TIDMMML
RNS Number : 8649J
Medusa Mining Limited
06 July 2011
Medusa Mining Limited
("Medusa" or the "Company")
6 July 2011
Co-O DRILLING EXTENDS VEIN SYSTEM LENGTH
Medusa Mining Limited (ASX and AIM - MML; TSX - MLL) ("Medusa"
or the "Company"), through its Philippines operating company
Philsaga Mining Corporation ("Philsaga"), announces an update of
the Co-O Mine surface and underground drilling undertaken since 25
March 2011 up to 30 June 2011.
Highlights include:
Width Grade (uncut)
Hole Number (metres) (g/t gold)
------------- ---------- --------------
MD 305 1.40 21.40
------------- ---------- --------------
L5-044 4.85 12.35
------------- ---------- --------------
L5-049 2.00 32.64
------------- ---------- --------------
L5-050 8.65 41.43
------------- ---------- --------------
EXP072 2.95 14.09
------------- ---------- --------------
EXP073 7.30 7.15
------------- ---------- --------------
EXP079 0.90 208.73
------------- ---------- --------------
Recent surface drilling concentrated mainly to the east of the
Oriental Fault in the vicinity and to the east of the Saga Shaft to
provide mine planning information. The multiple East Agsao veins
are developing as a robust vein set strongly open to the east and
already extending to at least 100 metres beyond the current 1,500
metre strike length of the Co-O vein system.
Underground drilling has continued to confirm vein continuity
and discover new veins. A new resource estimate is expected
shortly.
Geoff Davis, Non-executive Chairman of Medusa, commented:
"This is a bumper crop of new results from the Co-O Mine
totalling over 200 individual vein intersections, and the most ever
reported for a quarter's drilling to date. There appears little
doubt from the deep intersections reported that this vein system is
still open at depth with high grade results being returned from
over 800 metres down hole such as the EXP073 intersection above.
The new results show that the East Agsao Vein set, which was partly
included in the resource model in July last year, as well as a
number of new veins, is developing as a robust multiple vein set
with the tops of the veins starting below Level 4. This vein set is
strongly open to the east and is expected to significantly extend
the strike length of the overall Co-O vein system.
Drilling will continue to the east of the Oriental Fault for
some time, before refocusing to the western side of the Oriental
Fault."
Co-O MINE DRILLING
Discussion
This report lists the surface and underground drilling results
obtained since 25 March 2011 to 30 June 2011.
Previous detailed drilling reports were published for MD holes,
EXP holes and underground holes on 5 April 2011, 18 January 2011,
29 October 2010, 30 June 2010, 29 March 2010, January 2010, 10
December 2009, 1 July 2009, 22 January 2009, 1 December 2008 and 12
August 2008. In 2007 the announcements are dated 9 July, 15 May and
28 February.
Results down to 0.2 metres wide are reported since underground
development shows that in many cases as the veins approach
cross-cutting faults, they narrow down on both sides of the fault
over 5 to 10 metres before widening out, and hence the narrower
intersections are important in defining vein continuity. There is
also some pinching and swelling of veins along strike. Most
drilling is sub-parallel to the fault direction and rarely
intersects the faults, which are subsequently identified by
underground on-vein development.
It should also be emphasised that drilling of vein systems
rarely provide ore-grade intersections in every hole. As our data
base grows, and the characteristics of each vein become clearer,
statistical assessment of the percentage of oregrade drill hole
intersections required, maybe as low as 40% of holes with ore grade
intersections, will increasingly provide the levels of certainty
for turning exploration drill results into ore that can be
developed with confidence.
Drill hole collar positions are surveyed by a qualified surveyor
and surface drill holes are surveyed downhole at regular intervals
using a digital multi-shot downhole camera.
It is important to note that the drilling of narrow epithermal
veins generally provides an indication of the presence of the gold
mineralised vein but may not always provide good quantitative data
with respect to accurate grade and volume estimations for some or
all of the following reasons:
- Veins commonly pinch and swell and may be brecciated or
displaced by faults;
- Gold distribution may be erratic; and
- Drill core recovery may be reduced because of the brecciation
and soft unconsolidated material and hence the recovered material
may not be representative of the material drilled.
