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Gryphon Minerals finds more high grade gold at Banfora in Burkina Faso

Wed, 15 May 2013 11:00:00 +1000

Gryphon Minerals (ASX:GRY) is continuing to find high grade gold zones from drilling near surface at the 4.9 million ounce Banfora Gold Project in Burkina Faso project, that could materially enhance project economics.

Infill Reverse Circulation drilling was undertaken at the northern portion of the Nogbele gold deposit that literally produced some excellent grades and all important continuity including:

- 4m at 34.34g/t gold from 30 metres from 30 metres
- 4m at 33.04g/t gold from 26 metres from 26 metres
- 4m at 32.73g/t gold from 14 metres from 14 metres
- 2m at 61.05g/t gold from 32 metres from 32 metres

The high grade shallow oxide zones will be targeted in the early years of mine production, which also provides significant potential for the structural controls on these high grade zones to be pursued at depth to increase open pit reserves and potentially support underground studies.

The results highlight the continuity of the high grade mineralisation at the northern part of the Nogbele gold deposit.

The West African Banfora Gold Project sits on a massive 4.9 million ounces of gold resource base, is one of the largest undeveloped gold projects in West Africa.

The project is located in the south-west of Burkina Faso, West Africa, in a major gold producing district host to such world class gold deposits as Tongon (4.2Moz) Syama (6.5Moz) and Morila (6.5Moz).

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Gryphon Minerals to raise capital

Thu, 15 Nov 2012 09:40:00 +1100

Gryphon Minerals (ASX: GRY) has been granted a trading halt this morning by the ASX pending the release of capital raising details.

Gryphon's shares have been placed in pre-open.

The halt will last until the earlier of an announcement being made to the market, or the opening or trade on Monday 19th November.

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Gryphon Minerals strengthens management

Mon, 08 Oct 2012 11:40:00 +1100

Gryphon Minerals (ASX: GRY) has made two key appointments to its executive management team with the addition of Beth Michetti as chief financial officer and Mark Arundell as independent advisor to assist in the funding process of the Banfora Gold Project.

Michetti has more than 10 years experience in operational financial roles, working most recently as general manager of corporate & commercial services at Tronox, previously Tiwest Joint Venture, a joint venture that has developed a fully integrated titanium minerals processing project in Western Australia.

Meanwhile, Arundell has an extensive background in structuring domestic and cross border debt for project finance.

He has successfully advised a number of resource companies on project funding and brings with him an extensive network and capability in this area.

Steve Parsons, managing director of Gryphon Minerals, commented: “Beth’s wealth of leadership experience, in a financial context, and in the mining sector will complement an already strong management team at Gryphon.

“I am confident this team has the skills necessary to achieve the company’s ultimate goal to become a world class gold producer.

“The appointment of Mark comes at an important stage in our development. As we assess the various financing options available to us to determine the most appropriate funding structure for the development of the Banfora Gold Project, Mark’s experience in debt financing and getting a project ‘bank ready’ will be invaluable.

“Both appointments add to the depth and breadth of experience of our corporate team and complements the skills of our technical team, which has extensive experience in developing gold projects in West Africa.”

High grade gold up to 207.9g/t

Gryphon recently delivered exceptional high grade gold drill results of 13 metres at 69.9 grams per tonne (g/t) gold from 19 metres, including 4 metres at 207.9g/t gold, at its Banfora Gold Project in Burkina Faso.

Other highlights included 14 metres at 36.5g/t gold from 56 metres, including 4 metres at 125.1g/t gold, and 20 metres at 15.06g/t gold from 80 metres, including 4 metres at 72.4g/t gold.

The drill results are from the outcropping shallow multiple mineralised zones at the Nogbele gold deposit which remain open, along strike and at depth.

The drill results will be incorporated into a resource estimate update for the Definitive Feasibility Study on track for delivery by the end of 2012.

Drilling is continuing at the Nogbele gold deposit as well as the new Stinger deposit, with results due in the coming weeks.

Gryphon has also begun a detailed review on a potential staged plus-2 million tonne per annum "start-up" operation that would benefit from lower initial capital costs and could be up-scaled to 4 million tonnes per annum at a later date.

