Middle Island Reports Significant Assays from McIntyre Deposit, Stock Soars ~9%

July 29, 2020 12:34 PM AEST
Team Kalkine

Middle Island Resources Limited (ASX:MDI) has revealed further significant gold results from its Phase 2 reverse circulation (RC) drilling campaign continuing at Sandstone gold project. The Company has announced new Phase 2 RC intercepts from McIntyre deposit, which include:

26m @ 1.38g/t Au
24m @ 1.95g/t Au
23m @ 2.08g/t Au
18m @ 1.36g/t Au
18m @ 2.47g/t Au
17m @ 1.20g/t Au
14m @ 2.22g/t Au
13m @ 1.94g/t Au
9m @ 3.53g/t Au

The Company is likely to announce assay results for the remaining four new satellite deposits in the coming weeks.

Following the key update, the stock is trading ~9 per cent higher at $0.024 as at 11:41 AM AEST (on 29 July 2020).

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