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MML Medusa Mining

97.50
0.00 (0.00%)
15 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Medusa Mining LSE:MML London Ordinary Share AU000000MML0 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 97.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Medusa Mining Limited Co-O Drilling Update (3687Y)

21/02/2013 7:01am

UK Regulatory


Medusa (LSE:MML)
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From Jul 2019 to Jul 2024

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RNS Number : 3687Y

Medusa Mining Limited

21 February 2013

Medusa Mining Limited

("Medusa" or the "Company")

(ASX & LSE: MML)

Co-O DRILLING UPDATE

21 February 2013

Medusa Mining Limited ("Medusa" or the "Company"), through its Philippines operating company Philsaga Mining Corporation, announces an update of the Co-O Mine surface and underground drilling completed from 30 June 2012 to 28 January 2013.

Highlights include:

 
 Hole Number    Width                 Grade (uncut) 
                 (down hole metres)    (g/t gold) 
 L5-20W-008     2.75                  14.94 
 L5-42E-018     3.00                  19.08 
 L5-42E-021     1.20                  749.88 
 L5-42E-022     2.30                  19.25 
 L6-13E-033     4.80                  26.28 
 EXP 175        1.45                  21.97 
 EXP 177        2.55                  10.85 
 EXP 178        1.70                  30.25 
 

Surface drilling since 30 June 2012 continues to provide resource infill and extension information for mine planning to the east and west of the Oriental Fault. Drilling west of the Tinago Fault has consistently intersected veins with some indications that grades in places may be increasing at depth although to date the grades in the upper levels have been generally below 3g/t gold.

Underground drilling continues to confirm vein continuity and is providing additional information on vein splits and new veins not intersected by surface drilling.

Peter Hepburn-Brown, Managing Director of Medusa, commented:

"The Co-O Mine drilling continues to deliver high grade intersections over a strike length of approximately two kilometres and at depth. The drilling indicates the vein system appears to be weakening to the west of the Tinago Fault particularly near surface with the possibility of some higher high grades at depth. Elsewhere drilling continues to return good values from infill and extensional drilling.

Drilling is continuing with four surface and three underground rigs.The next resource update will be in the September quarter of 2013."

Co-O MINE DRILLING

Discussion

This report lists the surface and underground drill holes with new assay results returned from 30 June 2012 to 20 January 2013.

Previous detailed drilling reports for Co-O Mine are available on the Company's website.

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 cross-cutting fault direction (and perpendicular to the strike of the veins) and rarely intersects the faults, which are subsequently identified by underground on-vein development or underground drilling.

It should also be emphasised that drilling of vein systems rarely provides ore-grade intersections in every intersection in a vein. A recent statistical assessment of the percentage of ore-grade drill hole intersections required in each vein to indicate the vein will be mineable shows that 3 to 5 holes out of every 10 holes is required to intersect ore grades. This is consistent with other large vein systems in the Eastern Goldfields of Western Australia.

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

Figure 1 (attached) shows the locations of the recently completed and in progress surface drill holes EXP176 to EXP225. Completed holes comprise 50 holes for a total of 35,989 metres.

Table I shows the results >= 3 g/t gold over >=0.2 metres for previous holes EXP154, EXP161, EXP163 and EXP165 to EXP175 and new holes EXP176 to EXP225. The locations of the previous holes were shown in the announcement of 9 July 2012.

Figure 2 (attached) shows the locations of the recently completed underground drill holes totalling 8,147 metres in 40 holes. Table II lists underground drill hole results >= 3 g/t gold over >= 0.2 metres received since 30 June 2012 as well as some previously completed holes whose locations were shown on Figure 2 in the announcement dated 9 July 2012.

Table I. Surface drill hole results >=3 g/t gold and >=0.2 metres downhole for previously completed holes EXP154, EXP161,EXP163 and EXP165 to EXP175 and new holes EXP176 to EXP225.

