Re: MML MEDUSA MINING
The following from Mining News only adds to the value of this company.
Brer
"MEDUSA Mining says it has signed a memorandum of understanding with Pyro Copper to acquire the Barlo copper-gold-zinc project in the Philippines.
The company said the acquisition, covering 4360 hectares, adds to the portfolio of projects held by the Medusa-BacTech joint venture, which is focused on projects with difficult to treat mineralisation and ores with high penalty elements.
Barlo was an open pit mine for a 10 years until 1984, during which time it produced approximately 3 million tonnes of ore grading 1.5% copper and 1% zinc.
Medusa said gold was not routinely assayed during previous exploration and mining but previous assays from waste dump samples indicate samples of up 5 grams per tonne. Mineralisation is described as Kuroko style massive sulphides exhibiting zoning in copper, gold, silver and zinc.
The MOU will allow JV partners BacTech and Medusa an Option to undertake work at the site until 31 December 2006 with a MOU signing fee of $US10,000 to be paid to Pyro immediately. If the option is exercised, Medusa, BacTech and Pyro Copper will vend the project into a new entity.
Medusa said its primary focus is still the Co-O gold mine in Dizon, in the Philippines."