Co-O Mine Drilling Update
22 June 2009 - 4:00PM
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
22 June 2009
Co-O MINE DRILLING UPDATE
Medusa Mining Limited ("Medusa" or the "Company"), through its
Philippines operating company Philsaga Mining Corporation
("Philsaga"), announces an update of drilling results for holes MD
114 to MD 165 from the Co-O Mine subsequent to the announcement of 1
December 2008. High grade extensions have been intersected to the
east of the Co-O Mine extending the vein system to around 1,400
metres long.
These results will be incorporated into a new resource estimate due
in July 2009.
Highlights include:
+---------------------------------------+
| Hole Number | Intercepts | Grade |
| | (metres) | (g/t gold) |
|-------------+------------+------------|
| MD 125 | 1.15 | 167.63 |
|-------------+------------+------------|
| MD 126 | 1.50 | 140.52 |
|-------------+------------+------------|
| MD 130 | 1.30 | 33.86 * |
|-------------+------------+------------|
| MD 132 | 0.95 | 52.18 |
|-------------+------------+------------|
| MD 133 | 1.00 | 40.94 |
|-------------+------------+------------|
| MD 134 | 2.60 | 56.08 * |
|-------------+------------+------------|
| MD 138 | 1.05 | 26.93 |
|-------------+------------+------------|
| MD 139 | 1.50 | 19.08 * |
|-------------+------------+------------|
| MD 146 | 0.50 | 100.27 * |
|-------------+------------+------------|
| MD 148 | 1.65 | 32.73 |
|-------------+------------+------------|
| MD 153 | 2.30 | 12.13 * |
|-------------+------------+------------|
| MD 156 | 2.85 | 19.63 * |
|-------------+------------+------------|
| MD 158 | 3.05 | 18.76 |
+---------------------------------------+
* Intersection east of Agsao River
Discussion
Figure 1 (please see the link at the end of this announcement) shows
all the diamond drill holes from MD 114 to MD 165 totalling 28,985
metres which have been completed around the Co-O Mine since 1
December 2008.
The recent programme has concentrated on infill and extensional (up
and down dip, and laterally) drilling within the current resource
model which allows us to firm up the model. In addition, extensional
drilling to the east of the Agsao River for continuation of the veins
has commenced and is providing good initial results. The drilling
east of the Agsao River has been deep to date to ensure intersections
are achieved and to demonstrate that the veins are present. Shallower
drilling will also be conducted to ascertain the top of the
mineralisation.
Drill results
Table I lists the surface diamond drilling results greater than 3 g/t
gold from the Co-O Mine for drill holes from MD 114 to MD 165. These
drill hole results are the accepted results that will be incorporated
into the new resource estimate due in July 2009. Other reports
containing intersections for holes numbered below MD 114 in 2008 are
dated 1 December and 11 August 2008. In 2007 the announcements are
dated 9 July, 15 May and 28 February. The 2007 announcements also
contain information regarding drilling and surveying techniques,
comments on vein interpretation and methodologies and assaying
protocols.
Results down to 0.2 metres wide are reported as underground
development shows that in many cases as 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 the vein continuity. Most drilling is
sub-parallel to the fault direction and rarely intersects the faults,
which are subsequently identified by underground on-vein development.
Table I. Drill hole results >3 g/t gold and >0.2 metres downhole for
holes MD 114 to MD 165.