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Gryphon Minerals announces management change

Thu, 30 Aug 2012 13:10:00 +1000

Gryphon Minerals (ASX: GRY) has announced the resignation of Tim Holt as its Chief Financial Officer effective today - with the company wishing him well in his future endeavours.

Gryphon has now commenced the process of recruiting a suitable replacement - with Paul Hegarty, the company’s Financial Controller, assuming Holt’s responsibilities at this time.

Recently Gryphon has delivered some very positive news to the market, including the global resource estimate of 4.5 million gold ounces from the Banfora Gold Project in Burkina Faso.

The estimate comprises 56.4 million tonnes at 2.0g/t gold for 3.6 million ounces (at 0.9g/t cut off), and 49 million tonnes at 0.6g/t gold for 900,000 ounces of potential heap leach material at the Nogbele gold deposit (between 0.4g/t and 0.9g/t cut off).

A major plus for the company is that the resources are near surface, with 90% less than 150 metres deep. Mineralisation remains open along strike and at depth.

Exploration at Banfora continues at the Stinger gold deposit, where drilling has confirmed mineralisation continues outside of current resource wireframes.

Reverse circulation and diamond drilling is currently underway to bring the resource into the Measured and Indicated categories - with five rigs turning onsite.

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Gryphon Minerals: Van Eck Associates Corporation's stake increases to 11.03%

Tue, 28 Aug 2012 12:00:00 +1000

Gryphon Minerals (ASX: GRY) substantial shareholder Van Eck Associates Corporation, a highly-regarded U.S. fund manager, has increased its shareholding in Gryphon to 11.03% from in-kind transactions from GDXJ receiving a basket of securities including Gryphon Minerals.

Highlighting the potential of Gryphon, recent major milestones at its Banfora Gold Project in Burkina Faso include an increase in the gold resource by a stunning 2.5 million ounces – lifting it into a globally significant gold project status and into the mid-tier group of peers in terms of equivalent gold projects.

Banfora, one of the country’s largest undeveloped projects, hosts a JORC Resource across four deposits of 56.4 million tonne at 2 grams per tonne (g/t) for 3.6 million ounces of contained gold, with 2.2 million ounces of that in the higher confidence Measured and Indicated categories.

The remainder of the total Resource comes from the additional heap leach potential material at the Nogbele gold deposit, which hosts the extra 49.2 million tonnes at 0.6g/t for 0.93 million ounces of contained gold in the Inferred category.

For 2012 Gryphon has outlined a $30 million budget for exploration, along with a Definitive Feasibility Study to establish a multi-million ounce gold district at Banfora.

A Definitive Feasibility Study is due for completion in the second half of 2012 for an operation delivering over 200,000 ounces of gold per annum.

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Gryphon Minerals appoints Andrea Hall as non executive director

Mon, 13 Aug 2012 15:50:00 +1000

Gryphon Minerals (ASX: GRY) has appointed Andrea Hall as a non-executive director of the company, effective from 1 September 2012.

Hall’s skills are set to greatly assist the company as it transitions to a gold producer through the development of the Banfora Gold Project in Burkina Faso, one of the country’s largest undeveloped projects.

Hall, a chartered accountant and formerly a Perth-based partner within KPMG’s Advisory Services division, has more than 20 years of experience in internal and external audit, corporate governance, risk management and advisory services.

During her tenure at KPMG, she worked closely with many large organisations in mining and other sectors, including iron ore, nickel and gold producers, as well as managing the Perth-based finance team for WMC Resources.

Hall was the 2011 Chair of the WA Council for the Institute of Chartered Accountants, where she was an elected member for seven years.

She is currently a member of the Murdoch University Audit and Risk Committee and sits on the Board of Commissioners for Lotterywest.

Mel Ashton, chairman of Gryphon Minerals, commented on the key appointment: “We are delighted to have secured someone of Andrea’s experience and calibre to join the Gryphon Board.

“Andrea has significant audit, financial and corporate governance expertise and a depth of skills and experience that will greatly assist the company in transitioning into a gold producer.”

Last month Gryphon lifted the gold resource at its Banfora Gold Project by a stunning 2.5 million ounces – lifting it into a globally significant gold project status and into the mid-tier group of peers in terms of equivalent gold projects.

