In a latest update, Middle Island Resources Limited (ASX:MDI) has notified over the completion of updated resource estimates for the Shillington (comprising Shillington North) and Wirraminna gold deposits within Sandstone project.
Below are the key outcomes of updated resource estimates:
- A 52 per cent or 27,800oz rise in the gold resource to 80,700oz has been derived for the Shillington deposit.
- Indicated Mineral Resource at Shillington deposit has increased by 17 per cent or 7,200oz.
- Sandstone’s total project Mineral Resources have risen to 650,500oz gold.
- Re-estimation of the Wirraminna deposit led to minimal change at 21,800oz gold.
Both Shillington and Wirraminna deposits will now be re-optimised to ascertain the in-pit Mineral Resources expected to contribute to the feasibility study.
MDI is trading at $0.023 as at 11:42 AM AEST.
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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)