Lingig Copper Discovery Drilling Results
18 March 2009 - 6:00PM
UK Regulatory
TIDMMML
MEDUSA MINING LIMITED
ABN: 60 099 377 849
Unit 7, 11 Preston Street
Como WA 6152
PO Box 860
Canning Bridge WA 6153
Telephone: +618-9367 0601
Facsimile: +618-9367 0602
Email: admin@medusamining.com.au
Internet: www.medusamining.com.au
LINGIG COPPER DISCOVERY DRILLING RESULTS
Medusa Mining Limited ("Medusa" or the "Company"), through its
Philippines subsidiary, Philsaga Mining Corporation ("Philsaga"),
announces the first summary of available diamond drilling results
from the Lingig Copper Discovery.
Selected available intersections (at 0.1% copper cut-off) include:
+------------------------------------------------+
| Hole Number | Intercepts | Gold | Copper |
| | (metres) | (g/t gold) | (% Cu) |
|-------------+------------+------------+--------|
| LIN 1 | 125.10 | 0.03 | 0.26 |
|-------------+------------+------------+--------|
| LIN 2 | 267.00 | 0.06 | 0.62 |
|-------------+------------+------------+--------|
| LIN 3 | 224.00 | 0.11 | 0.77 |
+------------------------------------------------+
The mineralisation drilled to date is hosted within a 200 to 300
metre thick thrust fault which is interpreted to be linked to a 2km
by 1.5km intensely silica and clay altered, stockworked and
brecciated quartz dacite intrusive complex that is located
approximately 1,200 metres to the south. Some of the deeper creek
exposures within this complex exhibit copper sulphide mineralisation.
Assaying of selected mineralised drillhole material indicates that
the copper mineralisation does not contain detectable levels of
deleterious elements.
Whilst it is very early in the exploration programme, the Company
believes, based on evolving geological interpretations, that this is
potentially a large mineralised copper system.
GEOLOGICAL SETTING
Figure 1 (please see the link at the end of this announcement) shows
the current interpretation of the regional geology and Table 1
contains drill hole results to date. Figure 2 (please see the link
at the end of this announcement) shows a longitudinal projection of
the drilling completed to date and the relevant historical drill
holes.
Comparison with the Atlas Mine on Cebu Island shows there may be some
similarities with the structural setting and styles of
mineralisation. At Atlas, mineralisation is hosted predominantly in
intrusive porphyry rocks at the Biga Barot and Carmen deposits, and
predominantly in volcanic rocks (and associated with some intrusive
and mineralised porphyry sills or dykes) at the Lutopan deposit where
mineralisation is 120 metres thick and 900 metres long. The Biga and
Carmen deposits are located between two steeply dipping regional
scale faults (Bureau of Mines and Geosciences, 1986).
The Atlas deposits, including mined material, have total resources of
1.53 billion tonnes at 0.41% copper and 0.24 g/t gold
(www.atlasphilippines.com).
Mineralised Thrust Zone
Since commencing drilling in June 2008, the Company has completed
approximately 4,000 metres in 8 holes (angle and vertical) using one
drilling rig. Drilling difficulties were experienced in several holes
which led to the premature abandoning of LIN 1 and LIN 4 drillholes.
LIN 4, which was twinned by LIN 5, has not as yet been assayed. LIN 8
has just been completed and assays are awaited.
The mineralisation discovered by a 1974 aid programme in drill hole
DDH 1 (the five DDH aid programme holes are now relabelled as JDH 1
to JDH 5, see the announcement dated 13 November 2007 and the
December 2007 quarterly report for detailed descriptions) has now
been shown to be contained within an extensive east dipping 200 to
300 metre thick thrust zone. The thrust footwall is an unmineralised
quartz diorite which intruded the basaltic sequence (numerous basalt
xenoliths are present near the diorite contact). The intrusive
contact appears to have subsequently become the footwall of the
regional thrust zone. Plate 1 (please see the link at the end of this
announcement) shows the outcropping thrust contact.