Gryphon has defined a JORC Resource for the four deposits within the Banfora Project of 56.4 million tonne at 2 grams per tonne (g/t) for 3.6 million ounces of contained gold, with 2.2 million ounces of that in the higher confidence Measured and Indicated categories.

The remainder of the total Resource comes from the additional heap leach potential material at the Nogbele gold deposit, which hosts the extra 49.2 million tonnes at 0.6g/t for 0.93 million ounces of contained gold in the Inferred category.

For 2012 Gryphon has outlined a $30 million budget for exploration, along with a Definitive Feasibility Study to establish a multi-million ounce gold district at Banfora.

A Definitive Feasibility Study is due for completion in the second half of 2012 for an operation delivering over 200,000 ounces of gold per annum.

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Gryphon Minerals continues to interest fund manager Van Eck Associates

Tue, 24 Jul 2012 12:00:00 +1000

Gryphon Minerals (ASX: GRY) substantial shareholder Van Eck Associates Corporation has taken up a further interest in the company, as it progresses the development of the Banfora Gold Project in Burkina Faso.

Van Eck, a highly-regarded U.S. fund manager, increased its shareholding in Gryphon to 9.93% after acquiring a further 3.5 million shares.

The fund manager has taken advantage of lower stock prices from the recent pull-back in equities prices to investor further funds in Gryphon.

Gryphon’s main focus is the completion of the Definitive Feasibility Study, which is due for completion later this year, and the development and construction of the Banfora project.

Banfora has a JORC Resource of 56.4 million tonnes at 2 grams per tonne (g/t) gold for a 3.6 million ounces of contained gold, with 2.2 million ounces of that in the higher confidence Measured and Indicated categories, identified at the Nogbele, Fourkoura, Samavogo and Stinger gold deposits.

Importantly, the potential is still high to continue building on this Resource base with mineralisation open along strike and at depth at each of these deposits.

The remainder of the total Resource comes from the additional heap leach potential material at the Nogbele gold deposit, which hosts the extra 49.2 million tonnes at 0.6g/t for 0.93 million ounces of contained gold in the Inferred category.

Preliminary results of above 90% average gold recoveries from recent column leach test work on bulk trench samples across three portions of the Nogbele gold deposit, targeting lower gold grade halo mineralisation, indicate a real potential for successful heap leach gold recovery.

Results of the heap leach studies are expected at the end of 2012, separate to the current Definitive Feasibility Studies

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Gryphon Minerals smashes guidance with 4.5Moz gold resource at Banfora

Mon, 09 Jul 2012 12:40:00 +1000

Reaching a resource estimate of 4.5moz of gold is no mean feat in itself, however, increasing it from 2moz demonstrates Gryphon is fast earning the accolade as one of the most successful new gold explorers in West Africa with one of the largest undeveloped gold projects in West Africa.

Gryphon Minerals: new gold discoveries at 2Moz Banfora to support pending Resource upgrade

Mon, 02 Jul 2012 11:03:00 +1000

The Stinger target at Gryphon’s strategically located Banfora Project in Burkina Faso looks likely to be a major new gold discovery similar to the Nogbele, Samavogo and Fourkoura discoveries, which combined host an Inferred Resource of 2Moz. Gryphon is expecting an upgraded Resource within weeks.

Gryphon Minerals’ highly prospective gold assets attract initial substantial shareholder

Thu, 28 Jun 2012 12:40:00 +1000

Gryphon Minerals (ASX: GRY) has added an initial substantial shareholder to its register with AMP Limited acquiring a 5.02% interest, as it moves closer to the completion of a Definitive Feasibility Study (DFS) for its wholly owned Banfora Gold Project in Burkina Faso.

The company is currently focused on the completion of the DFS, due for completion in the September quarter, and the development and construction of Banfora.

Gryphon’s strategy is to establish a multi-million ounce gold district at Banfora, which the company is in an ideal position to do.

Banfora is strategically located in the south‐west of Burkina Faso in a major gold producing district, which hosts Resolute Mining's (ASX: RSG) 11.5 million ounce Syama, Rangold Resources (LON: RRS) and AngloGold Ashanti's (ASX: AGG) 6.5 million ounce Morila and Rangold's 4.2 million ounce Tongon deposits.

