New Resources Take Sandstone To 692,000oz Gold
Middle Island Resources Limited (ASX:MDI) has prepared maiden Mineral Resource estimates for its Plum Pudding and Old Town Well satellite gold deposits within in Sandstone Gold Project in Western Australia .
The maiden estimates follow completion of the Phase 2 infill and extension drilling programme, representing part of the 50,000m 2020 exploration and resource definition drilling campaign at the company’s wholly-owned Sandstone gold project.
The drilling is exclusively focussed on the definition of additional open pit Mineral Resources prior to their inclusion for assessment as Ore Reserves in the 2020 feasibility study (FS).
Managing Director, Rick Yeates, said the maiden Mineral Resources for Sandstone’s new Plum Pudding and Old Town Well satellite open pit deposits add a further 24,200oz of gold to the advanced central WA project.
Mr Yeates said that over 90% of the new resource is classified in the Indicated category, and their addition takes Sandstone’s current Mineral Resource total to 692,000oz gold.
Plum Pudding and Old Town Well represent the first two of five new satellite open pit deposits quantified by Middle Island’s 50,000m drilling campaign in 2020.
Mr Yeates said the two deposits will now be optimised to determine the in-pit Mineral Resources likely to contribute to Ore Reserves in Sandstone’s current feasibility study.
“Mineral Resources comprising the Plum Pudding and Old Town Well open pit satellite deposits increase total Sandstone project Mineral Resources to 692,000oz gold and will make a meaningful contribution to the current feasibility study. The deposits will now be optimised and mine designs prepared to determine Ore Reserves likely to contribute to the FS,” Mr Yeates said.
“Pending receipt of final resource definition samples backlogged in the assay laboratory, we look forward to finalising the remaining deposit estimates, being extensions to Goat Farm and Twin Shafts, and maiden estimates for the new Ridge, McClaren and McIntyre satellite deposits.”