The Company regards the initial drilling as indicative only and
operates the policy of using drilling to locate the position and
extent of the mineralised veins. This is then followed by on-vein
development to support the drilling results, and to provide a more
accurate estimate of vein grades which results in the upgrading of
the resource category from Inferred to Indicated. The development
supports the estimation of resources and facilitates the conversion
of resources to reserves.
Further information on narrow veins and the Company's policies
regarding exploration, development and resources-reserves is
contained on the Company's website, www.medusamining.com.au
Drilling Results
The surface drilling was changed to focus to east of the
Oriental Fault in the vicinity of the Saga Shaft to facilitate mine
planning close to this major new shaft. A number of new veins have
been discovered in this area, and except for the Royal Veins which
come almost to surface, the tops of the East Agsao set of veins
where the economic grades generally start is between Level 4 and 5.
Above these levels the veins are represented by argillised faults
containing poorly formed vein material, breccias and silicification
with grades generally <2 g/t gold. The East Agsao veins are
strongly open to the east where EXP085 intersected 25 potentially
mineralised structures (assays awaited).
Some drilling also focussed on drilling at depth on the southern
side of the mine to extend the Roysan and associated veins to depth
to around Levels 6 to 8 and to the east. At present, below Level 6,
this drilling in combination with previous drilling has outlined 14
veins to the south of the Saga Shaft with indications of an
additional three veins further to the south. The eastern-most hole
EXP083 intersected five potentially mineralised structures (assays
awaited) between 660 and 800 metres down hole.
Figure 1 (attached) shows the Co-O Mine MD series of diamond
drill holes from MD306 to MD308 totalling 1,928 metres completed in
three holes, the EXP066 to EXP086 drill hole locations comprising
22 holes for a total of 13,302 metres up to completion of EXP086.
Thirteen of the completed holes were over 800 metres deep with the
deepest hole, EXP073, at 905 metres which recorded three high grade
intersections between 800 and 900 metres down hole.
Table I lists the surface diamond drilling results greater than
3 g/t gold from the Co-O Mine for new drill holes MD306 to MD308 as
well as results not previously reported for MD302, MD304 and
MD305.
Figure 2 (attached) shows the recently completed underground
drilling totalling 7,102 metres in 31 holes. Table II lists
underground drill hole results since 25 March 2011. Assays are
awaited for holes L4-017, L4-021, L5-051 to L5-052, L5-054 to
L5-056, as well as L6-001 and L6-002. Additional assays are
reported for holes L3-018, L4-010 to L4-011 and L5-026 to
L5-047.
Table III shows the results >3 g/t gold over >0.2 metres
for holes EXP065 to EXP086. Additional assays are awaited for
EXP075 and EXP079 and all the assays are awaited for EXP076, EXP078
and EXP080 to EXP086. Additional assays are reported for holes
EXP053, EXP063 and EXP064.
Table I. Surface drill hole results >3 g/t gold and >0.2
metres downhole for new holes MD 306 to MD 308 and complete assays
for a previously partly reported hole designated *
Dip Azimuth From Width Grade (uncut)
Hole number East North ([deg]) ([deg]) (metres) (metres) (g/t gold)
-------------- ------------ -------- ----------- ----------- ------------ ------------ ---------------
MD 304** 614065 913089 -62 194 184.00 1.90 6.03 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
293.10 1.00 4.04 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
387.75 2.10 10.66 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
MD 305** 614561 913130 -55 186 153.40 0.80 3.70 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
241.35 1.00 16.97 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
454.70 0.60 6.23 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
475.60 0.75 4.16 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
621.95 0.65 6.43 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
630.20 0.40 3.60 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
635.00 1.40 21.40 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
MD 306** 614564 913127 -59 183 197.10 0.20 7.97 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
312.30 0.20 6.97 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
365.70 0.20 16.25 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
370.35 1.25 4.67 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
433.75 5.15 4.69 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
483.40 1.00 3.83 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
490.20 0.30 15.07 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
501.05 0.30 33.50 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
505.60 1.75 4.25 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
533.25 1.90 8.89 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
687.90 1.00 8.50 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
711.15 1.35 4.51 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
MD 307 614065 913089 -56 183 349.75 0.25 7.03 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
MD 308 614198 912986 -48 180 267.00 1.00 25.81 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
387.10 2.50 4.29 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
391.70 2.30 3.40 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
396.70 0.80 11.10 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
528.75 0.25 6.40 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
538.40 0.25 26.77 (*)
-------------- --------- ------------ ---------- ----------- ------------ ------------ --------------
Notes:
(i) Intersection widths are downhole drill widths not true
widths;
(ii) Assays denoted by (*) are by Philsaga Mining Corporation's
laboratory, all other assays are by McPhar Geoservices Inc. in
Manila;
(iii) Grid coordinates based on the Philippine Reference System
92.
