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LONDON, United Kingdom -- Medusa Mining Ltd. said it has obtained permits and has begun preparations for drilling at the Lingig Porphyry copper project, which is expected to start by end of June.

"This 1974 discovery has encouraging mineralization characteristics and the drill program is designed to confirm and extend the earlier results laterally and at depth," Geoff Davis managing director of Medusa said.

"We believe that the Lingig porphyry copper project has the potential to be a significant discovery," Davis added.

• SingTel to offer Apple's iPhone to customers later this year
• Stockholders mtgs, gov’t data this week
• Shares close sharply lower on inflation, US concerns

• China wants new global monetary system
• Solons caution gov’t on privatization