Lingig Drilling Extends Mineralisation
(Thomson Reuters ONE) - MEDUSA MINING LIMITED ABN: 60 099 377 849 Unit 7, 11 Preston Street Como WA 6152 PO Box 860 Canning Bridge WA 6153 Telephone: +618-9367 0601 Facsimile: +618-9367 0602 Email: admin(at)medusamining.com.au Internet: www.medusamining.com.au MEDUSA MINING LIMITED LINGIG DRILLING EXTENDS MINERALISATIONMedusa Mining Limited ("Medusa" or the "Company") (AIM: MML), throughits Philippines subsidiary, Philsaga Mining Corporation ("Philsaga"),advises that drilling has continued to locate copper mineralisationat potentially economic grades within a very large copper-anomalousenvelope.Selected available intersections (at 0.1% copper cut-off) include:+----------------------------------------------+| Hole Number | Intercepts | Copper | Gold || | (metres) | (% Cu) | (g/t Au) ||-------------+------------+--------+----------|| LIN 14 | 209.10 | 0.25 | 0.07 ||-------------+------------+--------+----------|| LIN 17 | 44.50 | 0.34 | 0.09 ||-------------+------------+--------+----------|| LIN 19 | 159.70 | 0.40 | 0.04 ||-------------+------------+--------+----------|| LIN 20 | 38.00 | 0.20 | 0.02 |+----------------------------------------------+Mineralisation has now been located in two distinct geologicalsettings.Thrust-hosted mineralisation (Zone 1) drilled to date is hostedwithin the basaltic and doleritic rocks centred around the NorthernDiscovery Area previously reported in holes LIN 2 and 3. The geometryof this mineralisation is still to be confirmed, appearing at thisstage to be controlled by northeast-trending structures. Thismineralisation is open along the projected strike in both directions.Porphyry associated mineralisation (Zone 2) centred around holes LIN14 and 17 and associated with potassic (biotite and variablemagnetite) alteration of dioritic rocks below the thrust whereconsistent copper mineralisation has been located in association withintensely altered, dioritic hydrothermal breccias.Nearly all holes have visible copper mineralisation thus defining alarge copper-anomalous zone. Structural complexity of the areasupports the potential for repeats of structurally controlledmineralised zones. Mineralisation vectors are being defined which areanticipated to lead to a fertile porphyry source.Since the previous announcement on 17 March, 2009, the Company hasdrilled approximately 6,400 metres in seventeen angled holes usingthree rigs. All holes were cored from surface.Managing Director Geoff Davis commented:"We continue to intersect extensive mineralisation in increasinglyfavourable structural and magmatic settings. The discovery ofsignificant new intersections in a high energy/high fluid flowdioritic hydrothermal breccia environment is interpreted to bevectoring closer to the porphyry mineralisation source. The coppergrades intersected to date are comparable to many other porphyrydeposits around the world."Drilling will continue using three rigs to extend themineralisation, to refine the geological models and to unravel themineralisation controls." 9 October 2009For further information, please contact:Medusa Mining Limited +61 8 9367 0601Geoffrey Davis, Managing DirectorRoy Daniel, Finance DirectorFairfax I.S. PLC(Nominated Adviser/Joint Broker) +44 (0)20 7598 5368Ewan LeggatMirabaud Securities Limited(Joint Broker) +44 (0)20 7321 2508Peter KrensLothbury Financial +44 (0)20 7011 9411Michael Padley/Libby MossBACKGROUNDThe Lingig prospect is covered by a Mines Operating Agreement ("MOA")over MPSA application number APSA 024-XIII comprising two parcelssituated to the north and to the east (the Lingig copper prospect) ofthe Co-O Mine and millsite.Figure 1 (please see the link at the end of this announcement) showsthe current interpretation of the regional geology with drill holelocations and a summary of results. Table 1 contains drill holeresults obtained to date (including results from the announcement of17 March 2009). Figure 2 shows the detailed geology and drill holelocations around the northern discovery area, and Figures 3 and 4show selected cross-sections (please see the link at the end of thisannouncement). Additional background information is contained inannouncements dated 13 November 2007 and 17 March 2008 and theDecember 2007 quarterly report.The 17 March 2009 announcement reported copper