Middle Island Resources : IP Survey Defines Highly Prospective Drill Target

MDI.AX

onlyMiddle Island Resources Ltd ACN 142 361 608

ASX code : MDI

www.middleisland.com.au

useCapital Structure: 122,418,222 ordinary shares 20,307,314 unlisted options (exercisable at $0.1771 to $0.1817 expiring 31 January 2022)

personalCash & Investments

$1.7 million (as of 20 December 2021) No debt

Directors & Management:

Peter Thomas

Non-Executive Chairman

Brad Marwood

Executive Director

Bruce Stewart

Non-Executive Director

Rudolf Tieleman

Company Secretary

ForC ntact:

Brad Marwood

Office: +61(8) 9322 1430 [email protected]

IP Survey defines highly prospective drill target

Figure 1

Crosswinds Cu Prospect - IP Chargeability target

Page 1

For personal use only

ASX Release - 10 January 2022

Crosswinds Copper Prospect

The Crosswinds copper prospect is located immediately adjacent to the sealed Barkly Highway, approximately 13km southeast of Barkly Homestead, within EL32297 (ASX release - 23 December 2020).

The surface mineralisation comprises malachite (copper carbonate) exposed in a table-drain adjacent to the Barkly Highway (Figure 2).

Figure 2

Crosswinds Copper Prospect - Malachite (copper carbonate) mineralisation exposed in table drain

Page 2

For personal use only

ASX Release - 10 January 2022

Mineralisation is exposed over an interval of 130m along a table drain, as shown in Figure 3 below.

Figure 3

Crosswinds Copper Prospect - Plan of chip sampling traverse and pXRF results

Mineralised Setting & Interpretation

The Crosswinds prospect is interpreted to represent secondary copper mineralisation that has migrated up growth faults that extend from primary copper-gold mineralisation within the Proterozoic basement rocks, through the otherwise unmineralised Cambrian Georgina Basin sediments to precipitate

at surface, as shown diagrammatically in Figure 4.

Page 3

For personal use only

ASX Release - 10 January 2022

Figure 4

Crosswinds Copper Prospect - Diagrammatic cross-section of interpreted setting

IP Survey Results

Planetary Geophysics Pty Ltd. (www.planetarygeophysics.com), completed one single 2.65km long 2D Induced Polarization (IP) /Resistivity line over a period of 3 days in December 2021.

Rx Dipole Spacing was 200m apart with Tx Injection Spacing 100m apart. The location is shown in Figure 5.

Figure 5

Crosswinds Copper Prospect - IP/Resistivity line 400000E completed (GDA94, Zone 53)

Page 4

For personal use only

ASX Release - 10 January 2022

A photo of the IP equipment used by Planetary Geophysics and Crosswinds Prospect terrain is shown in Figure 6

Figure 6

Crosswinds Copper Prospect - IP/Resistivity line - Collection Photo

Figure 7 shows the gridded chargeability results with a significant chargeable target defined approximately 500m below surface. The top of the Georgina basin is interpreted to be ~250m depth from a MinexCRC hole drilled in 2020 and around 800m from the Crosswinds Prospect.

The materials that are most chargeable and likely to explain the anomaly include sulphide minerals (both massive and disseminated), clay-rich materials, and graphite.

Figure 7

Crosswinds Copper Prospect - IP Chargeability

Page 5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Middle Island Resources Limited published this content on 09 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2022 21:37:05 UTC.