Medusa Mining Limited Operations Update - New Mill and Level 8 (1865N)
September 04 2013 - 3:00AM
UK Regulatory
TIDMMML
RNS Number : 1865N
Medusa Mining Limited
04 September 2013
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@medusamining.com.au
Internet: www.medusamining.com.au
4 September 2013
OPERATIONS UPDATE - NEW MILL AND LEVEL 8
(ASX & LSE: MML)
Medusa Mining Limited ("Medusa" or the "Company"), through its
Philippine operating company, Philsaga Mining Corporation, wishes
to announce the following updates:
New Mill Circuit
The upgraded new milling circuit has been commissioned but,
during load commissioning, a compartment of the SAG mill power pack
failed. The controller to the power pack has also been deemed
faulty and needs to be sent off site for repairs. This is a Vendor
supplied, installed and commissioned package and the Vendor has
recommended that the whole power pack and controller be returned to
their workshops for repair. A complete new power pack unit will be
supplied within the next 45 days, therefore, the mill will not be
operating until the Vendor has installed and commissioned the new
controller and power pack unit.
Production for the September Quarter will be marginally affected
by the delay in the commissioning of the new mill but the guidance
for the December Quarter will remain unchanged.
Level 8 Development
Since the announcement of 30 June 2013, development on Level 8
has started to achieve improving results, including:
-- operation of the ore pass from Level 6 to Level 8 which feeds
the underground ore bin by conveyor;
-- connection of the Level 8 development with the ventilation rise from Level 6.
-- the discovery of a new vein (Don Pedro) parallel to the cross
faulting direction, and so far developed over 100 metres with an
average width of 2 metres and an average grade of 8 g/t gold. This
is being set up for stoping.
-- intersection of the high grade Great Hamish Footwall and Main
Veins, as well as Catto and Jereme Veins. On-vein development on
these has commenced.
-- driving south is continuing, aiming to intersect the Great
Hamish Hanging Wall and Roysan Veins during September.
For further information please contact:
Australia
Medusa Mining Limited +61 8 9367 0601
Peter Hepburn-Brown, Managing
Director
United Kingdom
SP Angel Corporate Finance
LLP (Financial Adviser & +44 (0)20 3463
Broker) 2260
Ewan Leggat/Laura Littley
DISCLAIMER
This announcement contains certain forward-looking statements.
The words 'anticipate', 'believe', 'expect', 'project', 'forecast',
'estimate', 'likely', 'intend', 'should', 'could', 'may', 'target',
'plan' and other similar expressions are intended to identify
forward-looking statements. Indications of, and guidance on, future
earnings and financial position and performance are also
forward-looking statements. Such forward-looking statements are not
guarantees of future performance and involve known and unknown
risks, uncertainties and other factors, many of which are beyond
the control of Medusa, and its officers, employees, agents and
associates, that may cause actual results to differ materially from
those expressed or implied in such statements. Actual results,
performance or outcomes may differ materially from any projections
and forward-looking statements and the assumptions on which those
assumptions are based. You should not place undue reliance on
forward-looking statements and neither Medusa nor any of its
directors, employees, servants or agents assume any obligation to
update such information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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