 
 Hole          East        North    End of           Dip        Azimuth     From          Width         Grade 
  number                             Hole (metres)    (deg)      (deg)       (metres)      (metres)     (uncut) 
                                                                                                        (g/t gold) 
------------  ----------  -------  ---------------  ---------  ----------  ------------  ------------  ----------- 
  EXP163           614842   913100       800.10           -55       180         764.15        1.45      3.13* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
                                                                                771.45        0.85      11.14* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP166           615060   913098       605.10           -55       180         505.15        0.20      13.77* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP167           613342   913144       599.10           -50       180         469.70        0.30      3,97* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP170           613251   913109       501.10           -50       180         127.10        1.00      3.26* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP172           614711   913081       994.60           -64       180         364.30        1.00      4.55* 
                                                                               ------------  --------  ----------- 
                                                                                514.75        0.30      10.40* 
                                                                               ------------  --------  ----------- 
                                                                                745.90        1.00      4.82* 
                                                                               ------------  --------  ----------- 
                                                                                836.40        0.40      12.63* 
                                                                               ------------  --------  ----------- 
                                                                                897.80        1.35      8.31* 
                                                                               ------------  --------  ----------- 
                                                                                911.55        0.20      4.87* 
                                                                               ------------  --------  ----------- 
                                                                                917.55        2.00      4.59* 
                                                                               ------------  --------  ----------- 
                                                                                935.70        0.45      69.10* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP173           614798   913152       800.00           -60       180         309.50        0.80      3.31* 
                                                                               ------------  --------  ----------- 
                                                                                429.60        2.45      6.83* 
                                                                               ------------  --------  ----------- 
                                                                                510.50        1.00      4.60* 
                                                                               ------------  --------  ----------- 
                                                                                540.10        0.50      20.10* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP174           614898   913255       707.10           -62       180         447.20        1.50      9.31* 
                                                                               ------------  --------  ----------- 
                                                                                480.95        0.35      7.07* 
                                                                               ------------  --------  ----------- 
                                                                                512.80        6.40      4.72* 
                                                                               ------------  --------  ----------- 
                                                                                550.15        0.35      18.71* 
                                                                               ------------  --------  ----------- 
                                                                                558.60        0.50      11.15* 
                                                                               ------------  --------  ----------- 
                                                                                590.90        0.30      24.72* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP175           614545   913270       1,004.10         -63       180         222.15        1.05      4.67* 
                                                                               ------------  --------  ----------- 
                                                                                450.60        1.20      5.29* 
                                                                               ------------  --------  ----------- 
                                                                                593.35        1.45      21.97* 
                                                                               ------------  --------  ----------- 
                                                                                654.45        1.65      3.34* 
                                                                               ------------  --------  ----------- 
                                                                                954.05        0.25      5.03* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP176           613331   913150       551.10           -61       180         184.40        1.25      4.35* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP177           614756   913168       809.10           -60       180         323.55        0.95      4.78* 
                                                                               ------------  --------  ----------- 
                                                                                392.20        0.20      4.83* 
                                                                               ------------  --------  ----------- 
                                                                                395.50        1.30      4.04* 
                                                                               ------------  --------  ----------- 
                                                                                406.50        3.70      3.27* 
                                                                               ------------  --------  ----------- 
                                                                                416.15        1.00      6.33* 
                                                                               ------------  --------  ----------- 
                                                                                419.75        0.20      3.28* 
                                                                               ------------  --------  ----------- 
                                                                                426.05        2.55      10.85* 
                                                                               ------------  --------  ----------- 
                                                                                431.60        2.60      5.62* 
                                                                               ------------  --------  ----------- 
                                                                                461.75        0.25      27.97* 
                                                                               ------------  --------  ----------- 
                                                                                516.35        1.50      3.59* 
                                                                               ------------  --------  ----------- 
                                                                                557.30        0.20      4.29* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP178           614733   913224       815.10           -60       180         396.20        0.20      3.58* 
                                                                               ------------  --------  ----------- 
                                                                                454.00        1.70      30.25* 
                                                                               ------------  --------  ----------- 
                                                                                494.55        0.50      5.23* 
                                                                               ------------  --------  ----------- 
                                                                                506.30        1.00      10.50* 
                                                                               ------------  --------  ----------- 
                                                                                510.60        0.60      30.07* 
                                                                               ------------  --------  ----------- 
                                                                                521.20        0.25      14.07* 
                                                                               ------------  --------  ----------- 
                                                                                531.20        4.30      4.86* 
                                                                               ------------  --------  ----------- 
                                                                                761.10        0.45      5.47* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP181           613555   913087       92.60            -50       180         71.40         0.60      4.03* 
                                                                               ------------  --------  ----------- 
                                                                                79.70         1.00      3.47* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP182           614557   913335       1,040.10         -62       180         984.50        0.45      4.33* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
 
 
 
