The share price of gold miner Middle Island Resources closed 25% higher on Tuesday after the company announced a 500 000 oz inferred mineral resource estimate for the Two Mile Hill deeps gold deposit, at its Sandstone project in Western Australia.
The ASX-listed company told shareholders that the new mineral resource is comprised of 480 000 oz associated with the tonalite-hosted portion of the deposit, and a further 20 000 oz within the banded iron formation hosted element.