Gold player, Middle Island Resources Limited (ASX:MDI) has released Quarterly Report for the period ended 31st March 2020, during which the Company reported significant progress at its flagship Sandstone project. Below are the key operational highlights for the quarter:
- Completed two of the four planned programs in massive ~17,300m drilling campaign.
- Identified three new open pit deposits from RC drilling.
- Estimated Inferred Mineral Resource for the gold deposit - Two Mile Hill deeps.
In addition to these developments at Sandstone, the Company was allocated portions of a further four competing exploration licence applications within Barkly super project.
The Company had aggregate cash and investments of $2.28 million as at 31st March 2020.
MDI is trading at $0.013, up by 8.3 per cent, as at 11:51 AM AEST on 29th April 2020.
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