Bobija Deposit Expansion Raises Questions on Resource Potential and Next Steps

• Maiden reverse circulation drilling confirms widespread gold-silver-copper-lead-zinc mineralisation
• Significant thick intercepts including 52m @ 1.17g/t Au and 26g/t Ag in previously undrilled zones
• Mineralisation extends across a contiguous ~300m x 300m area and remains open-ended
• Phase 2 drilling planned to further delineate deposit and include diamond core drilling
• Strong association of precious metals with base metals highlights polymetallic potential

Maiden Drilling Confirms Robust Polymetallic Mineralisation

Middle Island Resources Limited (ASX – MDI) has announced assay results from its inaugural reverse circulation drilling program at the Bobija Project in Serbia, confirming extensive gold, silver, copper, lead, and zinc mineralisation. The Phase 1 program, comprising 11 drill holes totaling 816 metres, has revealed thick, continuous mineralised zones across the historic mine area, including sections previously interpreted as barren.

Notably, drill hole BMLRC001 intersected 52 metres grading 1.17 grams per tonne gold and 26 grams per tonne silver from just 9 metres depth, challenging earlier assumptions about the deposit’s extent. Other holes returned similarly encouraging results, such as 17 metres at 1.44 g/t gold and 34.6 g/t silver, and 23 metres at 1.12 g/t gold with elevated base metals. These intercepts suggest a single, broadly continuous mineralised horizon spanning approximately 300 by 300 metres.

Expanding the Known Footprint and Unlocking Value

The results extend mineralisation beyond historically defined zones, including the Central, West, and North Zones, and confirm that gold and silver are strongly associated with base metal sulphides. This polymetallic signature enhances the deposit’s economic appeal, especially with precious metals near record prices. Middle Island’s Non-Executive Chairman, Daniel Raihani, highlighted the significance of intersecting thick mineralisation in areas previously considered barren, underscoring the deposit’s exceptional potential.

Historical exploration at Bobija focused primarily on lead, zinc, and barite, often neglecting gold assays. Middle Island’s systematic approach, including recent channel sampling that returned up to 46 metres at 1.07 g/t gold and 92 g/t silver, now paints a more comprehensive picture of the deposit’s value.

Next Steps and Exploration Outlook

Encouraged by these inaugural results, Middle Island is actively planning a Phase 2 drilling campaign. This next phase may incorporate diamond core drilling to better understand the geological controls and refine resource estimates. The company also awaits pending barium assay results, which could further inform metallurgical and economic assessments.

Bobija’s location within the Western Tethyan Mineral Province, a world-class mineral belt hosting major deposits such as Zijin Mining’s Cukaru Peki and Rio Tinto’s Jadar project, adds strategic significance. Middle Island’s broader Serbian portfolio, including the Timok and Priboj projects, positions it well to leverage regional exploration momentum.

While these results are promising, the deposit remains at an early stage, with further drilling required to define mineral resources and assess economic viability. Nonetheless, the continuity and grade of polymetallic mineralisation uncovered so far provide a compelling foundation for Middle Island’s growth ambitions in Serbia.

Bottom Line?

Middle Island’s Bobija results open a new chapter in Serbian polymetallic exploration, with Phase 2 drilling poised to unlock further value.

Questions in the middle?

• How will pending barium assay results influence metallurgical processing plans?
• What is the timeline and scope for Phase 2 drilling and potential resource estimation?
• How might Middle Island’s discoveries impact its positioning within the competitive Western Tethyan Mineral Province?