Medusa Mining shares rose Tuesday after the company said it encountered more gold mineralisation at its Bananghilig project in the Philippines.
A sterilisation drilling programme intersected zones of gold mineralisation at all six holes.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"It is quite exceptional to see every drill hole of the sterilisation progamme encounter significant gold mineralisation proximal to the Bananghilig gold deposit, which is itself open in all directions," said Managing Director Peter Hepburn-Brown.
"The potential for significantly increasing the resource base for the Bananghilig project is highly probable based on the number of gold mineralised zones encountered in each hole."
RD
-
Jeremy Hunt: Tech and defence will make Britain great again - investors should stay or risk missing outFor investors shifting away from the UK, tech and defence may well be opportunities worth staying for, the former chancellor Jeremy Hunt says.
-
Can the House of Lords change the government’s mind on controversial inheritance tax reforms?The House of Lords has launched an inquiry into inheritance tax changes on pensions and agricultural property relief - can the government’s plans be stopped?
