Middle Island Extends Bobija Polymetallic Footprint with Strong Gold-Silver Intercepts

Broad Polymetallic Mineralisation Emerges at Bobija

Middle Island Resources (ASX:MDI) has unveiled a substantial expansion of the mineralised footprint at its Bobija gold-silver-lead-zinc project in Serbia following Phase 2 reverse circulation (RC) drilling. The nine initial drill holes have all intersected wide, near-surface zones of polymetallic mineralisation, confirming a large, sub-horizontal layer spanning approximately 300 metres by 300 metres within the historic mine area.

Noteworthy intercepts include 62 metres at 0.72 grams per tonne (g/t) gold and 27.4 g/t silver from 16 metres down-hole in hole BMLRC012, which also carried lead, zinc, and copper credits. Similarly, hole BMLRC014 delivered 62 metres at 0.77 g/t gold and 18.4 g/t silver from just 2 metres, including a higher-grade 5-metre interval at 4.66 g/t gold and 77 g/t silver. These results underscore the emerging importance of gold and silver in what was historically considered a base metal deposit.

Continuity and Scale of the Mineralised System

Every drill hole reported to date has intersected significant mineralisation, including in zones previously interpreted as barren. This consistency supports Middle Island’s geological model of a broadly continuous polymetallic horizon beneath the Bobija mine area. The mineralised layer appears to extend laterally between the West and North mineralised zones, areas that had limited prior drilling.

The system remains open in all directions, with mineralisation untested to the north and at depth. Assay results for eight additional drill holes targeting the Central (Southern) Mineralised Zone are pending, potentially expanding the known footprint further.

Historical Context and Exploration Upswing

Bobija has a rich mining history dating back to the mid-20th century, with prior exploration focused largely on lead, zinc, and barite. More recent drilling by Middle Island and predecessors has revealed the significant gold and silver credits now coming to the fore. The project sits within Serbia’s Western Tethyan Mineral Province, a prolific mineral belt hosting world-class deposits such as Zijin Mining’s Cukaru Peki and Rio Tinto’s Jadar projects.

Middle Island’s CEO, Peter Spiers, highlighted the encouraging nature of the results and the opportunity ahead: "The consistency of substantial mineralisation across all holes, including in previously barren areas, strongly supports our view that Bobija hosts a large, laterally extensive system. With further assays pending and additional drilling planned, Bobija remains at an early stage with considerable potential for growth." Spiers is currently transitioning out of the CEO role, with Executive Chairman Daniel Raihani overseeing operations during the search for a successor.

Next Steps and Regional Exploration

Middle Island plans to accelerate exploration with further drilling designed to test the full extent of the Bobija system and assess continuity across the 300m by 300m footprint. Concurrently, soil sampling programs continue at the nearby Tisovik area, where recent results have identified a substantial silver-lead-zinc-antimony anomaly. This regional work complements Bobija and aims to uncover additional targets within the company’s Serbian portfolio.

Environmental and cultural site restrictions exist within the project area, with some zones requiring special approvals or seasonal activity limitations. Middle Island is working with local authorities and landowners to manage these constraints as exploration advances.