QUEENSLAND EPITHERMAL GOLD & PROPHYRY COPPER PROJECT
The company announce as at 5 July 2018 that it has entered into an earn-in agreement (EIA) with Ellenkay Gold Pty Limited (Ellenkay) regarding two exploration projects in Central Queensland, Australia.
The Hill 212 (EPM 26217) exploration project is an epithermal gold-silver opportunity approximately 30km east of Mt Coolon. The Mt Clark West (EPM 26008) exploration project is a porphyry copper-gold opportunity approximately 24km northwest of Nebo. Both projects have well defined drill targets generated through previously completed geochemical and geophysical work programs.
Ellenkay currently has a 100% interest in both projects and under the terms of the EIA, Medusa may earn an equity position of up to 90% in either or both projects by managing and funding work programs through to the completion of a Pre-Feasibility Study.