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.
Disclaimer
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.