Table II. Underground drill hole results >=3 g/t gold and
>=0.2 metres downhole and complete assays for a previously
partly reported hole designated **.
Grade
Dip Azimuth From Width (uncut)
Hole number East North ([deg]) ([deg]) (metres) (metres) (g/t gold)
-------------- ----------- -------- ---------- -------- --------- --------- ------------
LEVEL 3
-------------- -------- ----------- ------- -------- --------- --------- --------------
L3-018** 613725 912749 3 72 112.85 0.25 29.97 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
LEVEL 4
-------------- -------- ----------- ------- -------- --------- --------- --------------
L4-010** 613563 912804 3 359 43.35 3.05 6.34
-------------- -------- ----------- ------- -------- --------- --------- --------------
73.40 0.30 7.23
-------------- -------- ----------- ------- -------- --------- --------- --------------
L4-011** 613561 912804 3 322 51.85 0.50 3.78 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
L4-013 613731 912737 3 230 13.30 0.65 10.87 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
95.90 0.55 11.87 (8)
-------------- -------- ----------- ------- -------- --------- --------- --------------
L4-018 613953 912893 3 182 100.30 0.35 49.80 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
L4-019 613955 912890 3 162 34.65 0.25 9.30 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
90.70 0.25 20.03 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
L4-021 613971 912910 3 157 2.00 0.25 4.54 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
L4-022 613976 912906 3 219 29.80 0.65 44.90 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
38.00 3.80 5.77 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
LEVEL 5
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-026** 143.25 0.75 24.71
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-029** 613941 912888 -21 219 28.05 0.30 14.50 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
206.60 0.20 6.27 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
127.40 1.30 6.07 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-030** 614137 912894 -19 174 94.35 0.40 7.67 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
136.15 1.15 3.15 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
161.10 2.25 6.07 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
181.10 0.75 8.36
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-031** 613945 912887 0 140 138.95 0.95 24.28
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-034** 613948 912919 0 182 51.80 0.45 3.66 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-036** 614140 912897 -21 146 56.65 1.00 20.00 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
64.15 0.65 20.64
-------------- -------- ----------- ------- -------- --------- --------- --------------
92.95 0.40 53.27
-------------- -------- ----------- ------- -------- --------- --------- --------------
190.70 0.20 15.55
-------------- -------- ----------- ------- -------- --------- --------- --------------
193.20 0.65 5.48
-------------- -------- ----------- ------- -------- --------- --------- --------------
281.35 0.60 22.93
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-037** 613941 912887 -21 229 40.70 0.70 26.18
-------------- -------- ----------- ------- -------- --------- --------- --------------
166.80 0.35 23.56
-------------- -------- ----------- ------- -------- --------- --------- --------------
174.65 0.20 4.76
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-038** 614140 912897 -33 145 66.60 0.70 10.71
-------------- -------- ----------- ------- -------- --------- --------- --------------
79.80 0.70 5.88
-------------- -------- ----------- ------- -------- --------- --------- --------------
81.40 0.20 3.92
-------------- -------- ----------- ------- -------- --------- --------- --------------
109.60 0.40 23.74
-------------- -------- ----------- ------- -------- --------- --------- --------------
118.85 0.35 8.76
-------------- -------- ----------- ------- -------- --------- --------- --------------
140.10 0.20 4.79
-------------- -------- ----------- ------- -------- --------- --------- --------------
221.50 0.30 3.20
-------------- -------- ----------- ------- -------- --------- --------- --------------
243.00 0.90 4.89
-------------- -------- ----------- ------- -------- --------- --------- --------------
272.00 0.20 71.49
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-039** 613943 912887 -53 187 162.05 0.25 15.17 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
177.20 0.70 6.07 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
190.90 0.40 19.55 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
196.80 0.25 63.62
