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Medusa Mining Ltd.
Summary
| Project: | Saugon | |
|---|---|---|
| Deposit: | Saugon | |
| Location: | Philippines | |
| Commodities: | Gold | |
| Date: | 4/9/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-4-2019: Medusa Mining Ltd. announces a Resource Estimation report for its Saugon deposit at the Saugon project. Annual statement of mineral resources, unchanged since last estimate. Medusa Mining Limited (“Medusa” or the “Company”), through its Philippi | |
| Resources: | (Resource, I+I): 81500t @ 6.00g/t Au for 15700oz Au contained at project | |
| CP/QP: | [Resources]: James Llorca (Internal) | |
| ABSTRACT: | Medusa Mining Limited (“Medusa” or the “Company”), through its Philippines affiliate, Philsaga Mining Corporation (“Philsaga”), is pleased to advise that it has completed the annual review and update to its Mineral Resource and Ore Reserve estimates for the 2018 calendar year, ending 31 December 2018. Chief Executive Officer’s Statement: “The 12 months of diamond drilling and mine development has resulted in an increase in the total Co-O Mine resource to 890,000 ounces after allowing for depletion. It is pleasing to see the Measured and Indicated resource categories increase. Total resources now stand at 1.40 million ounces of gold. The Company continued its focus and intensive review of the Great Hamish Vein (“GHV”) and Jereme Vein, gaining greater understanding of structures, vein textures and their relationships with mineralisation and gold grades in the eastern extension. This has resulted in maintaining a high level of confidence in the Co-O resources, better defining the eastern geologic extension to the main GHV between Levels 12 and 16 and greater understanding of the structural controls on the epithermal gold system created by the Diatreme Intrusive Contact. | |
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