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Co-O Mine Mineral Resource Estimate & Conceptual Target Size Update |
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Thursday, 22 July 2010 21:18 |
Medusa Mining Limited (ASX & AIM: MML; TSX: MLL), through its Philippines operating company, Philsaga Mining Corporation, advises that it has increased the Indicated Resource by 4% to 603,000 ounces and increased the Inferred Resource by 36% to 898,000 ounces (excluding production since 9 December 2009). The grade of both categories has also increased.
The Company also announces additional information which supports the announcement dated 18 January 2010 containing estimates of the conceptual potential target sizes** for the Co-O Mine using various parameters which indicate a range of 3,000,000 ounces in 9,300,000 tonnes to 7,000,000 ounces in 22,000,000 tonnes using a grade range of 9 to 11 g/t gold with a preferred average grade of 10 g/t gold.
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