Middle Island Resources has completed a strategic acquisition in Serbia, backed by a $3.4 million capital raise, and reported promising high-grade drilling results at its Bobija Project, signalling a significant step forward in its exploration ambitions.
- Acquisition of Konstantin Resources expands Serbian exploration footprint to 620km²
- Successful $3.4 million placement strengthens balance sheet
- Maiden RC drilling at Bobija yields thick, high-grade gold-silver-copper-lead-zinc intersections
- Channel and soil sampling confirm widespread polymetallic mineralisation
- Key board and management appointments to drive Serbian project development
Strategic Acquisition Bolsters Serbian Presence
Middle Island Resources Limited has taken a decisive step in expanding its exploration portfolio with the completion of its acquisition of Konstantin Resources Limited. This move grants Middle Island control over an extensive 620 square kilometre exploration package in Serbia’s established mining jurisdiction, targeting a suite of valuable metals including gold, silver, copper, lead, and zinc. The acquisition aligns the company with the prolific Western Tethyan Mineral Province, a region renowned for hosting world-class deposits.
Capital Raise Fuels Exploration Momentum
To underpin its ambitious exploration plans, Middle Island successfully raised $3.4 million through a placement of 200 million shares at 1.7 cents each. The capital injection not only strengthens the company’s cash position, reported at $3.47 million at quarter-end, but also signals strong investor confidence in the newly acquired Serbian assets and the company’s growth strategy.
Encouraging Maiden Drilling Results at Bobija
The maiden reverse circulation (RC) drilling program at the Bobija Polymetallic Project has delivered thick, high-grade intersections that extend the known mineralisation footprint. Noteworthy results include a 52-metre intercept grading 1.17 grams per tonne (g/t) gold, 26 g/t silver, and significant base metals from just 9 metres depth, alongside other substantial intercepts across the 11-hole, 816-metre campaign. These results not only confirm the presence of polymetallic mineralisation but also reveal mineralised zones in areas previously considered barren, suggesting a larger deposit potential than historically recognised.
Complementary Channel and Soil Sampling Reinforce Potential
Complementing the drilling, channel sampling within the historic Bobija open pit returned high-grade assays over significant strike lengths, including intervals with up to 1.9 g/t gold and 229 g/t silver. Meanwhile, soil sampling in the nearby Tisovik area identified substantial lead and zinc anomalies over a broad 1.5-kilometre strike, highlighting multiple targets for follow-up exploration. These geochemical results provide a compelling case for further drilling and resource definition.
Leadership Changes to Drive Growth
Middle Island has also refreshed its leadership team to support the Serbian expansion. Daniel Raihani was appointed Non-Executive Chairman, bringing extensive business development experience, while David A-Izzeddin, founder of Konstantin Resources, joined as Non-Executive Director, adding deep geological expertise. Peter Spiers, formerly Executive Chairman of Konstantin, was named CEO, ensuring continuity and in-depth knowledge of the Serbian assets. These appointments position the company well to advance its exploration and development objectives.
Looking Ahead
With phase 2 drilling planned for early 2026 and ongoing soil sampling programs, Middle Island is poised to build on its initial successes. The company is also reviewing its Australian copper-gold projects, prioritising Queensland assets for their near-term discovery potential. As Middle Island consolidates its Serbian foothold and advances exploration, the market will be watching closely for further assay results and resource updates.
Bottom Line?
Middle Island’s Serbian acquisition and maiden drilling results mark a promising start, but upcoming exploration phases will be critical to unlocking the full value of its polymetallic portfolio.
Questions in the middle?
- How will phase 2 drilling results at Bobija influence resource estimation and project valuation?
- What is the timeline and strategy for advancing the Tisovik and Timok project areas following soil sampling anomalies?
- How will the new leadership team shape Middle Island’s exploration and development priorities in Serbia and Australia?