Middle Island Resources Limited (ASX: MDI) has unveiled a maiden Mineral Resource estimate for its McIntyre satellite open pit gold deposit within the Sandstone Gold Project in Western Australia.
Along with updated open pit estimates for the existing Twin Shafts and Goat Farm deposits, Sandstone’s new global Mineral Resources estimate is 732,000 ounces.
The maiden Mineral Resource for the new McIntyre satellite open pit deposit, and updated estimates for the existing Twin Shafts and Goat Farm deposits, collectively add a further 40,100oz of gold to Sandstone’s numbers.
The estimates follow completion of the Phase 2 infill and extension drilling program, representing part of the 50,000m 2020 exploration and resource definition drilling campaign at Sandstone gold project in the central goldfields of Western Australia.
Managing Director, Rick Yeates, said the drilling was 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.
The McIntyre and Twin Shafts deposits will now be optimised and mine designs prepared to determine Ore Reserves likely to contribute to the feasibility study,” Mr Yeates said.
“The lower strip ratio anticipated at the McIntyre satellite deposit suggests it may be scheduled for mining and processing earlier in the mine life, making a very valuable contribution to the project.
“Mining of the Twin Shafts southern extension will provide for greater tailings capacity within the existing in-pit licenced storage facility, while a cut-back of the existing Goat Farm open pit will provide for a larger capacity in-pit tailings storage option, beyond the initial open pit production scenario, should it be required.
“Final resource definition samples for the Ridge and McClaren deposits have now been received from the assay laboratory.
“We look forward to compiling and announcing these results shortly, prior to finalising Mineral Resource estimates for these two remaining satellite deposits.”
