MDI middle island resources limited

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Yes most definitely. If you look at the footprint of the...

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HongFang

929 Posts.

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02/08/22

14:18

Post #: 62878071
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Originally posted by Corgi: ↑

Once again, i'm not a geo but the target was established from the IP surveys and we drilled through the guts of the anomaly zone. The anomaly zone comprised of a hematite alteration zone. @ainsleym @HongFang can mineralization occur in this zone?

From what i can gather from the ann the potential for IOCG system is still there but the hunt is for an economical discovery. We're probably going to give crosswinds another 1 of 2 drill test holes to see what it shows, we can't abandon the target until we at least find the source of mineralization.

I hope to god it was simply just a misplaced drill hole.

Then it is only Barkley Homestead to drill test that.

In the worst case scenario both these targets are duds and we run out of cash, we can simply do what most other mug grass roots players do and acquire a project in a metal that is hot and pumping. similar to what XTC did when they were a 0.2 cent Co.

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Yes most definitely. If you look at the footprint of the economic mineralised zone of other IOCG around the place they only make up a relatively small portion of the larger magnetic/IP anomaly. The difficult part is finding these zones within the target when there is over 250m of overlying cover and the target is so large and each drill is expensive. But each drill hole will give the geo's more info to be able to hone in on its location.

MDI Price at posting: 9.1¢ Sentiment: Buy Disclosure: Held
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