 Hole          East        North    End of           Dip        Azimuth     From          Width         Grade 
  number                             Hole (metres)    (deg)      (deg)       (metres)      (metres)     (uncut) 
                                                                                                        (g/t gold) 
------------  ----------  -------  ---------------  ---------  ----------  ------------  ------------  ----------- 
  EXP184           613451   913197       716.10           -50       180         92.80         1.20      3.68* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP191           614600   913386       983.10           -55       180         158.40        0.40      3.13* 
                                                                               ------------  --------  ----------- 
                                                                                929.20        2.60      6.83* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP192           614552   913376       989.10           -62       180         106.40        4.00      16.26* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP194           613450   913197       935.10           -60       180         582.60        0.60      4.55* 
                                                                               ------------  --------  ----------- 
                                                                                639.60        6.00      3.55* 
                                                                               ------------  --------  ----------- 
                                                                                824.45        1.00      13.98* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP195           614695   913409       1,100.10         -57       180         100.40        0.20      10.17* 
                                                                               ------------  --------  ----------- 
                                                                                153.60        2.00      3.98* 
                                                                               ------------  --------  ----------- 
                                                                                346.55        1.25      6.37* 
                                                                               ------------  --------  ----------- 
                                                                                349.80        2.00      3.75* 
                                                                               ------------  --------  ----------- 
                                                                                429.60        1.00      5.70* 
                                                                               ------------  --------  ----------- 
                                                                                586.10        1.00      5.93* 
                                                                               ------------  --------  ----------- 
                                                                                608.10        1.20      4.90* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP197           613560   913094       101.70           -50       180         19.00         1.70      13.21* 
                                                                               ------------  --------  ----------- 
                                                                                99.40         1.20      3.11* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP199           613561   913098       101.90           -50       180         97.95         2.75      5.69* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP201           614948   913350       863.10           -51       180         530.35        0.85      7.49* 
                                                                               ------------  --------  ----------- 
                                                                                609.95        2.15      4.01* 
                                                                               ------------  --------  ----------- 
                                                                                671.80        0.20      18.73* 
                                                                               ------------  --------  ----------- 
                                                                                677.80        1.30      10.75* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP204           614901   913407       803.10           -57       180         630.25        1.00      6.80* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP205           613500   913286       704.10           -45       180         173.45        0.35      4.46* 
                                                                               ------------  --------  ----------- 
                                                                                275.95        0.35      6.93* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP206           613701   913346       878.10           -51       180         847.60        2.05      3.13* 
                                                                               ------------  --------  ----------- 
                                                                                851.00        0.30      4.53* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP207           615001   913398       704.10           -50       180         675.20        0.30      3.87* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP211           615098   913402       668.10           -50       180         604.05        1.40      3.98* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP219           614840   913421       1,066.10         -45       180         593.15        1.20      10.96* 
                                                                               ------------  --------  ----------- 
                                                                                596.45        0.20      5.17* 
                                                                               ------------  --------  ----------- 
                                                                                605.50        0.20      9.10* 
                                                                               ------------  --------  ----------- 
                                                                                633.00        0.20      3.68* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP222           613551   913306       908.10           -50       180         131.30        3.40      19.81* 
                                                                               ------------  --------  ----------- 
                                                                                803.65        0.60      19.60* 
                                                                               ------------  --------  ----------- 
                                                                                805.70        4.40      4.15* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
  EXP225           614100   913254       800.10           -50       180         496.95        0.35      9.60* 
 -----------      -------  -----------  ---------------  --------  ----------  ------------  --------  ----------- 
 
 

Notes:

(i) Intersection widths are downhole drill widths not true widths

(ii) Assays denoted by (*) are by Philsaga Mining Corporation's laboratory.

(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 for new holes and previously completed holes designated .

