Higher confidence indicated gold resources remains largely unchanged compared to 2014, said Philippines-focused miner Medusa Mining (ASX:MML) as it issued its latest annual update.
The firm mined (depleted) 105,000 ounces in the year to end June, but the amount in the indicated category was around the same and at a slightly higher grade, the company said.
This was mainly because of the firm converting inferred into indicated resources by infill drilling, it added.
At the flagship Co-O mine, total inferred and indicated are now estimated at 3.5 million tonnes at 10.2 g/t gold for a total 1.15 million ounces gold, compared to the 2014 estimate of 4.34 million tonnes at 10.1 g/t gold for a total of 1.41 million ounces gold.
At the Bananghilig gold deposit, total inferred and indicated resources are 24.52 million tonnes at a grade of 1.44 g/t gold) and Saugon Gold - 81,500 tonnes at a grade of 5.97g/t gold - remain unchanged from 2013.
Chief executive Geoff Davis said the fact indicated resources were maintained validated the group's infill drilling emphasis during the year.
"Once the new reserve estimates are completed shortly, it is expected that the level of reserves should be maintained within the same range as the previous 6 years, a very consistent record.
"Whilst Inferred Resources have reduced primarily through less extensional drilling to replace converted resources, it is planned that the drilling due to commence from Level 8 in the December quarter will be a combination of extensional and infill drilling, and which should extend the resources to depth."