News Articles for Middle Island Resources

Middle Island Resources has completed a re-optimisation mining study at its Sandstone gold project in WA and with elevated gold prices and new pit wall parameters improving on the 2016 PFS results, the updated work now captures 75% of the global mineral resources in proposed pits. The company is also looking to recommission the Sandstone plant on a standalone basis after studies confirmed it could be refurbished over 16 weeks for only $10.3m.

Middle Island Resources has strongly reaffirmed its plan to consolidate the neighbouring gold holdings in the Sandstone region of WA, by releasing an updated Supplementary Bidder's Statement for its all-scrip, off-market takeover of Alto Metals that it launched during the June quarter. In doing so, it has also agreed to publicly waive a condition breach related to a shortfall of securities issued by Alto earlier this year.

Middle Island Resources is selling its Reo gold project in Burkina Faso, West Africa, to Tajiri Resources Corporation after the Vancouver-based company exercised its option to acquire the project. Tajiri has paid the company a final USD$150,000 option extension and exercise fee and will pay Middle Island USD$335,000 in cash and 5 million Tajiri shares, representing an 8% stake in Tajiri, for the project.

Middle Island Resources has increased its all-scrip takeover offer for fellow ASX-listed gold player Alto Metals to six of its shares for every Alto ordinary share. Alto has global mineral resources totalling 5.4 million tonnes grading 1.7g/t gold for 290,000 ounces of gold at its Sandstone project in WA, whilst Middle Island currently has a JORC mineral resource of 125,300 ounces of gold.

Middle Island Resources says a defeating condition of a takeover offer made for fellow Western Australian gold junior Alto Metals has been triggered, after alleging shortfall shares were issued contrary to the terms of a prospectus.

Middle Island Resources has identified new targets at the southern end of its Sandstone gold project in WA, which the gold explorer says indicates the area could host the densest clustering of gold deposits within the entire Sandstone greenstone belt. The targets lie within 2.5km of the company's gold processing plant and significantly enhances the potential to contribute to a mill recommissioning decision.

Middle Island Resources has launched a formal takeover bid for Alto Metals, offering five of its shares for every Alto share, which could amalgamate the parties' substantial Sandstone gold assets in WA. The addition of Alto's gold resources could provide initial mill feed and critical mass to a combined entity with synergies that may potentially benefit the shareholders of both companies.

Middle Island Resources has announced a takeover offer for Alto Metals, proposing an all-scrip off-market consideration of five of the company's shares for every Alto share, which could consolidate the parties' Sandstone gold assets in WA. The addition of Alto's gold resources could provide initial mill feed and critical mass to a combined entity with synergies that may potentially benefit shareholders of both companies.

Middle Island Resources has made a $9.4 million all-scrip takeover offer for fellow Western Australia-based gold junior Alto Metals.

Threat Protect Australia is pleased to announce that it has recently completed a capital raising of $1.0m through a placement of 4,761,905 fully paid ordinary shares in the Company at an issue pric

Middle Island Resources pocketed $1.4m last week from an entitlements offer to shareholders that closed well over-subscribed in a challenging market. The funds were raised primarily for key exploration and development activities at the company's Sandstone gold Project in WA's Murchison region. This will include completing work on the flagship Two Mile Hill tonalite deeps deposit and diamond drilling three intriguing lookalike gravity targets nearby.

Middle Island Resources has been awarded a $150,000 grant from the WA Government, which will assist in funding an exploratory diamond drilling program on three geophysical gravity targets at its Sandstone gold project in WA. The discrete gravity lows are interpreted to be similar to, and located within a 1km radius of the major Two Mile Hill tonalite deposit, which is a large, low grade, gold-mineralised ore system.

Middle Island Resources is keeping the momentum going at its Sandstone gold project in WA with a slew of holes to be drilled at greenfield targets during the first half of 2019. The program is aimed at identifying and quantifying additional open pit deposits of sufficient scale and grade to facilitate a recommissioning of the historic gold operation.

