Proactive investorsLogo Proactive Investors UK Website

Search field
Get Adobe Flash Player Download
Flash
Player ►

And
Enable
Javascript

1 year chart

digital-look imported chart image

1 day chart

digital-look imported chart image
Additional information
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

RSS - Subscribe to the News Today on Proactive UK ▼

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.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive NA ▼

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

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

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 [...]

FULL ARTICLE ►
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.

CLICK HERE FOR FULL ANALYSIS OF MEDUSA MINING
Wednesday, July 01, 2009

Medusa Mining increases gold resource at Co-0 Mine to 1.38 million ounces

company news image

More positive news from Medusa Mining, the ASX and AIM listed gold producer operating the Co-0 underground gold mine in the Philippines.

Today the a company announced a revised JORC compliant resource statement for the mine, based on ongoing infill and exploration drilling of the vein system to both boost the confidence of the resource and extend the system along strike and at depth, ahead of the completion of a Phase I expansion to increase production to 60,000 ounces of gold per annum, and a further ramp up to 100,000 ounces of gold per annum from a Phase II development.  

The resource increased by 15% to 1.38 million ounces of gold at 10.8 grams per tonne gold, an increase of 60% in 12 months.  The indicated gold resource increased by 25.6% to 1.25 million tonnes at 15 grams per tonne (603,000 ounces) while the inferred category climbed to 2.73 million tonnes at 8.9 grams per tonne gold (777,000 ounces).

Geoff Davis, Managing Director of Medusa, commented: "The continuing growth of the Co-O Mine resource at a very robust gold grade testifies the quality of this asset. We expect resource growth to continue, especially to the east as more drilling is undertaken. This work will focus primarily on extending Co-O's shallower resources where mine infrastructure can be expanded at low capital costs. In addition drilling will focus on nearby vein systems where there is the real opportunity to make new discoveries."

51 drill holes were completed since the previous resource estimate, and this new resource included data from the East Agsao Vein.

“Resource drilling is continuing with the aim of defining several poorly defined veins within the mine area, to expand the resources to the east and to undertake first pass drilling on other vein systems
adjacent to the Co-O Mine,” the company added.

AddThis Feed Button
Register here to be notified of Proactiveinvestors One2One Forums.

Other Medusa Mining articles


Other Medusa Mining news

More news ►

Investors interested in Medusa Mining recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.