 
 Hole number    East         North       End of         Dip       Azimuth     From          Width         Grade 
                                         Hole            (deg)     (deg)       (metres)      (metres)     (uncut) 
                                         (metres)                                                         (g/t gold) 
-------------  -----------  ----------  -------------  --------  ----------  ------------  ------------  ----------- 
     LEVEL 
      1 
  L1-69W-015          613284     912929      111.20         3         214         61.40         0.20      10.08* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
     LEVEL 
      2 
  L2-2E-002           614001     912884      102.90         3         169         18.90         1.20      4.46* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L2-2E-005           614002     912890      93.10          3         11          66.90         0.70      17.83* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L2-2E-006           614003     912889      110.40         3         42          16.00         0.50      178.15* 
                                                                                 ------------  --------  -------------- 
                                                                                  57.60         0.50      5.47* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L2-10W-002          613919     913145      92.40          3         294         64.00         0.90      4.55* 
                                                                                 ------------  --------  -------------- 
     LEVEL 
      5 
  L5-20W-008          613919     913145      92.40          3         328         2.00          1.00      8.87* 
                                                                                 ------------  --------  -------------- 
                                                                                  150.85        2.75      14.94* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-20W-009          613762     912854      356.80         -32       152         2.40          1.30      12.59* 
                                                                                 ------------  --------  -------------- 
                                                                                  213.20        0.30      9.27* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-20W-010          613763     912854      353.30         -30       148         2.20          2.30      12.36* 
                                                                                 ------------  --------  -------------- 
                                                                                  131.80        0.30      3.67* 
                                                                                 ------------  --------  -------------- 
                                                                                  227.35        0.45      3.53* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-20W-011          613763     912854      326.50         -50       140         3.30          1.60      5.92* 
                                                                                 ------------  --------  -------------- 
                                                                                  107.50        0.50      19.3* 
                                                                                 ------------  --------  -------------- 
                                                                                  112.45        2.80      3.39* 
                                                                                 ------------  --------  -------------- 
                                                                                  170.20        0.30      3.36* 
                                                                                 ------------  --------  -------------- 
                                                                                  212.45        3.80      7.13* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-35W-107          613608     912813      294.50         0         134         1.23          0.37      6.10* 
                                                                                 ------------  --------  -------------- 
                                                                                  30.52         0.33      15.20* 
                                                                                 ------------  --------  -------------- 
                                                                                  54.85         0.20      88.40* 
                                                                                 ------------  --------  -------------- 
                                                                                  62.50         0.25      20.99* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-42E-016          614380     912691      435.10         -23       324         125.30        0.30      3.08* 
                                                                                 ------------  --------  -------------- 
                                                                                  179.25        0.50      7.17* 
                                                                                 ------------  --------  -------------- 
                                                                                  185.25        1.00      3.13* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-42E-017          614381     912691      404.80         -32       332         18.60         0.30      16.07* 
                                                                                 ------------  --------  -------------- 
                                                                                  139.55        1.30      27.62* 
                                                                                 ------------  --------  -------------- 
                                                                                  156.00        0.20      7.33* 
                                                                                 ------------  --------  -------------- 
                                                                                  159.90        0.50      8.28* 
                                                                                 ------------  --------  -------------- 
                                                                                  187.50        3.50      3.89* 
                                                                                 ------------  --------  -------------- 
                                                                                  197.60        1.20      16.55* 
                                                                                 ------------  --------  -------------- 
                                                                                  341.80        2.00      12.15* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-42E-018          614382     912691      378.00         -23       359         84.90         0.55      8.30* 
                                                                                 ------------  --------  -------------- 
                                                                                  109.60        1.90      7.94* 
                                                                                 ------------  --------  -------------- 
                                                                                  243.40        1.15      4.72* 
                                                                                 ------------  --------  -------------- 
                                                                                  271.60        3.00      19.08* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-42E-019          614383     912691      401.60         -23       14          93.10         1.55      6.41* 
                                                                                 ------------  --------  -------------- 
                                                                                  356.00        3.80      11.75* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
  L5-42E-020          614384     912691      376.50         -23       26          88.20         0.50      32.93* 
                                                                                 ------------  --------  -------------- 
                                                                                  126.90        0.20      7.12* 
                                                                                 ------------  --------  -------------- 
                                                                                  136.65        0.95      8.17* 
                                                                                 ------------  --------  -------------- 
                                                                                  253.30        0.30      10.90* 
                                                                                 ------------  --------  -------------- 
                                                                                  293.50        0.50      13.03* 
 ---------------     ---------  ----------  -------------  --------  ----------  ------------  --------  -------------- 
 
 
 