The mineralised porphyry intersected in the bottom of the discovery
hole JDH 1 (and subsequently in several new holes) appears to be a
north-plunging or dipping partly mineralised porphyry sill up to
approximately 100 metres thick within the thrust zone. Some chilling
has been noted in places on its contacts. This porphyry sill has also
been found as a west-trending 60 metre long copper mineralised
outcrop approximately 200 metres southeast of holes LIN 2 and LIN 3.
Its full extent, role in mineralisation and degree of mineralisation
are not yet understood.
Within the thrust zone, and to a lesser extent above the thrust,
there is widespread epidote alteration as epidote veins, epidote
quartz-sulphide veins and disseminated epidote clots and disseminated
grains. To date the epidote alteration has been ubiquitous in the
area drilled. Magnetite as disseminations and veins is generally
closely associated with the copper mineralisation.
Sulphide mineralisation within the copper mineralised zone comprises
fairly ubiquitous pyrite up to 10% and lesser copper sulphides
predominantly as chalcopyrite with some chalcocite and minor bornite,
particularly in holes LIN 2 and LIN 3.
Assaying of selected samples from hole LIN 6 indicates that the
mineralising system is clean and does not contain arsenic, mercury or
antimony above detection limits.
Roadways approximately 200 to 300 metres south of LIN 2 and LIN 3
have exposed intensely sulphide (now limonite) veined and
stockworked, argillically weathered basalt indicating that the
mineralisation is likely to extend beyond these outcrops to the
south.
The footwall of the thrust fault is interpreted to extend southwards
at least as far as the quartz dacite intrusive complex.
Mineralisation, possibly within or related to the thrust, located
approximately 1,500 metres south of the current drilling was
intersected by previous drill holes JDH 3 and 5 (Table 1).
Mineralisation controls and trends within the thrust are expected to
become clearer as drilling progresses over the coming months.
Quartz Dacite Porphyry Intrusive Complex
The extensive quartz dacite intrusive complex to the south of the
current drilling covers an area of approximately 2km by 1.5km. In
1996-97 Barrick Gold (Phils) Inc. undertook extensive sampling of
outcropping altered material targeting bulk gold mineralisation. An
old report indicates that 16 outcrop samples returned gold values in
the range from 0.2 to 1.5 g/t gold; however detailed sample location
maps are not available.
Large areas of the complex are brecciated and commonly silicified and
quartz vein stockworked. Many of the silicified rocks are cut by late
fine quartz veining. Sulphides (now limonite) generally comprise 1 to
5% of the silicified rock. Argillic alteration is also present in
some areas.
Other areas of sulphidic milled breccias with approximately 30 to 50%
milled fragments in a 50 to 70% limonite matrix have been observed.
Some deeper creek exposures show common chalcopyrite and lesser
covellite.
A comprehensive programme of outcrop sampling, and in some areas,
soil sampling is in progress.
Work Programme
One drilling rig will continue working along the thrust zone and has
commenced LIN 9 to the south of LIN 2 and 3, and will then work its
way southwards.
It is intended, later in the year, that a second drilling rig will be
added to commence drilling the large potential porphyry copper
target.
Geoff Davis, Managing Director commented:
"These initial results confirm and enhance those of the original 1974
discovery hole. Whilst it is very early in the exploration
programme, the Company believes that this is potentially a large
mineralised copper system. As confidence in the geological model
increases we plan to add additional drill rigs to speed up the
defining of a potential resource."
For further information, please contact:
Medusa Mining Limited +61 8 9367 0601
Geoffrey Davis, Managing Director
Roy Daniel, Finance Director
Fairfax I.S. PLC +44 (0)20 7598 5368
Nominated Adviser / Joint Broker
Ewan Leggat
Mirabaud Securities Limited +44 (0)20 7321 2508
Joint Broker
Peter Krens
Lothbury Financial +44 (0)20 7011 9411
Michael Padley / Libby Moss
Information in this report relating to Exploration results, is based
on information compiled by Mr Geoff Davis, who is a member of The
Australian Institute of Geoscientists. Mr Davis is the Managing
Director of Medusa Mining Limited and has sufficient experience which
is relevant to the style of mineralization 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
"Australian 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.
References:
Barrick Gold (Phils), 1997: Lingig Gold Prospect, Surigao del Sur,
Eastern Mindanao, Philippines (Unpub.)
