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Additional Information
Market: AIM / ASX : TSX
Sector: Gold Mining
Epic: MML
News: Latest news
Web Site: Medusa Mining
Other Articles: 16-03-201016-03-201008-03-2010

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Thursday March 18, 08:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

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Thursday March 18, 01:14Cisco remains at the forefront of internet infrastructure

The stock has recently managed to breakout above the long term resistance found at the $25 level which should now provide support for any pullback before the share price drives higher

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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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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Tuesday, August 12, 2008

Medusa Mining increases gold resource to 0.862 million ounces

Medusa Mining, the owner and operator of the Co-O Gold Mine in the Philippines, announced a 17% increase in its JORC compliant resources to 0.862 million ounces with an average grade of 10.72 grams per tonne gold.

The resource update is part of a wider resource definition and exploration drilling program at the Co-O Mine in advance of an increase in gold production to 100,000 ounces of gold per annum by 2010.

Medusa stated that the high grade nature of the gold veins, and uniformity, that it would also be reporting future resources with a zero grams per tonne gold cut-off grade, as only 2.7% of the total resource fell between zero and three grams per tonne gold. Medusa also added that additional drilling at the western fringe of the deposit required further infill drilling before it could be included in the resource.

The new resource estimate as of 21 July 2008 is 2.5 million tonnes of indicated and inferred resources grading a combined 10.72 grams per tonne gold for 0.862 million ounces of gold using a zero grams per tonne gold cut-off.



Geoff Davis, Managing Director Medusa Mining, summarised:

"The resource statement extends the deposit to in excess of one million ounces including past production and we are very optimistic that this figure will be further increased by the on-going drill programme.

"The grade of the deposit continues to be maintained, and with the discovery of new mineralisation in new orientations, in conjunction with advancing geological knowledge, these factors all highlight the potential to increase the deposit size in the future."

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