situated 700m west of the company’s 100 per cent-owned 600,000 tonnes per annum gold processing plant.

“Following an extremely successful start to the extended 2020 drilling campaign at the Sandstone gold project, I am pleased to confirm that the Phase 2 RC drilling program commenced on schedule last week,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“The Phase 2 program comprises an initial 13,800 metres of resource definition RC drilling to infill and extend the five new satellite deposits identified during Phase 1 work, along with confirmation of a possible southern extension to the Shillington deposit.

“The resource definition component of the program will be followed by an exploration element to provide initial assessment of two further significant targets identified by the Phase 1 drilling, at Shillington Gap and Eureka.

“Planning for this component is still on-going and will be partly predicated on assessment of the imminent high resolution airborne magnetic and radiometric survey results.

“I look forward to sharing the details, progress and results of an extremely exciting and expanded Phase 2 program with you during June and July.”

Middle Island indicated it is currently undertaking preliminary resource estimates and pit optimisations on all five of the new satellite deposits to assist in refining planned Phase 2 resource definition RC and diamond drilling.

Final resource estimates are anticipated to then be prepared for the Two Mile Hill, Wirraminna and Shillington deposits, where resource definition drilling has largely been completed, prior to final pit optimisation studies for a feasibility study update.

Shillington will be the last of the three deposits to be re-estimated, following limited Phase 2 RC drilling on the recently identified southern extension.

Final resource estimates and pit optimisations will then be progressively undertaken on the new satellite deposits as the Phase 2 drilling results are received and compiled, prior to inclusion in the feasibility study.

 

Email: info@middleisalnd.com.au

Web: www.middleisland.com.au

 

Middle Island Resources Racks-up Further Encouraging Sandstone Drill Results

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) has continued its run of encouraging results from a Phase 1, reverse circulation (RC) drilling program recently completed at the company’s 100 per cent-owned Sandstone gold project in the central goldfields of Western Australia.

Middle Island Resources conducted the Phase 1 RC program, focussing on open pit targets at Sandstone.

The company has subsequently tested around 14 gold deposits and prospects, all within four kilometres of its 100 per cent-owned gold processing plant and the majority on permitted Mining Leases.

The latest results came from 1m assays derived from drilling at the Twin Shafts deposit and Tailings South prospect, along with eight remaining assay results from the Two Mile Hill deposit.

These included an extended intercept of 22m at 1.42g/t gold at the Two Mile Hill deposit, providing further confidence of deepening of the optimum open pit and, therefore, the associated gold processing inventory.

Drilling at the southern extremity of the Twin Shafts deposit identified a modest grade mineralised extension that will still be estimated and included as a maiden Mineral Resource for assessment in Sandstone’s feasibility study update.

Middle Island noted that the proximity of the Twin Shafts mineralised extension to the existing in-pit tailings storage facility means that mining may expand the tailings capacity and waste generated by that mining may be used for a planned tailings dam lift and/or expansion, providing an economic benefit in addition to potential mill feed.

Results relating to the remaining 44 holes of the Phase 1 RC drilling program are anticipated to be compiled and released next week.

These results relate to Sandstone’s Shillington and Goat Farm deposits, the Ridge prospect, and the G2 & G3 gravity targets.

“Given the extraordinary success of the 2020 Sandstone drilling campaign to date, identifying a fifth new deposit was always going to be a stretch,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“Despite the anticipation, we are unable to do so on this occasion, but Phase 1 RC drilling results from the remaining deposits and prospects are still being received and compiled.

“Despite this, the revised intercept of 22 metres at 1.42 grams per tonne gold in MSRC304 at Two Mile Hill is extremely encouraging, particularly given its disposition relative to the $2,500 per ounce optimum pit shell.

“While extension of the Twin Shafts deposit to the south is of limited superficial significance, Twin Shafts is not included in the existing Mineral Resources and it will be estimated as part of the updated study.

“The mineralised extension’s proximity to the existing tailings storage facility means that mining may expand the tailings capacity and waste generated by mining may be appropriate to use for a planned tails dam lift and/or expansion, providing an economic benefit in addition to potential mill feed.”

Middle Island recently reported a $4 million capital raising that was brough about by the success of the company’s recent drilling campaign that identified four new deposits.

