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Additional Information
Market: AIM / ASX : TSX
Sector: Gold Mining
Epic: MML
News: Latest news
Web Site: Medusa Mining
Other Articles: 24-02-201021-01-201019-01-2010

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Friday March 12, 08:50Baobab Resources resumes drilling at Tete iron-vanadium-titanium project

Shares in the company were lifted by the news it started a 12,000 metres scout drilling campaign at its project in Mozambique, with constant updates expected in the next few months.

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Friday March 12, 07:58Lithium and rare earths markets poised for growth

Right now, the world relies almost completely on China for its rare-earth supply. The Chinese have made it clear that they want to keep more supply for themselves as they try to be the world leader in green technology

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Friday March 12, 07:51White Energy enters coal deal with China Guodian Group

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading [...]

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Medusa Mining

Medusa Mining

Medusa is an expanding gold producer in the Philippines, listed on the Australian Stock Exchange (ASX;MML), London AIM (AIM: MML) and Toronto Stock Exchange (TSX: MLL) markets. With an expanding resource base now at 1.2million ounces at 13.3g/t gold and production on track to achieve 60,000 ounces annualised in Q3 09 and 100,000 ounces annualised early 2010, it is anticipated that long term cash costs will be approximately US$200/ounce. Numerous new discoveries of gold and copper-gold are anticipated in the future within the large regional tenement package totalling 820km². The operations are an integral part of the local communities.

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Friday, May 29, 2009

Medusa Mining encouraged by scout drilling results at Kamarangan copper anomaly

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Medusa Mining (AIM & ASX: MML) announced that it had completed ten scout drill holes totalling 5,423 metres over part of the Kamarangan aeromagnetic anomaly. The anomaly is approximately ten kilometres in diameter with outcropping copper-gold mineralised magnetite skarn rocks.  Kamarangas is part of the Tambis project which operated under a Mining Agreement with Philex Gold Philippines.


Drilling was focused on the western edge of a buried "fertile" diorite intrusive containing primary copper-molybdenum mineralisation.

Medusa noted that the centre of the prospect, an elliptical deep seated magnetic anomaly, had been tentatively interpreted as a possible "pencil" porphyry-style target.


Geoff Davis, Managing Director of Medusa, said the results were very encouraging:

"These initial results for copper, gold and molybdenum are very encouraging and confirm that the previously identified regional-scale features may be linked to a potentially major mineralised porphyry system.  Further drilling will be conducted to follow-up these strong indications.  The first two holes drilled last summer reported 11 metres at 0.50 g/t gold and 0.66% copper and 29 metres at 0.15% copper with 3.2 metres at 1.49g/t gold and, 0.52% copper whilst highlights from the more recent drilling include 16 metres at 0.43g/t gold and 0.59% copper, 24 metres at 0.64g/t gold and 0.12% copper and 2 metres at 7.21g/t gold."

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