Middle Island Announces Third New Gold Discovery at Sandstone

  • Apr 28, 2020 AEST
  • Team Kalkine

Gold explorer Middle Island Resources Limited (ASX:MDI) has reported third new gold deposit, “Old Town Well” from its Phase 1 reverse circulation (RC) drilling undertaken at Sandstone gold project.

In addition, the Company notified that the new gold deposit:

  • adds to similar gold discoveries announced this month at McIntyre and McClaren prospects
  • comprises consistent, shallow, broad drill intercepts
  • may represent a substantial oxide gold deposit
  • will be assessed as part of Sandstone’s updated prefeasibility study

Post the key update, MDI’s stock inched ~7.7 per cent higher, trading at $0.014 as at 12:13 PM AEST on 28th April 2020.


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