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Medusa Mining Ltd.

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Summary

Project:

Co-O

Deposit:Co-O
Location:Philippines
Commodities:Gold
Date:1/24/2020
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Active Mining & Production
Report details:24-1-2020: Medusa Mining Ltd. announces an Exploration/Drilling Update report for its Co-O deposit at the Co-O project. Drilling results incl. 1.20m @ 96.11g/t Au from 171.10m. Total drilling for the quarter was 9,202 metres, a 19% decrease from last quar
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: James P Llorca (Internal)
ABSTRACT:Total drilling for the quarter was 9,202 metres, a 19% decrease from last quarter, with only one drill cuddy available for deep resource drilling during the quarter. Planned resource drilling cuddies on level 10 are currently under development. Resource drilling on level 10 totalled 4,372 metres from 10 holes, while reserve definition drilling from levels 4, 6, 7 & 10 totalled 4,518 m from 27 holes. High-grade results achieved in resource drilling included 1.20 m @ 96.11 g/t Au, 0.25 m @ 74.15 g/t Au, 0.95 m @ 20.29 g/t Au and 1.40 m @ 16.29 g/t Au. (Table II). The underground drilling campaign from level 10 targeting resource definition to levels 11 to 16 (Figure 3) continued to return good results. This program is aiming to increase and upgrade (net of depletion) the current Mineral Resource through depth and strike extensions of the mineralised vein system between levels 10 to 16 (-300m to -600m RL). Significant results obtained during the quarter are reported in Table II and relative positions shown in longitudinal section (Figure 3 & 4).

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