-------------- -------- ----------- ------- -------- --------- --------- --------------
L5-040** 614146 912930 -33 139 50.60 0.25 3.02
-------------- -------- ----------- ------- -------- --------- --------- --------------
66.50 1.10 53.39 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
88.10 0.40 13.17 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
147.35 0.65 5.13 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
161.20 1.60 4.96 (*)
-------------- -------- ----------- ------- -------- --------- --------- --------------
Grade
(uncut)
Hole Dip Azimuth From Width (g/t
number East North ([deg]) ([deg]) (metres) (metres) gold)
---------- -------- -------- -------- -------- --------- --------- -----------
L5-041** 613943 912887 -53 183 60.80 0.55 5.63 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
63.60 0.35 7.23 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
76.95 0.45 19.07 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
174.10 1.30 33.20 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
L5-042** 614137 912894. -33 185 94.20 0.35 5.40
---------- -------- -------- -------- -------- --------- --------- -----------
128.90 0.35 6.13
---------- -------- -------- -------- -------- --------- --------- -----------
L5-043** 613943 912887 -33 183 62.05 0.55 14.39
---------- -------- -------- -------- -------- --------- --------- -----------
L5-044** 614136 912893 -33 194 1.15 0.40 3.13 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
58.35 0.25 8.10 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
66.35 1.05 6.80 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
137.15 4.85 12.36 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
175.90 0.70 4.00 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
203.50 0.55 37.33 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
221.35 2.05 5.48 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
L5-045** 613943 912887 -66 183 12.30 0.95 4.18
---------- -------- -------- -------- -------- --------- --------- -----------
36.50 0.25 6.76
---------- -------- -------- -------- -------- --------- --------- -----------
75.05 1.45 4.62
---------- -------- -------- -------- -------- --------- --------- -----------
170.30 0.70 8.46
---------- -------- -------- -------- -------- --------- --------- -----------
L5-046** 614136 912893 -48 194 117.15 1.45 11.39 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
167.80 0.20 80.83 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
207.80 1.25 15.90 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
L5-047** 613944. 912887 -58 178 179.00 1.10 10.90 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
181.20 2.25 11.30 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
L5-048 614136 912894 -48 183 85.20 0.20 10.33 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
134.15 1.45 54.93 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
159.80 1.50 16.13 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
206.00 0.50 21.00 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
237.00 0.20 14.24 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
L5-049 613944 912887 -47 178 61.70 0.50 9.27 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
115.50 1.40 4.04 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
125.15 1.25 22.13 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
153.20 2.00 32.64 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
L5-050 614140 912897 -48 174 74.65 1.05 9.701 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
91.50 0.50 12.73 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
105.20 0.20 6.97 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
128.25 8.65 41.43 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
140.35 0.60 93.07 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
148.10 1.50 3.77 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
152.30 0.40 12.53 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
161.20 1.00 14.96 (*)
---------- -------- -------- -------- -------- --------- --------- -----------
L5-053 614141 912898 -48 180 77.55 1.00 4.35
---------- -------- -------- -------- -------- --------- --------- -----------
179.35 0.50 26.84
---------- -------- -------- -------- -------- --------- --------- -----------
Notes:
(i) Intersection widths are downhole drill widths not true
widths;
(ii) Assays denoted by (*) are by Philsaga Mining Corporation's
laboratory, all other assays are by McPhar Geoservices Inc. in
Manila;
(iii) Grid co-ordinates based on the Philippine Reference System
92.
Table III. Regional drill hole EXP 066 to 086 results >3g/t
gold and >0.2 metres downhole and complete assays for a
previously partly reported hole designated **.
