Medusa Mining’s Philippines-based subsidiary Philsaga says its latest surface and underground drilling program has confirmed vein continuity at the Co-O gold mine in northeast Mindanao.

Results from five drill holes include 1.4 metres @ 28.02 grams/tonne gold and 2.5 metres @ 72.80 grams/tonne gold. The surface drilling has provided mine planning and resource infill information mainly to the east of the Oriental fault, including the multiple Agsao veins and others associated with the Roysan vein.

Medusa chairman Geoff Davis says: “The Co-O mine drilling continues to deliver confirmation of the extent of this vein system. Following on from the new resource announced on July 27 of 1.96 million ounces, we expect positive drill results to continue as drilling expands the vein system. Drilling is continuing with six surface rigs and five underground rigs.

“Underground development shows that in many cases as the veins approach cross-cutting faults, they narrow down on both sides of the fault over 5 to 10 metres before widening out. There is also some pinching and swelling of veins along strike. Most drilling is sub-parallel to the cross-cutting fault direction (and perpendicular to the strike of the veins) and rarely intersects these faults, which are subsequently identified by underground on-vein development or underground drilling.

“It should also be emphasized that drilling of vein systems rarely provides ore-grade intersections in every intersection in a vein. As our data base grows, and the characteristics of each vein become clearer, a statistical assessment of the percentage of ore-grade drill hole intersections required in each vein will provide the levels of certainty for turning exploration drill results into ore that can be developed with confidence,” Geoff Davis says.

www.medusamining.com.au

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