The project has already reached the 2 million gold ounce milestone, hosting 29 million tonnes at 2.1 grams per tonne (g/t), of which the majority is less than 100 metres deep – while remaining open.

Last month Gryphon delivered average gold recoveries of 91% during metallurgical testwork at Banfora, improving the economics of the project.

The upside to this is that this level of gold recovery can be achieved using a simple conventional carbon in leach extraction process with only moderate reagent consumption.

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Gryphon Minerals: Substantial shareholder increases interest as DFS draws near

Fri, 08 Jun 2012 16:20:00 +1000

Gryphon Minerals (ASX: GRY) substantial investor Van Eck Associates Corporation has taken up a further interest in the company, as it progresses the development of the Banfora Gold Project in Burkina Faso.

Van Eck has increased its shareholding in Gryphon by 7.5 million shares, taking its total holding in the company to 8.91%.

Gryphon’s main focus is the completion of the Definitive Feasibility Study and the development and construction of the Banfora project.

Banfora has already reached the 2 million gold ounce milestone, hosting 29 million tonnes at 2.1 grams per tonne (g/t), of which the majority is less than 100 metres deep – while remaining open.

Last month Gryphon delivered average gold recoveries of 91% during metallurgical testwork at Banfora, improving the economics of the project.

Importantly, this level of gold recovery can be achieved using a simple conventional carbon in leach (CIL) extraction process with only moderate reagent consumption.

Gryphon is on track to deliver a new gold Resource estimate during the June quarter, while the Definitive Feasibility Study is expected to be released in the September quarter.

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Gryphon Minerals' 91% carbon in leach gold recoveries enhances Banfora economics

Tue, 15 May 2012 12:02:00 +1000

Gryphon Minerals’ Banfora Project is proving to be a standout in Burkina Faso, with gold recoveries of 91% placing the project at the upper end of the scale for West African gold deposits. Metallurgical testwork has shown that the Banfora gold mineralisation responds extremely well to conventional carbon in leach extraction.

Gryphon Minerals new COO to lead Banfora through DFS to development

Mon, 23 Apr 2012 13:00:00 +1000

Gryphon Minerals (ASX: GRY) non-executive director Steven Zaninovich has stepped up to the new role of chief operating officer to lead the development of the company’s Banfora Gold Project in Burkina Faso.

Zaninovich’s main focus with Gryphon will be to lead the successful completion of the Definitive Feasibility Study and the development and construction of the company’s Banfora Gold Project.

Banfora has already reached the 2 million gold ounce milestone, hosting 29 million tonnes at 2.1 grams per tonne (g/t), of which the majority is less than 100 metres deep - while remaining open.

Zaninovich has experience in the development of major gold projects in West Africa, with his most recent role being project director for Newmont Mining Corporation (NYSE: NEM), leading the development and construction of the $1 billion, 7 million ounce Akyem Gold Project in Ghana.

Other experience in West Africa includes Gold Fields’ (NYSE: GFI) Tarkwa Phase IV project, Ashanti Goldfields’ Bibiani Gold Mine, Redback’s Chirano Gold Mine, Ranger Minerals’ Damang Mine Expansion and Resolute Mining’s (ASX: RSG) Obatan Gold mine.

Zaninovich will step down as non-executive director of Gryphon to focus on his new role with the company.

Gryphon managing director Steve Parsons said Zaninovich was ideally placed for the role with experience in the area and in the company.

“Steven’s hands on operational experience, project development leadership and considerable recent West African gold experience will be invaluable as we move forward in the development of the Banfora Gold Project,” Parsons said.

“Steven will assume direct responsibility for driving the DFS through to completion and then overseeing the development, construction and commissioning, and production at Banfora.”

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Gryphon Minerals finds high grade gold zones at Nogbele Deposit in Burkina Faso

Wed, 07 Mar 2012 11:25:00 +1100

The gold discoveries at the Nogbele Deposit demonstrate the shallow and outcropping nature of the high grade zones, which is important in the “starter pit” designs of the Definitive Feasibility Studies, which are on track for a September 2012 quarter delivery.

