# MDI - Middle Island Resources



## System (3 December 2010)

Middle Island Resources (MDI) currently has the rights to three projects, variously comprising six granted exploration permits and four exploration permit applications covering an aggregate area of 2,565.4km²  located in the countries of Burkina Faso and Niger in West Africa.

http://www.middleisland.com.au


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## springhill (13 August 2012)

MC - $18m
SP - 14.5c
Shares - 125m
Options - NQ
Cash - $13m

MDI have a heap of cash, enough to fully fund exploration for 2 years. The MC:Cash ratio is fantastic and have few enough shares to be a great low liquidity play.
Plenty of exploration, drill results pending and being in the market for acquisitions of new projects and distressed assets and/or companies at discounted values, make them a stock capable of big gains from high impact announcements.

*Reo Gold Project (Burkina Faso)*
● A further 5,115m (616 holes) of geochemical auger drilling were completed during the June Quarter, bringing the program total to 69,528m (9,341 holes).
● A further 29,021m (991 holes) of rotary air blast (RAB) drilling were completed during the June Quarter, bringing the program total to 49,893m (1,440 holes).
● Further encouraging RAB results from the K4/K5 Prospect include 8m at 1.86g/t, 4m at 12.2g/t and 4m at 3.40g/t Au, in addition to previously reported RAB, aircore and RC intercepts of 18m at 2.51g/t (eoh), 13m at 2.23g/t (eoh), 4m at 14.0g/t, 12m at 4.11g/t, 8m at 2.55g/t, 20m at 1.73g/t, 12m at 1.06 g/t, 4m at 8.54g/t and 18m at 1.59g/t Au.
● Dedicated, containerised, sample preparation laboratory ordered from South Africa, to remove dependence on over-committed West African assay laboratories.

*Nuon River Gold Project (Liberia)*
● An initial reverse circulation percussion (RC) and diamond core drilling program, comprising 35 holes for 3,102.1m, was completed at the Big Hill Prospect within the Barteh Jam artisanal mining camp.
● Better drilling intercepts to date include 3m at 4.19g/t, 16m at 1.16g/t, 4m at 2.64g/t, 1m at 8.80g/t, 1m at 5.43g/t and 1m at 5.09g/t Au, with further visible gold in drill core yet to be cut and sampled.
● All results from BLEG stream sediment sampling have been received, with results defining eight gold anomalies.
● Structural interpretation and targeting studies have been completed on airborne geophysical data, defining the lithological and structural architecture of the project from a gold perspective, an itabirite iron ore occurrence and 51 interpreted kimberlite pipes.

*NassilÃ© Gold Project (Niger)*
• No further assay results received for RC drilling (168 holes; 12,251m) completed during the 2012 March Quarter to assess the Songonduari and Forbemi auger anomalies.
• All results received for a 13,535m (2,255 hole) geochemical auger drilling program designed to extend geochemical coverage across major structural elements identified from the airborne magnetic survey during the March Quarter. A significant new target (Kimba) has been identified to the northwest of the Songonduari mineralised trend.

*Dogona Gold Project (Niger)*
• Reconnaissance gold soil sampling and auger drilling (2,455 holes; 16,350m) were completed over priority corridors interpreted from airborne geophysical surveys within both Dogona permits during the June Quarter. All results are pending.


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## springhill (29 August 2012)

*Further encouraging RC drilling results from the Songonduari & Forbemi gold targets in Niger*

● Middle Island has met its commitments to earn its full 70% undivided interest in the NassilÃ© permit following aggregate exploration expenditure of over US$2M.

● Following the recent grant of the 100% owned Kakou permit in Niger, the Company’s four permits have now collectively been renamed the ‘Sirba Project’.

● Further encouraging reverse circulation percussion (RC) drilling results have been returned from the 8km long Songonduari and 2km long Forbemi prospects within the NassilÃ© permit.

● Significant recent intercepts include 
6m at 1.91g/t, 
2m at 7.60g/t, 
16m at 2.76g/t (including 10m at 4.09g/t) 
and 2m at 4.08g/t Au from the Songonduari target, 
and 2m at 4.23g/t 
and 4m at 9.71g/t (including 2m at 18.9g/t) Au at the Forbemi target.

● These results are in addition to those previously reported from the Songonduari target, including 
12m at 3.08g/t, 
6m at 1.98g/t, 
3m at 4.90g/t, 
15m at 2.24g/t, 
4m at 2.24g/t, 
2m at 4.31g/t and 
2m at 5.45g/t Au.

● Assays for a further 9 holes remain pending from reconnaissance RC drilling traverses completed on the NassilÃ© permit during the 2011-12 field season. These are expected to become available in early September 2012.

