Mid­dle Is­land eyes Two Mile drilling

Midwest Times - - NEWS -

Ex­plo­ration com­pany Mid­dle Is­land plans to drill three tar­gets within its gold project at Two Mile Hill, about 20km south-west of Sand­stone.

The com­pany has ob­tained a grant of up to $150,000 from the State Gov­ern­ment to fund half the cost of test drilling up to three sep­a­rate tar­gets un­der the Ex­plo­ration In­cen­tive Scheme

In a state­ment to the Aus­tralian Stock Ex­change, Mid­dle Is­land said it in­tended to com­plete a single di­a­mond drill hole into each of the three grav­ity tar­gets in 2019.

How­ever, this “de­pended on mar­ket sen­ti­ment and avail­able Com­pany fund­ing” to match the grant.

“Should ad­e­quate Com­pany co-fund­ing not be avail­able to com­plete the en­tire pro­gramme, it is in­tended to drill one or more tar­gets as cir­cum­stances per­mit,” the state­ment reads.

“There is no re­quire­ment to utilise all or any of the EIS grant fund­ing.”

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