Middle Island Resources Ltd
(ASX:MDI) says its acquisition of the Sandstone gold project was completed yesterday.
The mining company is planning to commence resource definition drilling as soon as the WA government approves its programme of work.
Middle Island says resource definition drilling will finish in August, and provide key information needed to commence the pre-feasibility study.
The company says the pre-feasibility study will be completed in the December quarter and, if the results are positive, then gold production will re-commence next year.
Middle Island reported a net loss of $2.5 million at 31 December 2015.
