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Middle Island Resources Ltd.
Summary
| Project: | Sandstone | |
|---|---|---|
| Deposit: | Two Mile Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-8-2018: Middle Island Resources Ltd. announces an Exploration/Drilling Update report for its Two Mile Hill deposit at the Sandstone project. Drilling results incl. 8m @ 14.5g/t Au from 334m. Aspiring gold developer, Middle Island Resources Limited (Midd | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Rick Yeates (Internal) | |
| ABSTRACT: | Aspiring gold developer, Middle Island Resources Limited (Middle Island, MDI or the Company) is pleased to advise that complete assay results have been received for the first diamond hole of the recently completed, Stage 1, resource definition drilling programme at the Two Mile Hill deposit within the Company’s wholly-owned Sandstone gold project in WA (Figure 1). The Two Mile Hill tonalite deeps deposit comprises a ubiquitously gold mineralised, tonalite (granite) plug or stock, which at surface measures 250m in length, 80-90m width and extends to at least 700m depth. The deposit is located 4km north of the Company’s 600,000tpa Sandstone gold processing plant via an existing haul road. The deposit currently comprises an Exploration Target of 24Mt to 34Mt at 1.1g/t to 1.4g/t Au (0.9M-1.5Moz of gold - refer ASX Release 29 November 2017) situated between 140m and 700m vertical depth, below which it remains open. The potential quantity and grade of an Exploration Target is conceptual in nature, as there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The recently completed programme comprised in-fill, RC pre-collared, NQ diamond drilling (MSDD262- 268) focussed on the upper half of the Two Mile Hill tonalite deeps deposit, between 140m and 420m vertical depth (Table 1 and Figure 2). The latter holes were primarily designed to infill the existing drilling within the tonalite, in the process optimising the number of intersections on the adjacent banded iron formation (BIF) units, intruded by the tonalite, which are known to host high grade, pyrite replacementstyle gold mineralisation | |
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