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

  • May 08, 2020 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.

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are 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. All pictures are copyright to their respective owner(s). Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from 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.

 

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.

CLICK HERE FOR YOUR FREE REPORT!
   
x
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