Dip Azimuth From Width Grade (uncut)
Hole number East North ([deg]) ([deg]) (metres) (metres) (g/t gold)
--------------- ----------- ------- ----------- ----------- ------------ ------------ ---------------
EXP 053** 613433 913647 -50 180 561.85 0.85 18.30 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
564.30 0.35 7.67 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
652.70 1.25 11.38 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
659.05 0.60 7.89 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
661.15 1.35 4.13 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
680.60 0.95 7.16 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
712.65 1.05 3.86 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
777.60 0.45 20.53 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
813.05 0.85 5.59 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
816.60 0.25 7.83 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
EXP 064** 613972 913316 -50 160 348.50 1.00 3.42 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
450.00 0.45 3.10 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
599.40 1.00 5.20 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
EXP 065** 614173 913226 -50 160 376.05 0.30 93.77 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
435.20 0.25 5.90 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
551.00 0.60 8.73 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
553.00 0.20 5.60 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
591.15 2.20 4.40 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
770.45 1.65 9.42 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
EXP 067 614484 913297 -50 160 296.35 1.00 5.32 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
561.15 1.75 3.15 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
564.50 8.30 3.87 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
641.85 0.45 4.24 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
680.65 0.25 29.67 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
689.30 0.90 3.23 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
714.55 2.10 5.90 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
722.05 0.25 32.36 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
EXP 068 614220 913248 -50 160 403.60 0.80 3.33 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
651.00 0.60 15.80 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
655.70 0.75 5.67 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
668.15 0.55 5.34 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
707.35 0.60 3.33 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
733.60 1.00 6.70 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
735.50 1.50 7.95 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
787.80 0.85 6.23 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
EXP 069 614333 913247 -50 160 74.50 0.85 19.43
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
291.45 0.20 22.83 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
386.60 0.50 12.40 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
397.35 1.65 11.41 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
411.25 0.75 5.77 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
573.35 0.70 8.33 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
597.30 1.70 11.34 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
605.05 0.20 7.14 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
630.10 0.20 6.92 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
763.05 0.25 5.97 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
793.40 0.50 3.87 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
EXP 070 614398 913159 -50 160 84.20 0.65 5.17 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
224.20 0.35 5.33 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
299.80 0.20 4.80 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
375.35 2.15 13.14 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
444.45 8.85 5.23 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
472.75 11.75 5.99 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
542.40 2.85 10.28 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
591.35 0.50 4.33 (*)
--------------- -------- ----------- ---------- ----------- ------------ ------------ --------------
Grade
(uncut)
Hole Dip Azimuth From Width (g/t
number East North ([deg]) ([deg]) (metres) (metres) gold)
-------- ------- ------- -------- -------- --------- --------- -----------
EXP 071 614505 913364 -50 160 298.75 1.00 4.53 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
572.05 3.90 7.76 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
618.65 0.45 3.46 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
677.55 0.20 8.23 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
750.70 1.00 3.26 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
EXP 072 614503 912978 -50 180 229.40 0.20 4.90 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
316.60 2.95 14.09 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
371.80 0.70 24.87 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
390.00 0.50 29.17 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
398.80 1.00 4.67 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
485.20 0.70 16.80 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
488.55 1.35 13.03 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
544.20 1.00 6.67 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
EXP 073 614271 913339 -50 160 443.25 0.80 8.03
-------- ------- ------- -------- -------- --------- --------- -----------
511.15 0.35 3.87 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
556.40 0.30 10.37 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
568.10 0.45 4.39 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
635.10 2.65 6.56 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
780.30 1.45 3.14 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
790.90 0.75 56.64 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
799.75 7.30 7.15 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
862.10 0.20 11.57 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
899.80 0.60 20.46 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
EXP 074 614212 913281 -50 160 164.00 0.65 3.86 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
429.50 0.70 8.03 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
457.40 0.80 8.70 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
487.70 1.05 3.24 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
109.09
519.25 0.25 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
571.20 1.60 13.16 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
586.15 0.25 74.46 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
801.95 1.00 5.90 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
816.70 2.25 5.21 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
EXP 075 614142 913293 -50 160 448.05 0.75 4.09 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
462.20 1.75 3.90 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
EXP 077 614408 912982 -50 180 237.40 1.65 7.35 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
305.35 1.75 3.07 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
313.40 0.35 3.08 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
317.00 0.35 8.08 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
338.90 1.75 4.48 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
469.25 0.70 15.85 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
501.65 0.45 9.13 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
208.73
EXP 079 614559 913379 -50 160 263.30 0.90 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
524.50 0.35 25.30 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
535.10 1.00 4.02 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
677.70 0.20 3.91 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
768.15 0.50 3.78 (*)
-------- ------- ------- -------- -------- --------- --------- -----------
Notes:
(i) Intersection widths are downhole drill widths not true
widths;
(ii) Assays denoted by (*) are by Philsaga Mining Corporation's
laboratory, all other assays are by McPhar Geoservices Inc. in
Manila;
(iii) Grid coordinates based on the Philippine Reference System
92.