+-------------------------------------------------------------------------+
| | | | | | | | Grade |
|Hole | East | North | Dip | Azimuth | From | Width | (uncut) |
| | | | (*) | (*) | (metres) | (metres) | (g/t |
| | | | | | | | gold) |
|-------+--------+--------+-----+---------+----------+----------+---------|
|EAST of| | | | | | | |
|AGSAO | | | | | | | |
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 127 | 614352| 912938| -45| 160| 243.45| 0.30| 26.13|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 362.70| 1.00| 25.14|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 448.10| 0.65| 5.23|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 130 | 614426| 912939| -57| 157| 332.60| 0.60| 4.07|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 422.70| 0.75| 6.03|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 587.45| 0.25| 7.53|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 597.90| 1.30| 33.86|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 604.70| 0.70| 9.23|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 134 | 614450| 912991| -60| 159| 442.30| 2.60| 56.08|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 620.00| 1.00| 3.27|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 636.00| 1.75| 5.00|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 725.05| 0.25| 14.87|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 139 | 614426| 912941| -60| 185| 225.95| 0.30| 8.92|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 355.40| 1.30| 5.18|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 382.40| 1.50| 19.08|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 386.35| 0.30| 6.12|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 399.75| 0.50| 8.83|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 487.30| 0.25| 44.67|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 145 | 614351| 912939| -62| 159| 204.55| 0.25| 3.38|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 208.90| 0.45| 18.13|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 325.75| 0.65| 4.61|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 593.45| 0.30| 22.40|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 609.65| 0.20| 4.60|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 146 | 614432| 912959| -58| 158| 328.35| 0.50| 100.27|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 153 | 614450| 912994| -64| 159| 338.35| 0.20| 14.61|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 380.70| 0.25| 105.02|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 388.40| 0.20| 14.20|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 403.80| 0.35| 54.89|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 478.05| 2.30| 12.13|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 500.90| 1.00| 3.77|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 635.75| 0.2| 3.60|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 668.60| 1.35| 3.77|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 775.40| 1.00| 3.36|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 156 | 614512| 912991| -60| 158| 678.95| 2.85| 19.63|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 163 | 614351| 912939| -45| 165| 325.15| 0.85| 5.37|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 303.50| 0.35| 5.37|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 498.45| 1.95| 4.11|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 165 | 614627| 912956| -59| 166| 514.20| 2.30| 3.04|
|-------+--------+--------+-----+---------+----------+----------+---------|
|WEST of| | | | | | | |
|AGSAO | | | | | | | |
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 115 | 613935| 913000| -77| 190| 51.20| 0.60| 4.05|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 141.85| 0.35| 7.19|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 194.30| 0.30| 14.93|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 198.40| 1.40| 3.82|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 283.35| 0.50| 3.84|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 332.35| 0.80| 3.06|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 347.35| 4.85| 3.91|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 509.40| 0.40| 3.03|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 116 | 613238| 912894| -50| 158| 137.60| 0.25| 27.93|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 118 | 613844| 912883| -69| 180| 242.20| 0.70| 14.70|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 321.40| 1.00| 3.09|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 119 | 613239| 912901| -67| 163| 171.40| 1.70| 10.34|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 120 | 614127| 912738| | | 246.90| 1.30| 16.54|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 121 | 613935| 913001| -73| 193| 76.00| 0.20| 4.43|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 95.65| 0.75| 13.53|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 161.80| 1.50| 3.13|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 124 | 613386| 912864| -79| 180| 136.50| 1.60| 16.13|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 198.75| 0.25| 9.87|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 294.80| 0.20| 3.09|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 125 | 613766| 912844| -77| 180| 69.35| 0.20| 6.61|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 169.70| 0.20| 3.72|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 232.95| 0.30| 6.60|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 267.60| 1.20| 7.95|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 452.95| 1.15| 167.63|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 126 | 614116| 912750| -72| 159| 253.60| 1.50| 140.52|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 348.95| 0.70| 3.02|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 129 | 614091| 912783| -63| 205| 238.55| 0.25| 3.44|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 131 | 613720| 912874| -72| 180| 239.10| 2.35| 6.23|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 287.80| 0.70| 5.12|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 336.65| 0.35| 4.23|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 341.70| 1.75| 11.35|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 346.10| 1.50| 7.72|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 355.80| 0.65| 3.07|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 445.60| 4.50| 7.50|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 132 | 613403| 912867| -52| 150| 116.05| 0.30| 55.97|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 188.50| 0.20| 26.87|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 206.10| 