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Middle Island Resources Ltd.
Summary
| Project: | Sandstone | |
|---|---|---|
| Deposit: | Sandstone | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-11-2017: Middle Island Resources Ltd. announces a Resource Estimation report for its Sandstone deposit at the Sandstone project. Exploration target range, 24Mt to 34Mt @ 1.1g/t to 1.4g/t Au for 0.9Moz to 1.5Moz at Sandstone. An Exploration Target of 24 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Rick Yeates (Internal) | |
| ABSTRACT: | An Exploration Target of 24Mt to 34Mt at 1.1g/t to 1.4g/t Au has been estimated for the Two Mile Hill tonalite deeps deposit, representing between 0.9Moz and 1.5Moz of contained gold. The estimate extends from the base of the previously estimated open pit resource at 140m vertical depth down to 700m, below which depth the mineralised tonalite plug remains open. The previously estimated Indicated and Inferred Mineral Resource above 140m depth at Two Mile Hill comprises a further 1.13Mt at 1.33g/t Au for 48,000oz gold (refer ASX Release of 14 December 2016). The Exploration Target is derived from 18 diamond holes drilled on a notional 40m section spacing, comprising 2,897m drilled within the tonalite and 3,052 gold assays. Gold assays are based on maximum 1m sample intervals of half NQ diamond core and analysed via 50g fire assay by recognised, independent and internationally certified assay laboratories. The Exploration Target comprises a lower volume estimate that is reasonably conservatively based on the modelled surface and drilled dimensions of the tonalite plug, projected to 700m depth. The upper volume estimate is based on the gravity inversion modelling that indicates the tonalite plug bells-out at depth in the northeast quadrant, where it is poorly constrained by drilling. As such, a 40% increase in the plan area of the plug has been modelled in at 700m depth to derive the upper estimate of mineralised volume. Some 114 bulk density determinations, which consistently approximate 2.7t/m3 , have been applied to both the upper and lower volume estimates to derive a tonnage range from 24Mt to 34Mt. The lower end of the grade range (1.1g/t Au) represents the average of all gold grades captured within the tonalite wireframe between 140m and 700m vertical depth, somewhat biased by the more densely drilled, but generally lower gold grades, encountered to approximately 200m depth. The upper end of the grade range (1.4g/t Au) reflects the average grade of hole MSDD156, which provides the only intersection down the axis of the tonalite plug, normal to the dominant quartz vein orientation, to in excess of 700m depth. Within the Exploration Target, broader, sub-horizontal zones of higher grade mineralisation traverse the tonalite plug, including approximate true width intercepts of 22m at 5.95g/t, 37m at 4.46g/t, 50m at 2.71g/t, 13m at 6.39g/t and 11m at 6.89g/t Au. | |
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