logo-loader
Medusa Mining

Medusa Mining discovers new high-grade gold veins near its Co-O mine

Medusa Mining Ltd, the AIM listed (AIM: MML) Australian based developer and operator of gold mines in the Philippines has discovered new veins with consistent and exceptionally high gold grades at its Co-O Mine.

The new discoveries, named the Jereme Vein and the New Catto Veins 1 to 5, are located to the south of, and parallel to, the 1.5 km long Co-O Mine vein system and are still open in three directions.

Highlights include: 1.00 metre at 198.84 Grade (g/t gold) at Jereme. New Catto Vein 1 had 2.70 metres at 92.03 (g/t gold). New Catto Vein 2 had 0.90 metres at 32.32 (g/t gold). New Catto Vein 3 had 1.35 metres at 75.98 (g/t gold). New Catto Vein 4 had 4.50 metres at 20.05 (g/t gold), New Catto Vein 5 had 1.90 metres at 79.05 (g/t gold).

Geoffrey Davis, MD of Medusa, commented:

"These results confirm our belief that the Co-O Mine is highly prospective with exceptionally high grades throughout, and that it has the potential for us to increase the resources in the August-September estimate considerably via the ongoing drill programme."

Medusa’s shares rose 4.25p (7.05%) to 64.50p on the news

no_picture_pai.jpg
Medusa Mining Ltd, the AIM listed (AIM: MML) Australian based developer and operator of gold mines in the Philippines has discovered new veins with consistent and exceptionally high gold grades at its Co-O Mine.

The new discoveries, named the Jereme Vein and the New Catto Veins 1 to 5, are located to the south of, and parallel to, the 1.5 km long Co-O Mine vein system and are still open in three directions.

Highlights include: 1.00 metre at 198.84 Grade (g/t gold) at Jereme. New Catto Vein 1 had 2.70 metres at 92.03 (g/t gold). New Catto Vein 2 had 0.90 metres at 32.32 (g/t gold). New Catto Vein 3 had 1.35 metres at 75.98 (g/t gold). New Catto Vein 4 had 4.50 metres at 20.05 (g/t gold), New Catto Vein 5 had 1.90 metres at 79.05 (g/t gold).

Geoffrey Davis, MD of Medusa, commented:

"These results confirm our belief that the Co-O Mine is highly prospective with exceptionally high grades throughout, and that it has the potential for us to increase the resources in the August-September estimate considerably via the ongoing drill programme."

Medusa’s shares rose 4.25p (7.05%) to 64.50p on the news

Quick facts: Medusa Mining

Price: $0.83

Market: ASX
Market Cap: $171.43 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. 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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Alchemist sees big market in China for medical cannabis sales

Alchemist (CSE: AMS) CEO Paul Mann and Vice President of Business Development, Asia Pacific Johnson Lee joined Steve Darling from Proactive Vancouver to discuss Alchemist looking for opportunities for cannabis in the emerging cannabis market.  Mann and Lee talk about what the industry...

23 hours, 17 minutes ago

2 min read