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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Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)