21/09/2009 - 17:16

Gryphon hits 1moz gold mark at Banfora

21/09/2009 - 17:16

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Subiaco-based Gryphon Minerals has surpassed the 1 million ounce resource mark at its flagship Banfora gold project in Burkina Faso.

Subiaco-based Gryphon Minerals has surpassed the 1 million ounce resource mark at its flagship Banfora gold project in Burkina Faso.

The gold explorer today released an update of its inferred resource estimate for the Nogbele and Fourkoura deposits, which total 1.1 million contained gold ounces at a grade of 2.4 grams per tonne.

Both deposits are within the Banfora project.

Gryphon said there was potential to increase the resource as mineralisation existed below and alongside the deposit.

It added that resource is shallow with 90 per cent above 100 metres depth.

The company will undertake a 10,000 metres drilling program at both deposits over the coming weeks to expand the resource.

Shares in Gryphon closed down 0.5 cents at 45c today.

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