Ridgelands Goldfield Shallow Mineralisation Open at Depth; Barkly Project Advances

Exploration Momentum at Ridgelands and Barkly

Middle Island Resources Limited (ASX – MDI) has provided a comprehensive update for the quarter ended 30 June 2025, underscoring steady progress across its key projects in Queensland and the Northern Territory. The company’s systematic review of historical data at the Ridgelands Project in Queensland has identified multiple exploration targets, with the standout being the historic Ridgelands Goldfield. Here, shallow gold mineralisation remains open both at surface and at depth, presenting a compelling 'walk-up' target for near-term exploration.

Meanwhile, in the Northern Territory, the Barkly Copper-Gold Super Project continues to develop a robust pipeline of drill targets. Following the wet season, field activities including soil sampling at the Georgina Project area have been completed, testing new mineralisation concepts. Rehabilitation of ground disturbance from prior drilling campaigns at multiple prospects has also been finalised, enabling environmental bond refunds and regulatory compliance.

Funding and Strategic Tenement Management

Middle Island received the final instalment of a $300,000 co-funding drilling grant from the Northern Territory Government’s Geophysics and Drilling Collaborations program. This grant supported diamond drilling at the Georgina and Barkly project areas, although some drilling was postponed due to weather and logistical challenges. The company is actively refining its tenement portfolio, relinquishing less prospective areas to reduce holding costs, with further reductions planned.

Financially, Middle Island maintains a solid position with aggregated cash and share investments of A$2.397 million as of 30 June 2025. This liquidity underpins planned exploration activities, including reconnaissance fieldwork and drilling scheduled for the second half of 2025 and into 2026.

Corporate Developments and Future Outlook

The quarter also saw notable management and board changes. Rudolf Tieleman stepped down as CFO and Company Secretary, with Kian Tan and Gabriel Chiappini appointed to these roles respectively. Additionally, two directors resigned following an Extraordinary General Meeting, with Daniel Raihani and Bill Richie Yang joining the board. These changes may signal a strategic refresh as Middle Island pursues new copper-gold project acquisitions both domestically and internationally.

Looking ahead, the company is adopting a staged exploration strategy prioritising near-surface targets like Ridgelands, supported by detailed geological mapping, geophysical surveys, and drilling. At Barkly, further drilling and geophysical work will be contingent on securing additional funding, with the company leveraging recent data to refine target models and improve drilling success probabilities.