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Middle Island Resources Ltd.
Summary
| Project: | Sandstone | |
|---|---|---|
| Deposit: | Two Mile Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-2-2017: Middle Island Resources Ltd. announces an Exploration/Drilling Update report for its Two Mile Hill deposit at the Sandstone project. Resampling of composite interval - results incl. 1m @ 161g/t Au. The primary objective of Middle Island’s curre | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Rick Yeates (Internal) | |
| ABSTRACT: | The primary objective of Middle Island’s current strategy to achieve maiden gold production is to recommission the Sandstone gold operation at the earliest opportunity. The initial priority is to identify near-term, higher grade resources that can be incorporated into the front end of the production schedule. This strategy is being progressed via a multi-faceted approach in order to increase the likelihood of success. Resampling of the composite interval of 4m at 17.6g/t Au (duplicate of 4m at 21.6g/t Au), generated during sterilisation RC drilling of the planned Two Mile Hill waste dump extension returned an intercept of 1m at 161g/t Au from a down-hole depth of 48m. Mineralisation is associated with a folded chert horizon within basalts to the northwest of the Two Mile Hill deposit at the Turley Prospect that will be the subject of planned infill RC drilling to commence shortly. Although unexpected, the result is indicative of the prolific nature of high grade gold mineralisation encountered throughout the Sandstone Project. Resource update in progress on the deeper Two Mile Hill mineralisation and adjacent high grade, BIF-hosted deposit, prior to commencing an underground mining concept study. New targeting study generates multiple priority exploration targets, with two stand-out targets identified to the southwest of the processing plant and southeast of the Shillington deposit. | |
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