mineralisationcontained within an extensive east dipping 200 to 300 metre thickthrust zone. The thrust footwall is an un-mineralised medium-grainedbiotite-hornblende quartz diorite which intruded the basalticsequence (numerous basalt xenoliths are present near the dioritecontact in both core and in outcrop). The approximate intrusivecontact subsequently became the footwall of a regional thrust zone.The 200 to 300 metre thick thrust zone is mineralised in somesections with disseminated and hairline veined chalcopyrite and minorbornite, with widespread epidote alteration, magnetite, pyrite, localshearing, and carbonate veining. A 'quartz diorite sill' immediatelyabove the thrust contact is mineralised with chalcopyrite asdisseminations and veining and bornite, with common quartz veins upto two centimetre thick hosting centre-line pyrite, chalcopyrite, andbornite. The bornite and increased chalcopyrite content contributedto the higher copper assay grades. The "quartz diorite sill'mineralisation is accompanied by magnetite disseminations andveining.The continuing drilling programme is designed to test the lateralextent of the thrust contact and its associated coppermineralisation. Interpretations of results to date indicate that thegeology is structurally complex, with a predominance of NE, NW andENE trending structures. Some of these structures may be controllingmineralisation, whilst some appear to be overprinting and possiblyremobilising the original copper mineralisation. Within the shearcorridors the veining and alteration destroy the primary magnetite inthe basaltic units.The drill results at the Northern Discovery Area highlight two zonesof significant copper mineralisation as shown on Figure 1 (please seethe link at the end of this announcement). One is as previouslyreported (Zone 1) with a second zone located approximately 400 metresto the south (Zone 2).DrillingSince the announcement on 17 March, 2009, the Company has drilledapproximately 6,400 metres in seventeen angled holes using threerigs. All holes were cored from surface. Drilling difficulties wereexperienced in LIN 9, which was abandoned and twinned by LIN10.Whilst assay results are still awaited for holes LIN 21 to LIN25, allother holes have been sampled and assays returned. Only minorintervals of interest in LIN12 were sampled.Holes LIN 11, LIN 12 (re-drilled as LIN 13), and 15 were drilled onthe large complex to the south. All other holes were drilled in thenorthern area around the 1974 discovery hole JDH 1.NORTHERN DISCOVERY AREAZone 1 Thrust-hosted mineralisationThe recent drilling has confirmed the continuation of the coppermineralised 'quartz diorite sill' above the thrust contact (Fig. 3)(please see the link at the end of this announcement), with the'sill' dipping both to the north and to the east at moderate angles(LIN 2 to LIN 6, and LIN 2 to LIN19 respectively). Further down diphowever, the 'sill' diverges from the thrust contact, and thecontained copper grades are considerably reduced.An alternative interpretation of the 'quartz diorite sill' is that itrepresents a zone of carbonate, sericite and pyrite alteration thatproduces rounded white 'spots' as wall rock alteration aroundfractures and veins. The alteration is destructive to primary rocktextures, and produces a porphyritic to slightly dioritic texturedrock in appearance. What has been previously identified as a 'dioritesill' may alternatively represent a highly altered zone overprintinga protolith host of dolerite, minor quartz diorite, or andesiteporphyry.The variably copper mineralised basaltic units above the altered'sill', which are characterised by local shearing, epidotealteration, and pyrite and chalcopyrite veining with disseminatedmagnetite, become less altered and copper mineralised further awayand down dip from LIN 2 and LIN 3. The pyrite occurs both as part ofthe mineralisation and as a sulphide halo around the mineralisation.The orientation of the pyrite halo suggests influence by both NW andNE trending structures.The significance of the re-interpretation of the 'diorite sill' andits associated mineralisation is that the copper mineralisation isnot necessarily then confined to the thrusted zone above the thrustcontact. The enriched chalcopyrite + bornite + pyrite + magnetitemineralisation and alteration around LIN 2 and LIN 3 may beattributed to a concentration of porphyry style mineralisationfocused within a NE trending structural corridor. Under thisinterpretation, the mineralisation would dip steeply to the north andor northwest.Zone 2 Porphyry-associated mineralisationZone 2 is located approximately 400 metres south of Zone 1, separatedby a hill of strongly pyrite veined and epidote altered basalt. Zone2 is characterised by three styles of mineralisation. Figure 3 showsthe cross-section for this zone (please see the link at the end ofthis announcement).The first style is similar to that hosted by the basaltic units abovethe 'diorite sill' in LIN 2 (Zone 1), being variably sheared basalthosting chalcopyrite with trace bornite and weak magnetitemineralisation within a pyrite and pyrite + carbonate halo. Thismineralisation is interpreted as representing a zone of up-dip fluidmigration, from either the underlying mineralised intrusive brecciasor the mineralised "diorite sill".The second style is disseminated chalcopyrite hosted by amedium-grained quartz diorite which has a distinct lack of sulphidicquartz veins, and is relatively non-magnetic. The quartz diorite ischaracterised by common small golf ball sized mafic xenoliths andfine-grained pale brown retrograde biotite. Clots of remnant chloriterimming chalcopyrite grains are noted within the pale brown biotitealteration. The mineralisation is considered to be primary andrelated to the biotite alteration, and has a sill-like orientationbeneath the regional thrust contact. The sill is interpreted to pinchout to the north, but remain open to the east and south. Observationsfrom LIN 20 suggest that at least part of the diorite hosteddisseminated copper mineralisation may have been truncated by theoverlying thrust contact. The dolerite immediately above the contactis generally not mineralised. A halo of pyrite alteration occurs inthe hanging wall of the thrust contact.The third style is hosted by polylithic intrusive breccias. Variablysized clasts to 40 centimetres of quartz diorite, basalt and minordolerite host up disseminated fine-grained chalcopyrite in both thematrix and in some clasts. The chalcopyrite is associated withsecondary pale brown biotite, which is noted in both the matrix andin some of the breccia clasts. A distinct lack of mineralised quartzveining and limited magnetite characterise the breccia. The brecciaappears to be blind, probably not reaching the surface, and isenveloped by a weak pyrite halo.The chalcopyrite mineralised, pale brown biotite-altered dioriteappears to pinch to the north, but may widen to the south, suggestingthat it is open to the east (down dip), south, and vertically (withinintrusive breccias).QUARTZ DACITE PORPHYRY COMPLEXInterpretations suggest that the complex is a flow of daciticcomposition underlain by flat-lying to low angle amygdaloidal basaltand basalt flows with flow breccias tops. The units have beenstrongly sheared with strongly developed wide spread zones of clay +pyrite +/- minor copper and lead sulphides + variable silicaalteration. Surficial weathering processes have enriched gold in nearsurface zones as indicated by previously reported anomalous rock chipvalues. Three holes drilled into selected sites within the complexintersected only minor copper mineralisation (LIN 11, LIN 12re-drilled as LIN13, and LIN 15).Links to the Zone 1 and Zone 2 mineralised systems to the north areunclear. Outcropping copper minerals with anomalous rock chip valuesto 1000 ppm copper occur in east-trending drainages immediately southof the Silver Belt Prospect indicate that the potential for thealtered dacitic complex area to host a larger copper mineralisedsystem remains.Work ProgrammeThere are currently three drill rigs in operation at the projectwhich will continue to test the evolving geological models andextensions to the mineralised zones for the remainder of the year.ABOUT MEDUSA MINING LIMITEDMedusa Mining Limited ("Medusa" or the "Company"), a public companylisted on the ASX and AIM, is an Australian based gold producer,focussed solely on the Philippines.With total current resources of over 2,000,000 ounces of gold,Medusa's corporate strategy is to become a mid tier 300,000 to400,000 ounce per year, low cost gold producer. The Company iscurrently expanding its high grade Co-O Mine operations(1,380,000 ounces at 10.8 g/t gold) to increase its productioncapacity to 100,000 ounces per year, and is conducting near mineexploration to assess the possibilities of further expansion to200,000 ounces per year. Current cash costs at the Co-O Mine areapproximately US$200 per ounce. A pipe-line of deposits is now being established with theBananghilig Deposit (650,000 ounces at 1.3 g/t gold) recently addedand which is expected to expand, potentially in conjunction with newnearby discoveries.Further potential upside exists in the discovery of substantialcopper deposits within the tenement holding of > 800km2.JORC COMPLIANCE - CONSENT OF COMPETENT PERSONInformation in this report relating to Exploration Results, is basedon information compiled by Mr Geoff Davis, who is a member of TheAustralian Institute of Geoscientists. Mr Davis is the ManagingDirector of Medusa Mining Limited and has sufficient experience whichis relevant to the style of mineralization and type of deposits underconsideration and to the activity which he is undertaking to qualifyas a Competent Person as defined in the 2004 Edition of the"Australian Code for Reporting of Exploration Results, MineralResources and Ore Reserves". Mr Davis consents to the inclusion inthe report of the matters based on his information in the form andcontext in which it appears.Table I. Summary of all new Lingig drilling results (LIN holes) andrelevant 1974 drilling results(JDH holes) for intersections >10 metres wide (including sub-grade material up to 10 metres wide). LIN 5 and10 to 20 results returned since 17 March 2009.+------------------------------------------------------------------------------------------+|Hole |East | North | Azimuth |Dip | Cut-off 0.1% copper ||------+---------+--------+---------+-----+------------------------------------------------|| | | | | | From| To| Width| Grade | Gold || | | | | | (metres)| (metres)| (metres)| (%Cu) | (g/t) ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 1 |652072 | 896918 | 0 |-90 | 71.00| 196.10| 125.10| 0.26 | 0.03 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 2 |652075 | 896844 | 0 |-90 | 2.00| 269.30| 267.30| 0.62 | 0.06 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 3 |652075 | 896844 | 180 |-60 | 0.00| 224.00| 224.00| 0.77 | 0.11 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 5 |651994 | 897150 | 0 |-90 | 389.40| 408.70| 19.30| 0.10 | 0.01 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 6 |651994 | 897150 | 166 |-62 | 94.10| 114.10| 20.00| 0.13 | 0.01 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | 280.40| 294.40| 14.00| 0.14 | 0.01 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | 362.20| 421.60| 59.40| 0.31 | 0.02 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||JDH 1 |652073 | 896908 | 0 |-90 | 52.00| 250.00| 198.00| 0.34 | 0.01 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||JDH 3 |651865 | 895926 | 0 |-90 | 12.00| 100.00| 88.00| 0.14 | 0.00 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||JDH 5 |651828 | 895648 | 0 |-90 | 18.00| 100.00| 82.00| 0.18 | 0.00 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | 224.00| 242.00| 18.00| 0.15 | 0.00 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 10|652272 | 896565 | 270 |-60 | 175.75| 212.30| 36.55| 0.12 | 0.07 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 13|651466. | 894756 | 180 |-50 | 3.00| 212.10| 209.10| 0.25 | 0.07 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | 232.10| 242.10| 10.00| 0.11 | 0.01 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 17|652469 | 896366 | 270 |-60 | 144.75| 170.70| 25.95| 0.33 | 0.03 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | 230.80| 275.30| 44.50| 0.34 | 0.09 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 19|652236 | 896845 | 242 |-60 | 148.10| 307.80| 159.70| 0.40 | 0.04 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 20|652681 | 896364 | 270 |-60 | 280.10| 318.10| 38.00| 0.20 | 0.02 |+------------------------------------------------------------------------------------------+ Notes:Assaying undertaken by McPhar Geoservices in Manila using :(i) Gold by fire assay on 30g. samples with AAS finish.(ii) Cu - by AAS following concentrated HCI and HCI/HNO3/HCIO4leach in latter stages on 1g. sample.Table I. (cont'd) Summary of all new Lingig drilling results (LINholes) and relevant 1974 drilling results(JDH holes) for intersections >10 metres wide (including sub-grade material up to 10 metres wide). LIN 5 and10 to 20 results returned since 17 March 2009.+------------------------------------------------------------------------------------------+|Hole |East | North | Azimuth |Dip | Cut-off 0.3% copper ||------+---------+--------+---------+-----+------------------------------------------------|| | | | | | From| To| Width| Grade | Gold || | | | | | (metres)| (metres)| (metres)| (%Cu) | (g/t) ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 1 |652072 | 896918 | 0 |-90 | 118.50| 153.50| 35.00| 0.32 | 0.02 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | 161.50| 196.10| 34.60| 0.35 | 0.04 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 2 |652075 | 896844 | 0 |-90 | 26.00| 240.65| 214.65| 0.72 | 0.07 ||------+---------+--------+---------+-----+------------------------------------------------|| | | | | |including ||------+---------+--------+---------+-----+------------------------------------------------|| | | | | | 132.00| 142.65| 10.00| 1.00 | 0.27 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------|| | | | | | 172.00| 240.65| 68.65| 1.03 | 0.08 ||------+---------+--------+---------+-----+----------+----------+----------+-------+-------||LIN 3 |652075 | 896844 | 180 |-60 | 10.00| 222.00| 212.00| 0.80 | 0.07 ||------+---------+--------+---------+-----+------------------------------------------------|| | | | | |including ||------+---------+--------+---------+-----+------------------------------------------------|| | | | | | 68.00| 146.00| 78.00| 1.16 | 0.21 ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | 180.00| 190.00| 10.00| 1.02 | 0.06 ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | 206.00| 218.00| 12.00| 0.98 | 0.20 ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||LIN 5 |651994 | 897150 | 0 |-90 | | | | | ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||LIN 6 |651994 | 897150 | 166 |-62 | 364.20| 400.20| 36.00| 0.37 | 0.03 ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||JDH 1 |652073 | 896908 | 0 |-90 | 100.00| 112.00| 12.00| 0.43 | 0.00 ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | 134.00| 146.00| 12.00| 0.40 | 0.00 ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | 200.00| 250.00| 50.00| 0.67 | 0.04 ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||JDH 3 |651865 | 895926 | 0 |-90 | | | | | ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||JDH 5 |651828 | 895648 | 0 |-90 | | | | | ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | | | | | ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||LIN 10|652272 | 896565 | 270 |-60 | | | | | ||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||LIN 13|651466. | 894756 | 180 |-50 | 27.95| 83.85| 55.90| 0.44 | 0.10||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | 94;60| 124.55| 29.95| 0.36 | 0.03||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||LIN 17|652469 | 896366 | 270 |-60 | 150.70| 170.70| 20.00| 0.37 | 0.03||------+---------+--------+---------+-----+------------+--------+----------+-------+-------|| | | | | | 234.80| 273.30| 38.50| 0.37 | 0.10||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||LIN 19|652236 | 896845 | 242 |-60 | 206.10| 284.10| 78.00| 0.66 | 0.06||------+---------+--------+---------+-----+------------------------------------------------|| | | | | |including ||------+---------+--------+---------+-----+------------------------------------------------|| | | | | | 260.10| 278.10| 20.00| 1.23 | 0.10||------+---------+--------+---------+-----+------------+--------+----------+-------+-------||LIN 20|652681 | 896364 | 270 |-60 | 282.10| 294.10| 12.00| 0.36 | 0.05|+------------------------------------------------------------------------------------------+ Notes:Assaying undertaken by McPhar Geoservices in Manila using :(i) Gold by fire assay on 30g. samples with AAS finish.(ii) Cu - by AAS following concentrated HCI and HCI/HNO3/HCIO4leach in latter stages on 1g. sample.---END OF MESSAGE---http://hugin.info/138050/R/1346512/323491.pdfThis announcement was originally distributed by Hugin. 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Datum: 09.10.2009 - 08:00 Uhr
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