Bureau of Mines and Geo-sciences,
Ministry of Natural Resources, 1986: Geology and Mineral Resources of
the Philippines, Vol. II, Mineral Resources.
Table I. Summary of new Lingig drilling results and relevant 1974
drilling results for intersections >10 metres wide
(including sub-cut-off grade material up to 10
metres wide).
+-----------------------------------------------------------------------------------------+
|Hole |East |North |Azimuth |Dip | Cut-off 0.1% copper |
| | | | | |------------------------------------------------|
| | | | | | From| To| Width| Grade| Gold|
| | | | | | (metres)| (metres)| (metres)| (% Cu)| (g/t)|
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
|LIN 1 |652072 |896918 |0 |-90 | 71.00| 196.10| 125.10| 0.26 | 0.03 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
|LIN 2 |652075 |896844 |0 |-90 | 2.00| 269.30| 267.30| 0.62 | 0.06 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
|LIN 3 |652075 |896844 |180 |-60 | 0.00| 224.00| 224.00| 0.77 | 0.11 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
|LIN 6 |651994 |897150 |166 |-62 | 94.10| 114.10| 20.00| 0.13 | 0.01 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | 280.40| 294.40| 14.00| 0.14 | 0.01 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | 362.20| 421.60| 59.40| 0.31 | 0.02 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
|JDH 1 |652073 |896908 |0 |-90 | 52.00| 250.00| 198.00| 0.34 | 0.01 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
|JDH 3 |651865 |895926 |0 |-90 | 12.00| 100.00| 88.00| 0.14 | 0.00 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
|JDH 5 |651828 |895648 |0 |-90 | 18.00| 100.00| 82.00| 0.18 | 0.00 |
|------+--------+--------+---------+-----+----------+----------+----------+-------+-------|
| | | | | | 224.00| 242.00| 18.00| 0.15 | 0.00 |
+-----------------------------------------------------------------------------------------+
Notes: (i) Holes LIN 1 and 4 were terminated prematurely due to bad
ground conditions. No assays are
currently available for LIN 4 which was subsequently twinned by LIN
5.
(ii) Assays are awaited for LIN 8.
+------------------------------------------------------------------------------------------+
|Hole |East |North |Azimuth |Dip | Cut-off 0.3% copper |
| | | | | |-------------------------------------------------|
| | | | | | From| To| Width| Grade| Gold|
| | | | | | (metres)| (metres)| (metres)| (% Cu)| (g/t)|
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
|LIN 1 |652072 |896918 |0 |-90 | 118.50| 153.50| 35.00| 0.32 | 0.02 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | 161.50| 196.10| 34.60| 0.35 | 0.04 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
|LIN 2 |652075 |896844 |0 |-90 | 26.00| 240.65| 214.65| 0.72 | 0.07 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | |Including | | | | |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | 132.00| 142.65| 10.00| 1.00 | 0.27 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | 172.00| 240.65| 68.65| 1.03 | 0.08 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
|LIN 3 |652075 |896844 |180 |-60 | 10.00| 222.00| 212.00| 0.80 | 0.07 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | |Including | | | | |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | 68.00| 146.00| 78.00| 1.16 | 0.21 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | 180.00| 190.00| 10.00| 1.02 | 0.06 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | 206.00| 218.00| 12.00| 0.98 | 0.20 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
|LIN 6 |651994 |897150 |166 |-62 | 364.20| 400.20| 36.00| 0.37 | 0.03 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | | | | | |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
|JDH 1 |652073 |896908 |0 |-90 | 100.00| 112.00| 12.00| 0.43 | 0.00 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | 134.00| 146.00| 12.00| 0.40 | 0.00 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | 200.00| 250.00| 50.00| 0.67 | 0.04 |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
|JDH 3 |651865 |895926 |0 |-90 | | | | | |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
|JDH 5 |651828 |895648 |0 |-90 | | | | | |
|------+--------+--------+---------+-----+-----------+----------+----------+-------+-------|
| | | | | | | | | | |
+------------------------------------------------------------------------------------------+
=--END OF MESSAGE---
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