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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 has more high grade gold hits at Banfora Gold Project

Friday, August 21, 2009

Investors watching news from Gryphon Minerals (ASX: GRY) could be excused for thinking that high grade drill results are the norm each time the company puts a hole in the ground at the Banfora Gold Project in Burkina Faso.

With these results, it appears to be so.

Recent diamond and Reverse Circulation resource drilling from the Nangolo target at Banfora, has intersected high grade gold mineralisation, within and outside of the current defined resource at the Nogbele gold deposit.

A new zone 800 metres further to the east of the current defined resource where results include 8m @ 4.43g/t & 24m @ 2.75g/t gold. Significant rock chip’s of up to 90g/t gold were found in this immediate area also highlight the potential for further mineralised zones and demand immediate follow up drilling

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

Gryphon expects a new resource estimate in the second half of 2009 after the completion of this drilling campaign.

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