Middle Island kicks off NT geophysical survey

Middle Island has kicked off a detailed magnetics and radiometrics survey over its prospective Barkly copper-gold project area located in the emerging Tennant Creek mineral hub in the Northern Territory. The company is also marching forward with the Crosswinds copper discovery, also in the NT having recently completed a 2 kilometre induced polarisation, or “IP” survey following up on initial copper oxide mineralisation identified in October.

The Barkly copper-gold project is located just 5km south of Emmerson Resource’s Hermitage project where it recently hit a gigantic 117 metre discovery drill hole grading a whopping 3.38 per cent copper. Notably, that hole ended in mineralisation and is yet to be fully tested and even included a 30m hit at a bonanza 7.25 per cent copper and 2.69 grams per tonne gold.

A detailed aeromagnetic survey has commenced in collaboration with the NT government that is providing funding to support the NT government collaboration program. Following aeromagnetic surveying, a ground gravity survey is planned to target the priority Crosswinds prospect area, with other surveys to follow.

The recently completed IP geophysical survey, also at the Barkly deposit, aimed to assist with defining the source of surficial copper mineralisation at depth. The company is now processing results and it hopes to create several drill-ready targets over the coming months.

Middle Island recently got its hands on two new contiguous tenements in the East Tennant Creek project area totalling 809 square kilometres of prized territory. The newly added tenure boosts the company’s NT landholding to a whopping 5,220 square kilometres across 13 exploration licences.

The shift of focus to the Tennant Creek tenure comes off the back of a recent sale of the company’s Sandstone gold project to Aurumin in which Middle Island received a $6 million upfront payment to fund an aggressive exploration campaign in the NT.

Additionally, $6 million worth of Aurumin shares have been issued to Middle Island to sweeten the deal allowing Middle Island to retain some upside to the project via its Aurumin holdings.

According to the Middle Island, the Barkly project area is considered prospective for large copper-gold discoveries analogous to the Olympic Dam style of IOCG mineralisation.

Intense exploration activities are currently underway by multiple ASX-listed explorers including Newcrest, Rio Tinto and Emmerson Resources in the area surrounding Middle Island’s Tennant Creek project tenure.

Middle Island has a busy 2022 ahead including ground gravity, target definition and drilling programs in the pipeline with drill rigs currently being secured.

According to MinEx CRC – one of the world’s largest collaborative bodies bringing together research, industry and government – and the NT Geological Survey, the East Tennant Creek region in the NT is emerging as one of Australia’s most exciting exploration frontiers. With bonanza results coming back from the nearby Emmerson Resources in the order of 117m at 3.38 per cent copper its not hard to see why and Middle Island’s Barkly project sits right in the thick of the action.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au