Medusa launches FS on Bananghilig
PERTH (miningweekly.com) – Philippines-focused gold miner Medusa Mining said this week that it would launch a feasibility study on its Bananghilig gold deposit, after an initial scoping study came up positive.
The scoping study found that with a capital investment of some $220-million, Medusa could develop a 200 000 oz/y operation at Bananghilig, based on the current indicated resource of 11.9-million tons, at 1.59 g/t gold, and an inferred resource of nine-million tons, at 1.62 g/t gold.
“We are very pleased with the progress of the Bananghilig project and the positive outcome of the scoping study, such that work has already commenced on additional studies to progress the feasibility study,” said Medusa MD Peter Hepburn-Brown.
“We are optimistic that the feasibility study will enhance the project economics, which we are aiming to complete in the September quarter.”
Hepburn-Brown said that Medusa was also optimistic that there were opportunities to extend the life of the project, based on the sterilisation drilling results announced recently.
Fourteen additional infill drill holes were also nearing completion and would be incorporated into the database and used to estimate a revised resource.
Further initiatives to extend the mine life included mine scheduling, grade optimisation, processing, and flow-sheet optimisation, which will be undertaken in the feasibility study.
The feasibility study was planned for completion in the September quarter of this year.
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