Middle Island Resources has reported some solid assay results from an infill and extensional resource development drill program at its Wirraminna gold deposit near Sandstone in WA. Best results include 6m @ 6.62g/t from 84m down-hole and 14m @ 1.82g/t from 82m down-hole. The new results will be used to update the company's existing mineral resource estimate of 550,000 tonnes grading 1.32g/t gold for 23,000 ounces.

Middle Island Resources has returned some serious diamond drilling results going nearly 2 ounces to the tonne gold near Sandstone. Higher grade results were returned from BIF and basalt units, including 2m @ 54g/t from 340m down-hole and 93m @ 2.57g/t from surface respectively. The target tonalite intrusion returned thick lower grade results including 165m @ 1.11g/t gold from 85m down-hole at the Two Mile Hill deeps deposit.

ASX explorer Middle Island Resources' diamond drilling campaign at the Two Mile Hill gold deposit in Western Australia has had a fantastic start with the first hole intersecting 8m @ 14.5g/t gold in the a banded iron formation. This style of mineralisation adds to the more substantial, but lower grade, adjacent tonalite-hosted style mineralisation in the deposit.

Middle Island Resources has confirmed grade increases of between 155% and 213% from ore sorting test work at its Two Mile Hill underground gold deposit near Sandstone. The ore sorting results are a precursor to an updated mineral resource estimate which is expected this year. The sorting process uses a combination of colour and X-ray sensors to increase the ore grade by rejecting more than 50% of the waste.

Middle Island Resources has reported that ore sorting trials to upgrade gold mineralisation at its flagship Two Mile Hill underground deposit will be completed this month. Preliminary test work has proved highly successful in pre-concentrating ores via optical sorting methods. Resource definition drilling is also underway and is designed to increase resources at the Sandstone gold project.

Middle Island Resources is about to lock in an option agreement over the sale of its Reo gold project in West Africa on significantly improved terms that will give it an immediate 8% stake in a Canadian gold explorer worth A$675k and A$200k in cash. If the option is exercised, Middle Island will bank a further A$200k in cash that no doubt will come in handy for the company's exploration activities in W.A

Middle Island Resources has accidentally produced another stunning gold intercept from the Two Mile Hill deposit near Sandstone while drilling a large diameter core hole to collect samples for ore sorting testwork. The latest intercept from a poorly drilled section of the deposit featured 100 metres at 2.02 g/t gold, including 7m at 18.1g/t gold, well above the target grades for the Two Mile Hill deeps deposit.

Overland Resources Limited is pleased to advise that it has executed a Sale and Purchase Agreement with Peter Gianni to acquire a 100% interest in Exploration Licence Application 53/1971 for a tota

Middle Island Resources has entered a deal with Canadian-based Tajiri Resources to sell the last of its West African gold interests.The company announced this week it had executed a heads of agreement with Tajiri to sell its Reo project in Burkina Faso. The deal earns Middle Island up to US$355,000 in a series of cash payments and 8% of the fully diluted capital of TSX-V listed Tajiri.

SPECIAL REPORT: Financing opportunities have improved markedly from just two years ago for the state's junior miners, amid growing demand for drill rigs and skilled workers.

SPECIAL REPORT: Western Australian stockbrokers and companies raised nearly $1.1 billion in 104 transactions in the March quarter, with gold deals being a major driver of activity, according to new data compiled for the BNiQ Search Engine.

West Perth-based gold miner Middle Island Resources has raised $5 million towards its proposed acquisition of the Samira Hill gold mine in West Africa through a share placement.

West Africa-focused gold hopeful Middle Island Resources has launched a $5 million share placement, satisfying one of the conditions of its acquisition of the Samira Hill gold mine and boosting wor

THE level of exploration activity being undertaken by junior miners in Africa is increasing, with Burkina Faso in particular coming more into focus as a promising gold producer.

With 10 out of 11 Western Australian resources-focused listings from December 2010 trading above their issue price, 2011 promises to be a strong year for minerals-related investment.

Newmont Mining has agreed to be a cornerstone investor in Middle Island Resources, which is planning a $12.5 million initial public offering and hopes to list on the Australian Securities Exchange later this year.