ON-GOING DRILL PROGRAMME
It is intended that the six surface rigs will continue
extensional and infill drilling. Four underground drill rigs will
continue operating with a fifth due to be added during the
forthcoming quarter.
Drilling will refocus on the NT series of veins to the west
possibly later this year.
DRILL HOLE SAMPLING AND ASSAYING PROCEDURES
Samples are taken from mainly HQ sized (hole outside diameter 96
mm, hole inside diameter 63.5mm) and some NQ sized (hole outside
diameter 75.8 mm, hole inside diameter 47.6 mm) drill core. The
selected sample intervals are halved by diamond saw and half the
core was bagged, numbered and sent to the Company laboratory. In a
small number of cases to confirm the geological logging, the
selected interval was re-split and [1/4] core re-submitted for
assay.
Initial sample preparation and assaying is undertaken at the
Company's on-site laboratory. Samples are dried at 105 C for 6 to 8
hours, crushed to less than 1.25 cm by jaw crusher, re-crushed to
less than 3 mm using a secondary crusher followed by ring grinding
of 700 to 800 grams of sample to nominal particle size of less than
200 mesh. Barren rock wash is used between samples in the
preparation equipment. The samples are assayed by fire assay with
Atomic Absorption Spectrometer (AAS) finish on a 30 gram sample.
All assays over 5 g/t gold are re-assayed using gravimetric fire
assay techniques on a 30 gram sample.
Check assaying of approximately 50% of samples used in the
yearly resource estimates is undertaken by McPhar Geoservices Phils
Inc ("McPhar"), a NATA and ISO 9001/2000 accredited laboratory in
Manila. The pulps are airfreighted to McPhar who fire assay 30
grams of samples using AAS finish and a selected number of samples
are checked using gravimetric fire assay techniques. Duplicate
samples and standards are included in each batch of check
samples.
When reporting results, where available, the assays of McPhar as
an independent laboratory have been given priority over the Company
laboratory's results.
For further information please contact:
Australia
Medusa Mining Limited +61 8 9367 0601
Peter Hepburn-Brown, Managing
Director
Geoffrey Davis, Non-Executive
Chairman
United Kingdom
Fairfax I.S. PLC +44 (0)20 7598 5368
Financial Adviser and Broker
Ewan Leggat/Laura Littley
Information in this report relating to Exploration Results has
been reviewed and is based on information compiled by Mr Geoff
Davis, who is a member of The Australian Institute of
Geoscientists. Mr Davis is the Chairman of Medusa Mining Limited
and has sufficient experience which is relevant to the style of
mineralisation and type of deposits under consideration and to the
activity which he is undertaking to qualify as a "Competent Person"
as defined in the 2004 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves". Mr Davis consents to the inclusion in the report of the
matters based on his information in the form and context in which
it appears.
DISCLAIMER
This announcement may contain certain forward-looking
statements. The words 'anticipate', 'believe', 'expect', 'project',
'forecast', 'estimate', 'likely', 'intend', 'should', 'could',
'may', 'target', 'plan' and other similar expressions are intended
to identify forward-looking statements. Indications of, and
guidance on, future earnings and financial position and performance
are also forward-looking statements.
Such forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and
other factors, many of which are beyond the control of Medusa, and
its officers, employees, agents and associates, that may cause
actual results to differ materially from those expressed or implied
in such statements.
Actual results, performance or outcomes may differ materially
from any projections and forward-looking statements and the
assumptions on which those assumptions are based.
You should not place undue reliance on forward-looking
statements and neither Medusa nor any of its directors, employees,
servants or agents assume any obligation to update such
information.
Figure 1. Map of the Co-O Mine showing the locations of new
drill holes MD306 to MD308, and EXP 065 to 086
Figure 2. Map of the Co-O Mine showing the location s of the new
underground drill holes
Click on, or paste the following link into your web browser, to
view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/8649J_-2011-7-6.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
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