Middle Island Resources : 10 Jan 2022 - IP Survey Defines Highly Prospective Drill Target PDF
MDI.AX
Middle Island Resources Ltd
ACN 142 361 608
ASX code : MDI
www.middleisland.com.au
Capital Structure:
122,418,222 ordinary shares
20,307,314 unlisted options (exercisable at $0.1771 to $0.1817 expiring 31 January 2022)
Cash & 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
Contact:
Brad Marwood
Office: +61(8) 9322 1430
IP Survey defines highly prospective drill target
Figure 1
Crosswinds Cu Prospect - IP Chargeability target
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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
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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.
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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)
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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
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Disclaimer
Middle Island Resources Limited published this content on 10 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2022 04:47:05 UTC.