PMEA Blog

LONDON (SHARECAST) - Gold miner Medusa Mining said drilling on its Saugon First Hit Vein prospect in the Philippines will start in May of this year. The prospect was last drilled by the company in 2004, when gold was trading a little above the $400 an ounce level. Gold is currently trading just below $1100 an ounce.

“Drilling in 2004 reported some tantalising results at Saugon. The high grade gold mineralisation is poly-metallic with some high silver and copper-lead-zinc values hosted by high-level, high energy epithermal quartz breccias and veins,” said Geoff Davis, managing director Medusa.

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