Requiring a much-expanded Phase 2 RC drilling program in order to bring these new deposits into an Indicated Mineral Resource classification for consideration as Ore Reserves in the updated feasibility study, Middle Island is set to commence a Phase 2 RC program by engaging an additional drill rig.

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Middle Island Resources Raises $4M to Continue Advancement of Sandstone

THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) has received firm commitments to raise $4 million to conduct the next phase of exploration and resource drilling at the company’s 100 per cent- owned Sandstone gold project in Western Australia.

The raising comes on the back of Middle Island Resources’ 2020 Phase 1 RC drilling program, which identified four new gold deposits all located within 2.5 kilometres of the company’s 100 per cent-owned 600,000 tonnes per annum Sandstone gold processing plant.

McLaren: including drilling results of 4m at 90.6 grams per tonne gold and 8m at 3.35g/t gold.

McIntyre: including drilling results of 24m at 1.66g/t gold, 23m at 1.4g/t gold, 11m at 1.39g/t gold and 18m at 1.35g/t gold.

Old Town Well: including drilling results of 20m at 0.87g/t gold, 8m at 2.17g/t gold and 8m at 1.45g/t gold.

Plum Pudding: including drilling results of 11m at 22.5g/t gold, 17m at 8.16g/t gold, 12m at 3.52g/t gold, 8m at 6.98g/t gold, and new intercepts of 3m at 3.72g/t gold, 10m at 3.08g/t gold and 2m at 4.98g/t gold.

“Given the extraordinary success of the 2020 drilling campaign to date, proceeds of the equity raising will allow the company to embark on a, necessarily substantially expanded, Phase 2 drilling campaign of at least 13,000 metres of RC and diamond drilling to infill and extend new, supplementary deposits identified at the Sandstone gold project and complete the project’s pre-feasibility study,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

Middle Island indicated the he proceeds from the placement and existing cash reserves will be used to undertake the next phase of exploration and resource drilling at the Sandstone gold project and feasibility study.

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Middle Island Resources Claims Fourth Sandstone Gold Discovery

THE DRILL SERGEANT: Middle Island Resources has claimed discovery of a fourth new god deposit at the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Middle Island Resources declared the Plum Pudding deposit has been defined from Phase 1 reverse circulation (RC) drilling, conducted 850m south of the gold processing plant.

Highlighted intercepts from the recent RC drilling at the Plum Pudding deposit include:

MSRC420
3 metres at 3.72 grams per tonne gold from 29m, 10m at 3.08g/t gold from 41m, and 3m at 3.72g/t gold from 29m; and

MSRC421
2m at 4.98g/t gold from 33m, 2m at 4.98g/t gold from 33m, and 12m at 0.93g/t gold from 39m.

“Centred on a high-grade mineralised core defined by previous drilling, Phase 1 RC drilling at the Plum Pudding deposit has extended mineralisation over a 240 metres strike length to the south,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“Subject to infill and verification RC and diamond drilling, Plum Pudding is likely to represent a further new, shallow, oxide gold deposit that will be assessed as part of the updated pre-feasibility study (PFS), particularly as it is situated only 850 metres south of the company’s 100 per cent-owned, 600,000 tonnes per annum processing plant, within granted Mining Lease M57/129.

“The Directors look forward to sharing the final Phase 1 RC drilling results with you as they are received and compiled.

“The results of this program to date and the strong prevailing gold price significantly heighten the prospects of a positive mill recommissioning decision.”

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Middle Island Claims Third New Sandstone Gold Discovery

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) announced a third gold discovery in as many weeks at the company’s 100 per cent-owned Sandstone gold project in the central goldfields of Western Australia.

Middle Island Resources made the third gold discovery – the Old Town Well deposit – during a recently completed Phase 1, reverse circulation (RC) drilling program that is one of four planned programs that collectively comprise a campaign totalling 17,300m of exploration and resource definition drilling at the Sandstone gold project.

The Phase 1 RC program, exclusively focussed on open pit targets at Sandstone, testing some 14 gold deposits and prospects, all located within four kilometres of the company’s gold processing plant with the majority on existing Mining Leases.

Old Town Well deposit comprises broad, consistent, shallow drill intercepts over a 60m aggregate width and 340m strike length.

Latest drilling results include:

20 metres at 0.87 grams per tonne gold;
8m at 2.17g/t gold; and
8m at 1.45g/t gold.

