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Medusa Mining intersecting veins to the west of the Tinago fault at Co-O

Last updated: 06:29 21 Feb 2013 GMT, First published: 07:29 21 Feb 2013 GMT

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Surface drilling of Medusa Mining’s (LON:MML, ASX:MML) Co-O mine continues to provide resource infill and extension information for mine planning to the east and west of the Oriental fault.

The company said drilling west of the Tinago fault has consistently intersected veins with some indications that grades in places may be increasing at depth, although to date the grades in the upper levels have been generally below three grams per tonne (g/t) gold.

Meanwhile, underground drilling is confirming vein continuity and providing additional information on vein splits and new veins not intersected by surface drilling.

Highlights of the drilling update for the Co-O mine in the Philippines announced this morning include: 2.76 metres (m) width at 14.94 grams per tonne (g/t); 3.00m at 19.08 g/t; 1.20m at 749.88; 2.30m at 19.25 g/t; 4.80m at 26.28 g/t; 1.45m at 21.97 g/t; 2.55m at 10.85 g/t; and 1.70m at 30.25 g/t.

"The Co-O Mine drilling continues to deliver high grade intersections over a strike length of approximately two kilometres and at depth. The drilling indicates the vein system appears to be weakening to the west of the Tinago Fault particularly near surface with the possibility of some higher high grades at depth. Elsewhere drilling continues to return good values from infill and extensional drilling,” said Peter Hepburn-Brown, managing director of Medusa.

“Drilling is continuing with four surface and three underground rigs. The next resource update will be in the September quarter of 2013," he added.

The company regards the initial drilling as indicative only and operates a policy of using drilling to locate the position and extent of the mineralised veins. This is then followed by on-vein development to support the drilling results, and to provide a more accurate estimate of vein grades which results in the upgrading of the resource category from Inferred to Indicated. The development supports the estimation of resources and facilitates the conversion of resources to reserves.

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