Medusa Mining, an Australian-based company operating and developing gold mines in the Philippines, has discovered new veins with consistent and exceptionally high gold grades.

The new discoveries, named the Jereme and New Catto Veins 1 to 5 are to the south of and parallel to the 1.5km long Co-O Mine vein system and are still open in three directions.

Results include: Jereme with 1 metre @ 198.84 grams/tonne; New Catto Vein 1 with 2.7 metres @ 92.03 grams/tonne and 1.7 metres @ 55.77 grams/tonne; New Catto Vein 3 with 0.3 metres @ 75.39 grams/tonnes; and New Catto Vein 5 with 1.9 metres @ 79.05 grams/tonne.

A new resource estimate is due for completion by the end of the month.