● Additional auger drilling completed to the northwest of the Songonduari trend on the NassilÃ© permit has defined a further significant anomaly (to 3g/t Au) over a 10km strike length, which has been named the ‘Kimba Prospect’, coincident with a northwest trending granite contact.


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## springhill (30 August 2012)

*4m at 21.7g/t Au greenfields discovery in maiden Samba Prospect drilling, Burkina Faso*

● Maiden reconnaissance RAB drill traverses completed at the recently defined Samba Prospect have identified a greenfields discovery comprising a significant initial result of 4m at 21.7g/t Au from 20m down-hole depth, which ends in mineralisation.

● The limited exposed geology at Samba, in the northeast corner of the Reo gold project, comprises strongly sheared and extensively altered and quartz veined meta-basalts.

● A further encouraging RAB drill intercept of 4m at 2.38g/t Au has been received from the K4/K5 target, adding to previous intercepts of
18m at 2.51g/t (eoh), 
13m at 2.23g/t (eoh), 
4m at 16.2g/t,
4m at 14.0g/t, 
12m at 4.11g/t, 
8m at 2.25g/t, 
20m at 1.73g/t,
12m at 1.06g/t, 
4m at 8.54g/t, 
18m at 1.59g/t, 
8m at 1.86g/t,
4m at 12.2g/t and 
4m at 3.40g/t Au.

● The K4/K5 and Samba prospects have been confirmed as high priority targets for further RAB, RC and limited diamond core drilling early in the 2012-13 field season.

● Solitary new intersections of 4m at 2.19g/t and 4m at 3.65g/t Au have also been returned from RAB drilling at the East and Dassa prospects respectively.

● All assay results have now been received for reconnaissance and infill auger drilling (69,528m; 9341 holes) completed at the Reo gold project during the 2011-12 season.

● The decision to reclaim and redistribute the sample backlog from the SGS laboratory in Ouagadougou has resulted in the majority of assays now having been returned, and the remaining results are expected by mid-September 2012.


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## Balgar (14 March 2013)

Hi All,
I bought some shares in MDI because of the latest announcement:

http://www.asx.com.au/asxpdf/20130314/pdf/42dn3pbbkpppc2.pdf?bcsi_scan_120f035b07df3e4c=0&bcsi_scan_filename=42dn3pbbkpppc2.pdf

Is it worth keeping these shares for a long time, as it sounds like a good investment opportunity?


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## burglar (15 March 2013)

Balgar said:


> Hi All,
> I bought some shares in MDI because of the latest announcement:
> 
> http://www.asx.com.au/asxpdf/20130314/pdf/42dn3pbbkpppc2.pdf?bcsi_scan_120f035b07df3e4c=0&bcsi_scan_filename=42dn3pbbkpppc2.pdf
> ...




We are not allowed to give financial advice. 

In my opinion this one looks like a good punt.
"There's many a slip 'twixt the cup and the lip is an old English proverb. It implies 
that even when the outcome of an event seems certain, things can still go wrong."
If you can afford to lose the money, you may well consider them as a long term investment.
Otherwise, consider watching them very closely.


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## greggles (24 February 2020)

The share price of this mining minnow has been firing up recently with some interesting developments having been announced in the last couple of weeks.

In brief:

A substantial ~12,800m, multi-rig, reverse circulation (RC) drilling campaign commenced the week of 11 February at 14 open pit gold targets within 4km of the Company's 100%-owned gold processing plant at the Sandstone gold project in central WA. The drilling is designed to increase and/or upgrade existing open pit Mineral Resources, prior to the anticipted updated pre-feasibility study (PFS) which is due in the June quarter.

The Company has been successfully allocated between 19% and 95% of each of the four competing exploration licence applications, representing some 1,363 square kilometres, within the newly available IOCG-prospective former Barkly moratorium area of the Northern Territory (NT). A further six Middle Island exploration licence applications, covering an additional 1,890 square kilometres (including two within the northern part of the former moratorium area) had already been accepted in full (100%).
However, it is worth noting that a recent non-renounceable entitlement issue was undersubscribed by 267,115,966 shares with the shortfall placed with the underwriter. Given that the entitlement issue was announced very early last month, before the recent announcements, it is understandable why it wasn't fully subscribed. Although that may represent a red flag to some.

Volume started to increase substantially on 19 February. Watching this one closely. Drilling results expected soon.


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## frugal.rock (23 December 2020)

Just throwing an updated chart up.
Have noticed this one over the last few days.  Don't hold. 
Would want to see it break the last 4 months trend properley to consider. Some of the names mentioned in the start of the thread such as Burkina Faso & Liberia sound a bit politically iffy. 
Not sure if there's anything doing over there but noticed greggles post talking about Aus' tenements or prospects.


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