0.95| 52.18|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 208.30| 2.50| 9.55|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 133 | 613532| 912849| -77| 196| 68.35| 1.00| 40.94|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 132.55| 0.35| 51.29|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 223.20| 0.20| 8.17|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 232.95| 2.45| 4.37|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 274.70| 0.50| 11.02|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 290.10| 1.60| 5.38|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 294.85| 1.25| 3.92|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 299.45| 0.20| 11.96|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 301.00| 0.25| 6.59|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 306.10| 0.25| 4.60|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 347.05| 0.20| 17.13|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 440.10| 0.20| 5.41|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 135 | 613904| 912923| -68| 203| 124.45| 3.55| 4.36|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 377.10| 1.45| 3.92|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 386.85| 0.20| 8.67|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 418.75| 0.25| 89.12|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 466.70| 0.80| 13.03|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 137 | 613710| 912859| -81| 180| 64.15| 0.45| 3.19|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 181.70| 0.20| 12.58|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 204.80| 0.25| 81.48|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 384.00| 0.65| 4.04|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 521.10| 1.00| 8.74|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 533.70| 5.45| 4.65|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 138 | 613513| 912859| -84| 178| 59.75| 0.40| 4.44|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 73.95| 0.35| 3.47|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 80.10| 0.25| 23.50|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 90.65| 0.20| 30.13|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 163.35| 1.05| 26.93|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 205.35| 0.45| 16.19|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 216.20| 0.30| 7.72|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 256.10| 2.00| 4.58|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 259.75| 0.20| 8.57|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 322.50| 0.30| 4.03|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 140 | 613400| 912866| -60| 187| 114.60| 0.20| 52.90|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 121.20| 0.20| 24.51|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 122.80| 0.25| 27.94|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 203.85| 2.00| 7.00|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 141 | 613709| 912874| -74| 221| 188.50| 0.30| 7.83|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 244.40| 0.55| 16.33|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 264.20| 0.50| 10.93|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 275.95| 0.40| 3.37|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 286.80| 0.60| 12.83|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 298.80| 0.20| 19.40|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 500.50| 1.00| 19.13|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 148 | 613400| 912867| -75| 187| 69.65| 0.30| 8.17|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 120.10| 0.45| 14.70|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 132.45| 0.25| 37.30|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 192.05| 0.20| 11.87|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 234..90| 1.65| 32.73|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 152 | 613422| 912801| -69| 190| 123.90| 1.25| 9.28|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 131.00| 0.80| 40.22|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 154 | 613875| 912807| -55| 190| 124.80| 0.70| 17.63|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 155 | 614281| 912742| -57| 206| 445.60| 1.00| 3.15|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 157 | 613286| 912952| -73| 197| 168.90| 0.40| 3.56|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 158 | 613587| 912873| -84| 180| 99.60| 2.50| 8.18|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 127.50| 0.40| 14.83|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 209.00| 1.15| 31.63|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 238.75| 3.05| 18.76|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 285.20| 1.80| 12.31|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 288.10| 1.00| 3.51|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 159 | 613788| 913252| -45| 190| 190.55| 0.45| 3.57|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 197.65| 0.70| 4.47|
|-------+--------+--------+-----+---------+----------+----------+---------|
| | | | | | 370.55| 0.55| 3.43|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 160 | 613932| 912868| -48| 165| 308.80| 0.70| 3.33|
|-------+--------+--------+-----+---------+----------+----------+---------|
|MD 162 | 613641| 913127| -55| 191| 156.90| 1.00| 3.23|
+-------------------------------------------------------------------------+
Notes:
(i) All above assays accepted for incorporation into a
resource estimation;
(ii) Grid coordinates based on the Philippine Reference System
92;
On-going drill programme
From early July, drilling with eight surface rigs will continue with
three focussing on the main mine area, three on eastern extensions of
the vein system, and two will start drilling other untested vein
systems adjacent to the mine area.
Geoff Davis, Managing Director of Medusa, commented:
"These results continue to confirm the world class nature of the Co-O
Deposit. At this stage they do not show any sign of weakening along
strike to the east. We will continue to aggressively explore along
strike to increase the opportunities for expanding the mine
infrastructure. In addition, we are now moving towards exploring
other vein systems in the immediate vicinity of the Co-O Mine which,
if successful, will also contribute to the possibility of
diversifying our sources of ore".
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 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
"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.
=--END OF MESSAGE---
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