Middle Island Resources Limited (ASX: MDI) has reported further significant gold results from the company’s Phase 2 reverse circulation (RC) drilling campaign at the 100%-owned Sandstone gold project in the central goldfields of Western Australia.
The latest drilling success has come from a further 44 holes (2,179m) completed at the Old Town Well (OTW) deposit as part of the Phase 2 RC drilling campaign.
The Old Town Well deposit is located 600m north of the Company’s 100%-owned gold processing plant, within granted Mining Lease M57/128. The satellite deposit represents a larger, but modest grade, low stripping ratio, oxide open pit gold deposit that is likely to contribute towards a positive feasibility study outcome.
Better Phase 2 infill and extension RC drill intercepts from the Old Town Well deposit include: 14m @ 2.22g/t Au from 15m; 3m @ 20.6g/t Au from 16m; 6m @ 3.23g/t Au from 40m; 14m @ 1.00g/t Au from 23m; 8m @ 1.80g/t Au from 26m.
Middle Island has to completed more than 37,000m of drilling in Phase 1 and Phase 2 to date in 2020, extending several existing Sandstone deposits and identifying five new satellite deposits in the process.
The on-going Phase 2 RC and diamond drilling programmes are exclusively focussed on infilling and extending the five new satellite deposits, McClaren, McIntyre, Ridge, Old Town Well and Plum Pudding, identified by the Phase 1 RC drilling campaign in the first half of CY2020.
All new satellite deposits are located on existing Mining Leases within 2.5km of the company’s 100%-owned gold processing plant.
The Phase 2 drilling campaign is designed to infill and extend the five new satellite open pit deposits to an Indicated Mineral Resource classification.
This work will be followed by reconnaissance RC drill traverses across the 1.1km-long Shillington Gap target, interpreted from high resolution airborne magnetic data to lie beneath shallow transported cover between the Shillington and Ridge gold deposits.