Middle Island believes Old Town Well is likely to represent a substantial oxide gold deposit, the majority of which is relatively shallow, including a blanket of mineralised laterite from surface.

“The broad gold intercepts returned from Phase 1 RC drilling at the Old Town Well prospect are likely to represent a substantial tonnage, the majority of which is shallow oxide material,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“Subject to one metre resampling, and infill RC and diamond drilling, the deposit will be assessed as part of the updated prefeasibility study (PFS), as it is situated only 600 metres north of the company’s 100 per cent-owned, 600,000 tonnes per annum processing plant, within granted Mining Lease M57/128.

“High hydrothermal fluid flows are clearly evident at the Old Town Well prospect and it is possible that the quartz veining and intense alteration observed in drilling to date is peripheral to far more significant gold mineralisation along strike or down dip/plunge.

“Given early success with two new gold discoveries at McClaren and McIntyre, announced in the preceding two weeks, I have received multiple enquiries on whether the various prospects and deposits were prioritised for drilling in any particular order.

“Two drill rigs were engaged to complete the Phase 1 program.

“Other than the rigs being allocated to specific prospects that best matched their respective capabilities and capacities, the order of drilling was predicated solely on efficiency, to minimise the tramming distance (and thereby chargeable work time) between the various deposits and prospects.

“At this stage, the results of this program, coupled with the resource upgrade announced last week and the strong prevailing gold price, significantly heighten the prospects of a positive mill recommissioning decision.”

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

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

Web: www.middleisland.com.au

 

Middle Island Complements Sandstone Resource Increase With Bonanza Drill Intercept

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) announced a new Mineral Resource for the Two Mile Hill deeps deposit within the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Middle Island Resources declared a 500,000 ounces of gold Inferred Mineral Resource, which had been estimated by independent consultants, Mining Plus Pty Ltd, for the Two Mile Hill deeps gold deposit.

The company explained the new Mineral Resource is comprised of 480,000 ounces of gold associated with the tonalite-hosted portion of the deposit and 20,000 ounces of gold within the banded iron formation (BIF)-hosted element.

The addition of the Two Mile Hill deeps underground deposit brings the aggregate Sandstone project’s JORC Code 2012 Mineral Resources to 624,000 ounces of gold, representing a near five-fold increase in Mineral Resources that the company expects will expand once its current drilling campaign is complete.

“The addition of 500,000 ounces of formal Mineral Resources to the Sandstone project inventory is an extremely pleasing outcome that allows a far greater degree of transparency in valuing both the Sandstone gold project and the company,” Middle Island Resources managing director Rick Yeates said in the company’s announcement to the Australian Securities Exchange.

“What is also pleasing is that, in the grade modelling applied by Mining Plus in resource estimation of the tonalite deeps deposit, the grade shells and distribution of gold mineralisation closely mirror MDI’s observations in logging the diamond core.

“Equally, Mining Plus’s application of contemporary mining and processing parameters and costs to confirm the deposit as a formal Mineral Resource, affirms the company’s view that this substantial deposit will ultimately provide a significant complement to our planned on-site gold production profile.

“The lower 200 metres (from 500m to 700m depth) of the prior Exploration Target also remains to be confirmed as a Mineral Resource via additional diamond drilling at a later date.

“The current aggressive exploration and resource definition campaign, collectively comprising some 17,300 metres of drilling, is now well advanced and there is a high likelihood that this campaign will significantly add to or upgrade additional open pit Mineral Resources prior to completing the updated pre-feasibility study.”

Middle Island also released drilling results that included a mouth-watering intercept of:

4 metres at 90.6 grams per tonne gold.

This was accompanied by a further intercept of:

8m at 3.35g/t gold.

The company reported both results from new and initial assay results achieved at the McClaren prospect, which comprises part of a recently completed Phase 1 RC drilling program at Sandstone.

Middle Island considers that, subject to resampling and infill drilling, there is a likelihood McClaren will prove to represent a new open pit deposit to complement the project’s mill recommissioning inventory.

McClaren is one of a cluster of three proximal gold prospects, also including McIntyre and Ridge, all of which are hosted within the southeast extension of the Shillington banded iron formation (BIF) package close to the company’s Sandstone gold processing plant.

“The bonanza grade intercept of 4 metres at 90.6 grams per tonne (almost 3oz/t) is an exciting early outcome from the Phase 1 RC drilling results at McClaren,” Yeates said.

