Middle Island Reports New Assays from Old Town Well Deposit, Stock Surges ~4.35%

Middle Island Resources Limited (ASX:MDI) has announced new assay results from Old Town Well deposit as part of its Phase 2 RC (reverse circulation) drilling campaign ongoing at Sandstone project.

Following the update, MDI stock is trading ~4.35 per cent higher at $0.024 as at 11:49 AM AEST.

The new results include consistent, broad, shallow drill intercepts over a 340m strike length and 60m aggregate width. These Phase 2 RC intercepts at Old Town Well comprise:

  • 14m @ 1.00g/t Au
  • 14m @ 2.22g/t Au
  • 8m @ 1.80g/t Au
  • 6m @ 3.23g/t Au
  • 3m @ 20.6g/t Au

The Old Town Well satellite deposit will now be evaluated as part of Sandstone’s current feasibility study (FS).

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