Gryphon Minerals increases exposure to highly prospective gold assets in West Africa

Tue, 21 Feb 2012 09:00:00 +1100

Gryphon Minerals (ASX: GRY) has picked up a 6.72% equity stake in West African-focused gold explorer Papillon Resources (ASX: PIR), complementing its other strategic stakes including 13% in Tawana Resources (ASX: TAW) and 16% in Renaissance Minerals (ASX: RNS).

The company acquired nearly 16 million shares in Papillon for a total consideration of A$13.7 million between 23 May 2011 and 20 February 2012, providing an average entry price of $0.86.

The strategic investment provides Gryphon exposure to Papillon’s promising gold projects located in Mali, West Africa.

Papillon continues to unlock the massive potential of its Fekola gold project where it is aiming to deliver a maiden gold JORC Resource by mid-2012.

Recent drilling has delivered highlight intersections of 75 metres at 4.12 grams per tonne (g/t) gold from 104 metres, and 32 metres at 7.35g/t gold from 59 metres.

Highlighting the strategic location of the project, it is situated in the Mali West regional gold province, which has more than 22 million ounces of gold within 60 kilometres.

Other projects in the vicinity include Randgold Resources’ (LON: RRS) 11.5 million ounce Loulo project and AngloGold Ashanti's (NYSE: AU) 13.1 million ounce Sadiola project.

Gryphon managing director Steve Parsons said Gryphon’s stated strategy has always been to increase its exposure to quality gold assets in West Africa.

“While Papillon’s gold projects are still at a relatively early stage, we are attracted to their exploration potential,” he said.

Portfolio of highly prospective assets

“The equity stake in Papillon forms part of the portfolio of assets within Gryphon,” Parsons said.

Gryphon owns the Banfora Gold Project in Burkina Faso which has an Inferred JORC Resource of 29 million tonnes at 2.1g/t for 2 million ounces of gold.

The company is undertaking an aggressive $30 million exploration program and advancing Definitive Feasibility Studies.

Gryphon is assessing the potential for a 3.5 million tonne per annum open pit mining operation to produce in excess of 200,000 ounces of gold per annum.

The company is also continuing regional exploration on its other West African projects, including the Tijirit Gold Project adjacent to the Tasiast Gold Mine in Mauritania, and in Cote d’Ivoire and Liberia.

Cash-backed

Parsons said while Gryphon remains fully focused on rapidly advancing the Banfora Gold Project and its West Africa footprint, the company’s strong financial position gives Gryphon the ability to move quickly on opportunities which offer growth, without impacting existing activities.

At the end of the December quarter, Gryphon had around $83 million in cash reserves.

Indicating the strong investor backing Gryphon continues to receive, the company netted $58.5 million via a share placement in late November.

Gryphon Minerals discovers more West African gold in follow up drilling at Banfora

Thu, 16 Feb 2012 11:49:00 +1100

Stinger is emerging as a new gold target with a very large mineralised footprint, similar to other discoveries at the Banfora Gold Project. With $83m in cash - Gryphon remains well funded to aggressively explore and build its 2 million gold ounce bounty.

Gryphon Minerals boosts coffers by A$58.5m to progress Banfora gold project

Wed, 23 Nov 2011 11:13:00 +1100

Gryphon has received strong investor support for its recent share placement, which netted the company $58.5 million. The company is in prime financial shape to advance the Definitive Feasibility Study at its over 2 million gold ounce Banfora Gold Project.

Gryphon Minerals in trading halt pending capital raising announcement

Mon, 21 Nov 2011 10:50:00 +1100

Gryphon Minerals (ASX: GRY) has been granted a trading halt by the ASX pending the release of an announcement about a capital raising.

The company expects to make an announcement on or before the commencement of trading on Wednesday 23 November, 2011.

On November 18 Gryphon announced that it is continuing to intercept a string of gold discoveries at the Banfora Gold Project, which is located in the highly prospective west African country of Burkina Faso.

The broad nature and near surface characteristics of the strikes provide encouragment to the company as drilling is ongoing.

At the Samavogo Gold Deposit, the latest highlights include 18 metres at 4.65 grams per tonne (g/t) gold from 73 metres, and 23 metres at 3.56g/t gold from 127 metres.

Currently at Banfora six rigs are active ensuring a strong news flow of drilling results in the short term, with a Definitive Feasibility Study for a 3.5 million tonne per annum operation at the project well advanced.

