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Middle Island Resources Ltd.
Summary
| Project: | Sandstone | |
|---|---|---|
| Deposit: | Shillington, Two Mile Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/14/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 14-12-2016: Middle Island Resources Ltd. announces a Resource Estimation report for its Shillington, Two Mile Hill deposit at the Sandstone project. Updated mineral resource estimate for the project. Middle Island Resources Limited (ASX: MDI, Middle Islan | |
| Resources: | (Resource, Total): 2.414Mt @ 1.31g/t Au for 102Koz Au contained at project | |
| CP/QP: | [Resources]: Brett Gossage (EGRM Consulting Pty. Ltd.) | |
| ABSTRACT: | Middle Island Resources Limited (ASX: MDI, Middle Island, the Company) advises that updated Mineral Resource estimates, consistent with the 2012 JORC Code guidelines, have been completed for the Shillington, Shillington North (in a combined Shillington model) and Two Mile Hill open pit deposits within the Company’s Sandstone gold project in Western Australia. The updated Mineral Resource estimates are to a maximum depth of approximately 140m below surface (380mRL). These three specific deposits, targeted by Middle Island post its acquisition of the project, will be applied to the pre-feasibility study (PFS). As such, the new Mineral Resource expressly excludes remaining deposits and deeper mineralisation at Two Mile Hill comprising the aggregate 480,000oz resource previously estimated and reported under the 2004 JORC Code guidelines. Following the completion of infill reverse circulation percussion (RC) drilling, resource estimation of the Shillington and Two Mile Hill open pit deposits was undertaken by independent consulting firm, EGRM Pty Ltd. The estimate is based on RC and diamond drilling variously undertaken by Sundowner Minerals NL, Herald Resources Limited, Troy Resources NL and Middle Island Resources Limited. Modelling and reconciliation of the relevant geology, weathering, oxidation and alteration was undertaken by MDI personnel, while modelling of the tonnage, grade and bulk density was undertaken by EGRM Consulting Pty Ltd. The lithological constraints and weathering surfaces modelled by MDI technical staff were applied, after review and minor adjustment, to the grade estimation studies. The modelled lithology includes tonalite and basalt interpretations at Two Mile Hill, and banded iron formation (BIF) and basalt at Shillington. Superimposed weathering surfaces modelled comprise the base of laterite, base of mottled/pallid zone, base of complete weathering and base of slightly weathered. | |
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