Medusa Mining Ltd (ASX:MML) 20 August 2008
MEDUSA MINING LIMITED
(AIM: MML)
LINGIG PORPHYRY COPPER DRILLING
CONFIRMS MINERALISATION
Medusa Mining Limited ("Medusa" or the "Company"), the Australian
based company operating and developing gold mines in the Philippines,
through its Philippines operating company, Philsaga Mining
Corporation, advises that new drill holes LIN 1 and LIN 2 at Lingig
are visually confirming copper mineralisation similar to the 1974
discovery hole DDH 1.
Vertical drill hole LIN 1 was positioned three metres away from the
1974 discovery hole and intersected the doleritic rocks with
increasing silicification towards the porphyry contact at 185.50
metres (compared to 198 metres in DDH 1). The hole collapsed in
broken ground just below the porphyry contact and was abandoned at
191.5 metres.
A second vertical hole, LIN 2, is underway positioned approximately
60 metres to the south of LIN 1. The hole is at 338.75 metres (as of
17 August 2008) and is drilling ahead in mineralised quartz diorite.
Hole From (m) To (m) Description
LIN 2 0.00 196.00 Dolerite: propylitic alteration with common
fracturing and veining, chalcopyrite in
veinlets and disseminations in places, rare
chalcocite and bornite
196.00 202.00 Porphyry dyke: weakly altered and veined
202.00 239.90 Dolerite: increasing silicification and
veining, chalcopyrite and rare bornite
239.90 245.30 Porphyritic andesite dyke: pyrite, bornite and
chalcopyrite
245.30 283.75 Dolerite: veined in places, chalcopyrite,
bornite, and pyrite minor magnetite
283.75 338.75 Diorite: disseminated bornite, chalcopyrite,
pyrite
Complete assays will be provided when received.
Please see the link at the end of this announcement for a geological
map of the Lingig area.
Geoff Davis, Managing Director of Medusa, commented:
"This drilling confirms the presence of copper mineralisation. We
expect to be able to announce the first assay results in about
mid-September, at which time we will advise shareholders of the
ongoing drill programme".
For further information, please contact:
Medusa Mining Limited +61 8 9367 0601
Geoffrey Davis, Managing Director
Roy Daniel, Finance Director
Fairfax I.S. PLC +44 (0)20 7598 5368
Nominated Adviser / Joint Broker
Jeremy Porter
Mirabaud Securities Limited +44 (0)20 7321 2508
Joint Broker
Peter Krens
Lothbury Financial +44 (0)20 7011 9411
Michael Padley / Louise Davis
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.
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LINK: http://hugin.info/138050/R/1244488/268356.pdf
Medusa Mining Ltd
http://www.medusamining.com.au
ISIN: AU000000MML0
Stock Identifier: AIMX.MML
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