Gryphon Minerals: broad near surface gold intersections continue in Burkina Faso, six rigs active

Fri, 18 Nov 2011 10:45:00 +1100

Gryphon Minerals (ASX: GRY) continues to intercept a string of gold discoveries at the Banfora Gold Project, which is located in the highly prospective west African country of Burkina Faso.

Where the latest gold discoveries become interesting for Gryphon is the broad nature and near surface characteristics of the strikes.

At the Samavogo Gold Deposit, the latest highlights include 18 metres at 4.65 grams per tonne (g/t) gold from 73 metres, and 23 metres at 3.56g/t gold from 127 metres.

These broad intersections are supported by higher grade hits such as 5 metres at 12.40g/t gold from 114 metres, and 6.96g/t gold from 18 metres.

Samavogo has an interim Inferred resource of 8.2 million tonnes at 2.0g/t for 520,000 gold ounces, which has major potential for an upgrade - due to the resource being calculated from just a fifth of the 15 kilometre long strike.

Steve Parsons, managing director commented on the positive news: “We are continuing to see shallow, high grade mineralisation throughout the Banfora Gold Project.

"Samavogo is shaping up to be an impressive gold deposit especially considering it is open at depth and along strike. These latest results support our expectation that Samavago could grow considerably beyond the current resource. ”

Banfora in total already hosts an Inferred JORC Resource of 29 million tonnes at 2.1g/t for 2 million ounces of gold.

Banfora: six rigs active, DFS advancing

Parsons continued, "We expect further significant growth at the Banfora Gold Project as our aggressive drilling programs continue at the Nogbele Deposit, the Fourkoura and Samavogo Satellite Deposits, plus our multiple other priority regional targets, including the new Stinger and Ouahiri Discoveries.”

Currently at Banfora six rigs are active ensuring a strong news flow of drilling results in the short term, with a Definitive Feasibility Study for a 3.5 million tonne per annum operation at the project well advanced.

Mauritanian projects adjacent to 21 million ounce mine

In other Gryphon news, an extensive 30,000 metre reverse circulation drilling campaign targeting gold at the Mauritanian based Tijirit Gold Project is commencing.

Providing a boost to the potential of the area, the project is located adjacent to Kinross Mining’s plus 21 million ounce gold mine.

Gryphon Minerals: Van Eck Associates Corporation lifts shareholding to 7.86%

Fri, 11 Nov 2011 12:40:00 +1100

Gryphon Minerals (ASX: GRY) substantial shareholder Van Eck Associates Corporation acquired 2,980,085 shares between 12 August and 25 October 2011.

New York-based investment manager Van Eck Associates now holds 23,577,483 shares representing a 7.86% interest in the company.

Gryphon delivered some very impressive gold intersections from the Banfora Gold Project in Burkina Faso on October 28, outlining a new zone of high grade gold.

Highlights included 68 metres at 3.86 grams per tonne (g/t) gold from just 12 metres, and 32 metres at 1.14g/t gold from 24 metres.

The Nogbele gold deposit is delivering, shallow, high grade mineralisation that is still open along strike and down dip.

Banfora is strategically positioned in a world class gold mining region which includes Randgold Resources’ (LON: RRS) Tongon (4.2 million ounces), Resolute Mining’s (ASX: RSG) Syama (5 million ounces mined and 6.5 million ounces in resources) and Anglo/Randgold’s Morila (6.5 million ounces).

Gryphon Minerals unfurls scorching 68m at 3.86g/t gold in Burkina Faso

Fri, 28 Oct 2011 10:21:00 +1100

Nogbele is delivering, shallow, high grade mineralisation that is still open along strike and down dip. Banfora is strategically positioned in a world class gold mining region which includes Tongon 4.2Moz, Syama 6.5Moz (and 5Moz mined) and Morila 6.5Moz deposits.

Gryphon Minerals moves closer to delivering milestone DFS for Burkina Faso gold project

Fri, 07 Oct 2011 15:56:00 +1100

With a Definitive Feasibility Study underway for the multi-million ounce gold project in Burkina Faso, plus more than $41 million in cash at hand, Gryphon Minerals is in a strong position to take advantage of the historically high gold price.

