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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	GRY
Latest Price:	1.34 (1.91% )
52-week High:	2.11
52-week Low:	1.13
Market Cap:	400.66M

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Gryphon Minerals Full Gryphon Minerals profile here

Gryphon Minerals (ASX: GRY) is focussed on advancing the Banfora Gold Project in Burkina Faso, West Africa as well as its pipeline of new projects in Mauritania.

Banfora is strategically located in a major gold producing district, which is host to 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 reveals high grade rock chips found at Banfora Gold Project, Africa

Friday, July 03, 2009

West African focussed gold developer Gryphon Minerals (ASX:GRY) has reported stunning rock chip sample grades up to 53.1 g/t at its Banfora Gold Project.

Interestingly, these were found along strike of the current resource. A new parallel structure was also identified where rock chips found graded 7.5g/t and 6.5g/t gold.

An ongoing drilling programme will test these new mineralised extensions over the coming weeks as well as along strike from the previously released drill intercept in BNRC823 of 24m @ 4.75g/t gold.

The current drilling programme will continue to target shallow high grade gold mineralisation (≈100 meters vertical depth) outside of the current inferred resources of 10.6Mt @ 2.4g/t for 820,000oz gold resource estimate.

Gryphon will release a new resource estimate in the second half of 2009 at the Banfora Gold Project.

Investors may recall the Banfora Gold Project is located in the south‐west of Burkina Faso, West Africa in a major gold producing district.

This is host to such world class gold deposits as Tongon (4.2Moz) Syama (5 Million oz Au mined & 6.5 Million oz Au in resources) and Morila (6.5Moz).

Gryphon's project is owned 100% by Gryphon Minerals and contains contiguous exploration licenses covering approximately 1150km2 of a major gold district. The project is easily accessible by road and in close proximity to the town of Banfora and the major city of Bobo Diolasso. Grid power is located approximately 30km from the eastern boundary of the project.

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