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Middle Island Resources Limited (ASX:MDI)

ALERT: Price-sensitive ASX Announcement for MDI
Current share price for MDI : $0.017 -0.027 (-61.36%)+
Announcement
Release
14 Oct 2025 8:56AM
Price at Release
$0.044
Full Release
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Summary
Middle Island Resources Limited has initiated a maiden reverse circulation drilling program at the Bobija Polymetallic Project in Serbia, targeting polymetallic gold-silver-copper-lead-zinc mineralisation. The company plans to acquire Konstantin Resources, which holds the project. The program focuses on a historic open pit, with significant potential for gold and silver mineralisation. This initial drilling of up to 800 meters aims to develop a new geological model based on the results, complementing recent channel sampling. With historical exploration by the Yugoslav State, MDI is optimistic about the project's future, drawing parallels with the successful Vares polymetallic mine in Bosnia.
Key Points
  • Middle Island Resources Limited (MDI) has commenced a maiden reverse circulation drilling program at the Bobija Polymetallic Project in Serbia.
  • MDI aims to acquire 100% of Konstantin Resources, which holds the Bobija project.
  • The drilling program targets polymetallic gold-silver-copper-lead-zinc mineralisation.
  • The Phase 1 drilling program includes up to 800 meters of drilling with an average hole depth of 80 meters.
  • Channel sampling has been completed in the Bobija open pit, with assay results pending.
  • The Bobija deposit, historically explored for barite, lead, and zinc, shows potential for significant gold and silver mineralisation.
  • MDI likens Bobija’s potential to the Vares polymetallic mine in Bosnia and Herzegovina.
  • Historical exploration in the Bobija area includes drilling and underground development by various entities, including the Yugoslav State.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.