In a considerable development, Middle Island Resources Limited (ASX:MDI) has reported the identification of a new gold deposit at the McIntyre prospect within the Sandstone project. This is the second new Sandstone gold deposit announced by the Company.
Additionally, the Company informed:
- New deposit is defined by new, consistent, shallow drill intercepts including 24m at 1.66g/t, 23m at 1.40g/t, 11m at 1.39g/t and 18m at 1.35g/t Au
- New results have been derived from a further 12 holes of the 13,400m Phase 1 RC drilling program.
- There is a high likelihood that the McIntyre prospect will further complement the project’s mill recommissioning inventory.
MDI is trading ~17 per cent higher on the ASX at $0.014, as at 12:00 PM AEST on 21st April 2020.