Gryphon Minerals makes new gold discovery near Banfora Gold Project in Burkina Faso

Tue, 13 Sep 2011 09:39:00 +1000

With a new discovery at Stinger just 10km east of Nogbele gold deposit and a planned processing plant near Banfora, Steve Parsons and his team at Gryphon would have to be excited by the potential this near surface discovery brings to its $30 million, 2011 exploration program.

Gryphon Minerals moves step closer to becoming first Australian gold producer in Burkina Faso

Wed, 31 Aug 2011 10:50:00 +1000

An independent engineering study has highlighted just how significant a gold producer Gryphon is on the road to becoming. Based on a 2.5mtpa operation, forecast production of +180,000oz per annum, at +2.6g/t gold at US$430/oz cash costs using a CIL plant, Gryphon is on track to become a major gold producer.

Gryphon Minerals appoints Timothy Holt as chief financial officer

Fri, 05 Aug 2011 16:43:00 +1000

Gryphon Minerals (ASX: GRY) has appointed Timothy Holt as chief financial officer.

Holt has a track record of more than 10 years senior operational finance experience with both Xstrata (LON: XTA) and BHP Billiton (ASX: BHP).

Holt will be replacing Brett Dunnachie who will remain with the organisation as company secretary.

Gryphon is progressing into mining studies, development and ultimately production at its Banfora Gold Project in Burkina Faso, and is looking to leverage its position to expand in West Africa.

The company is aiming to become a significant West African gold producer and the first Australian miner to produce gold in Burkina Faso.

In early 2011 Gryphon announced an increase to the JORC Inferred Resource estimate at Banfora, which now stands at 29 million tonnes at 2.1 grams per tonne (g/t) for 2 million onces gold.

Gryphon Minerals hits 8m at 38.75g/t gold from 68 metres in West Africa

Wed, 06 Jul 2011 10:43:00 +1000

RC and diamond step out and infill drilling has targeted shallow mineralisation as well as higher grade down dip extensions from multiple zones at the northern portion of the Nogbele Gold Deposit - and they did not disappoint with one intersection returning 8m at over 1 ounce per tonne gold.

Gryphon Minerals reaches milestone 2m oz JORC gold resource at Banfora in West Africa

Thu, 31 Mar 2011 11:07:00 +1100

The 520,000 oz maiden resource at the Samavogo deposit underlines the multiple target growth potential of the Banfora Gold Project. With drilling at the Nogbele deposit underway, Gryphon has begun an aggressive exploration program.

Gryphon Minerals hits more high grade near surface gold in Burkina Faso

Wed, 23 Mar 2011 11:13:00 +1100

Gryphon continues to deliver bumper gold hits from the satellite Samavogo deposit in West Africa, including the latest 10m at 6.21g/t gold hit. The defining factor is the latest discoveries are outside the current 1.5 million gold resource at Banfora.

Gryphon Minerals has BUY recommendation from Eagle Research with a A$2.20 target price

Thu, 03 Feb 2011 08:26:00 +1100

Gryphon Minerals is heading for production above 150,000 gold ounces per year from 2013, backed by a 3 million gold ounce resource at Banfora.

Gryphon Minerals new mining permits opposite 5m oz gold mine in West Africa

Thu, 20 Jan 2011 09:02:00 +1100

Two highly prospective mineral permits in West Africa have been issued to Gryphon Minerals (ASX: GRY), and are in an area of known gold with the 5 million gold ounce Ity Gold mine next door.

Adding to the potential, the 1.5 million gold ounce New Liberty deposit is along strike.

Gryphon has signed a strategic alliance with Tawana Resources (ASX: TAW), allowing Tawana to start exploration before the onset of the wet season in June 2011.

Under the agreement, Gryphon will assist Tawana with the identification, acquisition and exploration of mineral permits in West Africa.

As part of the deal, subject to shareholder approval, Tawana will issue Gryphon 100 million shares (Tawana last traded at $0.048), representing approximately 16% of the issued capital on an undiluted basis, and offer Gryphon a place on the board.

The highly prospective granted area has the potential to increase, with an additional three applications still pending.

If these applications are granted, the new total land coverage would be 3800 square kilometres in under-explored Archean and Birimian greenstone belts in Liberia.