Medusa Mining (ASX:MML, LON:MML) has identified a "substantial pipeline" of resource prospects that could feed its Co-O gold mine operation in the Philippines.
It follows the completion of an exploration and tenement review by its Philippines operating business.
Over the last 11 years the miner has acquired a portfolio of tenements with prospects that range from 'greenfields' to 'resource definition' stage.
Currently, only the Bananghilig and Saugon deposits have resources apart from the Co-O mine, which is in operation.
Bananghilig is undergoing further geological work before scoping studies begin, while Saugon is yet to be prioritised with scoping.
Medusa said today it had now identified two high priority exploration areas.
These are the Co-0 mine environs - notably the NT series of veins, East Agsao and West Road 17 - and the Guinhalinan gold prospect.
It has also reduced the tenement area to around 489 square kilometres, from around 806 square kilometres.
Geoff Davis, Medusa chief executive, said: "Our core tenements have many years of exploration ahead as our substantial pipeline of prospects is systematically assessed, and more likely to be identified over time.
"Rationalisation of our tenement areas has been undertaken now that sufficient regional to detailed knowledge is available regarding prospectivity, as well as considerations such as competing land use and accessibility.
"This will reduce our holding costs and administrative requirements."
