$69 postpage LB

Middle Island Announces Fourth New Gold Deposit at Sandstone; Stock Soars ~17%

  • May 08, 2020 12:22 PM AEST
  • Team Kalkine

In a latest development, gold explorer Middle Island Resources Limited (ASX:MDI) has reported a fourth new gold deposit at its flagship Sandstone project, the Plum Pudding. The deposit has been defined from the recently completed Phase 1 reverse circulation (RC) drilling program.

The Company announced the following information related to the new deposit:

  • Situated 850m south of the gold processing plant.
  • Extended south of previous drilling results of 17m at 8.16g/t, 11m at 22.5g/t, 12m at 3.52g/t and 8m at 6.98g/t Au.
  • Southern extension includes new intercepts of 3m at 3.72g/t, 10m at 3.08g/t, 2m at 4.98g/t, 3m at 3.72g/t, 2m at 4.98g/t and 12m at 0.93g/t Au.
  • Likely to represent a further new, shallow, oxide open pit gold deposit, including a blanket of mineralised laterite from surface.

Following the key update, MDI stock is trading ~17 per cent higher at $0.014 as at 11:39 AM AEST on 8th May 2020.

Gold MTF non-AMP

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK