Friday, 15th August 2008 (403 views)

It has been announced that Medusa Mining has increased its estimated gold resource at the Co-0 mine by 17 per cent to 862,000 ounces, reports GrowthCompany.

The Australian firm said the new resource estimate contains an inferred 1.45 million ounces at 10.06 g/t of gold and an indicated one million ounces of ore at 11.63 g/t of gold.

In total, there is an estimated 862,000 ounces of gold at an average of 10.72 g/t at the mine.

Medusa Mining also reported the discovery of gold mineralisation at the Kamarangan site in the Philippines.

Results at this property include 1.35 g/t of gold across three metres and 1.49 g/t of gold across 3.2 metres.

In other news, EurOmax Resources has announced it has intersected 1.3 g/t of gold across 111 metres in one of its drillholes at Karavansalija.

Within this length was a grading of 2.05 g/t of gold across 42 metres.

 

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