$69 postpage LB

Middle Island Announces Discovery of Another New Gold Deposit at Sandstone, Stock Soars ~17%

  • April 21, 2020 12:13 PM AEST
  • Team Kalkine

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.

Gold MTF non-AMP

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.

 


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