Middle Island Resources Limited (ASX: MDI) has released its Quarterly Activities Report for the period ended 30 June 2026, highlighting significant exploration success at its Bobija project in Serbia. The company, an exploration firm focused on gold and base metal deposits in the Western Tethyan Mineral Province, Serbia, reported outstanding results from its 17-hole Phase 2 drill program at Bobija. Drilling continues to define a laterally extensive, shallow gold-silver-base metal system that remains open in multiple directions. Notable broad intersections include 62 metres at 0.72g/t gold, 27.4g/t silver, 0.11% copper, 0.60% lead & 1.22% zinc from 16 metres, and 40 metres at 1.23g/t gold, 64.0g/t silver, 0.15% copper, 0.99% lead & 0.92% zinc from 1 metre.
The Bobija project is rapidly emerging as a major shallow gold-silver discovery, with drilling linking previously discrete Central, West, and North zones into a priority target covering approximately 80,000 square metres. Phase 3 drilling is now planned to further extend this mineralisation. Concurrently, Middle Island also reported positive outcomes from soil and rock chip sampling in the Tisovik area, approximately 4km north of Bobija. This program identified multiple silver-lead-zinc-antimony targets extending across an approximate 6km strike length. High-grade antimony values and visible stibnite mineralisation strengthen the potential for a large carbonate replacement deposit (CRD) system, with the Kozila soil anomaly notably expanded.
Further exploration activities included the completion of infill soil sampling programs within the Priboj Project area, targeting identified copper and gold anomalies, with assay results for these programs still pending. Domestically, the company commenced the planned divestment of its copper-gold exploration projects in the Northern Territory. Corporate updates for the quarter noted cash and listed investments of approximately $3.15 million as at 30 June 2026. Leadership changes saw Mr Peter Spiers resign as Chief Executive Officer, with Non-Executive Chairman Mr Daniel Raihani assuming the role of Executive Chairman. The Serbian leadership team was also strengthened with key appointments, including Mr Stefan Mojicevic as Country Manager.