 Hole number        East     North    End of        Dip        Azimuth     From          Width         Grade 
                                       Hole          (deg)      (deg)       (metres)      (metres)     (uncut) 
                                       (metres)                                                        (g/t gold) 
-----------------  -------  -------  ------------  ---------  ----------  ------------  ------------  ----------- 
      LEVEL 
       5 
  L5-42E-021         614385   912690      399.40        -23        29          38.80         0.40      3.22* 
                                                                              ------------  --------  ----------- 
                                                                               60.10         0.40      20.40* 
                                                                              ------------  --------  ----------- 
                                                                               87.00         0.40      8.60* 
                                                                              ------------  --------  ----------- 
                                                                               131.10        1.20      749.88* 
                                                                              ------------  --------  ----------- 
                                                                               161.65        2.25      12.74* 
                                                                              ------------  --------  ----------- 
                                                                               278.55        3.65      11.33* 
                                                                              ------------  --------  ----------- 
                                                                               295.20        0.80      4.72* 
 -------------      -------  ----------  ------------  ---------  ----------  ------------  --------  ----------- 
  L5-42E-022         614377   912690      404.40        -43        305         147.60        1.40      13.19* 
                                                                              ------------  --------  ----------- 
                                                                               156.00        1.00      4.55* 
                                                                              ------------  --------  ----------- 
                                                                               179.05        1.00      4.04* 
                                                                              ------------  --------  ----------- 
                                                                               228.00        2.30      19.25* 
 -------------      -------  ----------  ------------  ---------  ----------  ------------  --------  ----------- 
  L5-42E-023         614378   912690      428.00        -43        309         412.55        0.35      5.63* 
 -------------      -------  ----------  ------------  ---------  ----------  ------------  --------  ----------- 
  L5-42E-024         614379   912691      425.40        -43        316         38.30           0.40    28.10* 
                                                                              ------------  --------  ----------- 
                                                                               143.95        0.70      3.36* 
                                                                              ------------  --------  ----------- 
                                                                               186.60        0.30      5.00* 
 -------------      -------  ----------  ------------  ---------  ----------  ------------  --------  ----------- 
  L5-42E-025         614380   912691      379.00        -43        328         32.60         0.40      20.07* 
                                                                              ------------  --------  ----------- 
                                                                               75.35         0.75      12.56* 
 -------------      -------  ----------  ------------  ---------  ----------  ------------  --------  ----------- 
      LEVEL 
       6 
  L6-13E-001         614187   912929      121.20        3          28          33.80         1.00      10.70* 
                                                                              ------------  --------  ----------- 
                                                                               69.15         0.35      3.73* 
                                                                              ------------  --------  ----------- 
                                                                               88.00         0.60      4.64* 
 -------------      -------  ----------  ------------  ---------  ----------  ------------  --------  ----------- 
  L6-23E-033         614207   912726      110.80        0          225         8.40          4.80      26.28* 
 -------------      -------  ----------  ------------  ---------  ----------  ------------  --------  ----------- 
  L6-23E-034         614213   912726      111.00        0          113         20.50         0.20      97.23* 
 -------------      -------  ----------  ------------  ---------  ----------  ------------  --------  ----------- 
 
 

Notes:

(i) Intersection widths are downhole drill widths not true widths;

(ii) Assays denoted by (*) are by Philsaga Mining Corporation's laboratory.

(iii) Grid co-ordinates based on the Philippine Reference System 92.

DRILL HOLE SAMPLING AND ASSAYING PROCEDURES

Samples are taken from mainly HQ sized (hole outside diameter 96 mm, hole inside diameter 63.5 mm) 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 is 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 10 to 16 hours, crushed to less than 1.25 cm by jaw crusher, re-crushed to less than 50 mm using a secondary crusher followed by ring grinding of 1 kilogram of sample to nominal particle size of less than 200 mesh. Barren rock wash is used after every five 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. Duplicate samples are inserted every 10 samples and standard samples are included in every sample batch.

Please see link at the end of this announcement to view Firgures 1 & 2:

Figure 1. Map of the Co-O Mine Level 6 plan showing the locations of new drill holes EXP176 to EXP225

Figure 2. Map of the Co-O Mine Level 6 plan showing the locations of the new underground drill holes

For further information please contact:

 
 Australia 
 Medusa Mining Limited                                +61 8 9367 0601 
 Peter Hepburn-Brown, Managing Director 
 United Kingdom 
 SP Angel Corporate Finance LLP (Financial Adviser 
  & Broker)                                           +44 (0)20 3463 2260 
 Ewan Leggat/Laura Littley 
 

JORC COMPLIANCE - CONSENT OF COMPETENT PERSONS

Medusa Mining Limited

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 Non-Executive 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 report contains 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.

To view the figures, please click on or paste the following link in your browser:

http://www.rns-pdf.londonstockexchange.com/rns/3687Y_-2013-2-21.pdf

This information is provided by RNS

The company news service from the London Stock Exchange

END

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