“However, it is as much to do with the now apparent continuity of mineralisation in this and surrounding holes, that, subject to resampling and infill drilling, suggests the McClaren prospect may well prove to represent an additional new open pit deposit to supplement the planned recommissioning inventory.

“We eagerly await drilling results for the nearby McIntyre and Ridge prospects, and the current geological mapping, which may provide evidence that mineralisation associated with all three prospects may be linked.

“It is worth noting that McClaren and the adjacent two prospects all lie within granted Mining Lease M57/129 and only 2.5 kilometres from the company’s 100 per cent-owned, 600,000 tonnes per annum gold processing plant.

“I am equally encouraged by the initial drill intercepts within basalts in the northeast quadrant of the Two Mile Hill open pit deposit, which have the potential to extend and/or upgrade Sandstone’s existing Mineral Resources.

“Open pit optimisation studies indicate this quadrant of the deposit is very sensitive to Mineral Resource upgrades and/or additions within the basalt, potentially deepening the entire open pit by at least 20 metres, and possibly as much as 40 metres, thereby significantly increasing the overall open pit inventory.”

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

Middle Island Resources Defines New Gold Target at Sandstone

THE DRILL SERGEANT: Middle Island Resources (ASX: MDI) recently completed interface (palaeo-surface) aircore geochemical drilling at the company’s Sandstone gold project in central Western Australia.

Middle Island informed that the drilling had confirmed the Tailings South gold target, situated just 800 metres from its 100 per cent-owned Sandstone gold processing plant.

The Tailings South target was one of five targets tested or refined as part of an aircore drilling program completed in January 2020.

The Tailings South gold anomaly was identified beneath eight to 15m of transported cover, and comprises a 600m-long eastern element and a 300m-long western element, both of which are north trending, consistent with the interpreted major structural orientation.

Middle Island has interpreted the anomaly to be associated with a series of folded banded iron formations (BIFs) dislocated by faulting.

Tailings South will be the last prospect to be tested as part of the company’s current 12,300m Phase I reverse circulation (RC) drilling program, of which around 11,000m has been completed with all assay results pending.

“Once all Phase I RC results have been received and compiled, a planned Phase II RC drilling program, comprising a notional 3,000 metres, will be undertaken to infill and upgrade any Inferred Mineral Resources identified by the Phase I work to an Indicated Mineral Resource classification,” Middle Island Resources said inits ASX announcement.

“This will be undertaken simultaneously with a notional 800 metres of oxide diamond coring of new deposits to provide additional bulk density data, along with material for further metallurgical, geotechnical and waste classification testing, where required.”

“Additional Mineral Resources derived from the entire planned 17,900 metres drilling campaign will be applied to the pre-feasibility study (PFS), which is in the process of being updated.

“The PFS update is planned to be completed in mid-2020, informing any subsequent Sandstone gold project recommissioning decision.”

Middle Island explained the outcome of the updated PFS will inform a Sandstone gold project recommissioning decision, the timeframe for which is estimated to be five months.

The company has an aggressive and systematic Sandstone 2020 exploration and gold development program planned set against a background of record gold prices and considerable local M&A activity, with recent takeover offers made for Spectrum Metals and Alto Metals at notable premiums.

 

Email: info@middleisland.com.au

Web: www.middleisland.com.au

 

THE DAILY ROADHOUSE 18/2/20

 

Middle Island Resources Grabs More Barkly IOCG Ground

THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) has been allocated between 19 per cent and 95 per cent of each of four competing exploration licence applications, located within the newly available IOCG-prospective former Barkly moratorium area of the Northern Territory.

Bellevue Gold Drilling Results to Contribute to Resources Update

THE DRILL SERGEANT: Bellevue Gold (ASX; BGL) released the latest high-grade infill drill results that are expected to further underpin a maiden Indicated Resource at the company’s Bellevue gold project in Western Australia.

Antipa Minerals and Rio Tinto JV Identifies New Targets at Citadel

THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) is advancing its exploration activities at the company’s Citadel project in the Paterson Province of Western Australia.

Alicanto Minerals Intersects Wide Zones of Swedish Mineralisation

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has hit more than 60 metres of strong alteration and disseminated sulphides including chalcopyrite and pyrite with the first diamond core drill hole of a maiden multi-hole drill program at the company’s 100 per cent-owned Wolf Mountain project in Sweden.