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  • Middle Island Resources Uncovers More High Grade Gold In Liberia 0 comments
    Nov 22, 2012 9:05 PM

    Middle Island Resources (ASX: MDI) has received final assays for a recent drilling program at its Big Hill prospect in Liberia - and they did not disappoint.

    The results provide plenty of encouragement that a potential high grade satellite gold resource may be defined at the prospect.

    The Big Hill prospect lies within the Barteh Jam mining centre at the Nuon River Project.

    Highlight intercepts from the reverse circulation/diamond drilling program include:

    - 2.6 metres at 5.43 grams per tonne (g/t) gold, including 1.1 metres at 11.2g/t gold;
    - 4 metres at 12.7g/t gold, including 1 metre at 49g/t gold;
    - 3 metres at 4.51g/t gold, including 1.4 metres at 7.42g/t gold;
    - 1 metre at 19.9g/t gold; and
    - 3 metres at 11.7g/t gold.

    The results of the entire drilling program indicate the gold mineralisation is present on all sections, and in the majority of holes on each section, over the entire 3 kilometre strike length of the Big Hill anomaly.

    The recent higher grade results returned from the eastern half of the prospect are consistent with visible gold evident in drill core and surface exposures.

    Previous exploration

    The new results are in addition to the 35 reverse circulation/diamond drill holes announced earlier in the year.

    Previous results included:

    - 3 metres at 4.9g/t gold;
    - 16 metres at 1.16g/t gold, including 1 metre at 5.62g/t;
    - 3 metres at 2.69g/t gold;
    - 4 metres at 2.64g/t gold; and
    - 1 metre at 8.8g/t gold.

    Nuon River Project

    The Nuon River Project, which covers over 3,000 square kilometres in Liberia, has the most technically prospective gold terrain in West Africa.

    It is located immediately along strike from the Ity gold project in Côte d'Ivoire, an operational open pit mine that has produced over 600,000 ounces of gold in its 20 plus years of operation.

    The mine has Probable reserves of 83,540 ounces and a Measured and Indicated resource of 296,100 ounces.

    Barteh Jam, discovered in 1946, is the second largest artisanal gold camp in Liberia.

    The Big Hill saprolite prospect is defined by a plus-3 kilometre long, 80 to 150 metre wide, open ended zone of abundant artisanal shafts and pits.

    It is host to abundant visible free gold in quartz veins.

    Tenure issues

    Middle Island has some tenure issues surrounding the Grand Gedeh permit in which it is earning a 75% interest.

    The permit is one of six semi-contiguous permits comprising the Nuon River Project, the other five being held 100% by Middle Island and all of which are in good standing.

    The company and its joint venture partner, Superior Minerals Resources, is currently in discussion with the Liberian Ministry of Lands, Mines and Energy to resolve the status of the permit.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

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