Gryphon Minerals confirms mineralisation at Nogbele gold deposit

THE DRILL SERGEANT: Gryphon Minerals (ASX: GRY) has released infill Reverse Circulation (RC) drilling results from the northern portion of the Nogbele gold deposit, part of the company’s Banfora gold project in Burkina Faso, West Africa.

“These latest drill results confirm the high grade zones and grade continuity at Nogbele North and once again demonstrate the world class nature of the Banfora gold project,” Gryphon Minerals managing director Stephen Parsons said in the company’s announcement to the Australian Securities Exchange.

“These high grade shallow oxide zones will be targeted in the early years of mine production for enhanced economics.

“There is 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.”

Gryphon’s latest drilling results are from ongoing Reverse Circulation (RC) drilling programs the company is conducting at the northern end of the Nogbele gold deposit.

Drilling is infill, targeting shallow mineralisation down to 30m vertical depth.

Gryphon explained that mineralisation at the Nogbele gold deposit outcrops from surface and remains open along strike and down dip and that the current drill pattern was conducted on a close spaced mining grid pattern.

The company considers the drilling has successfully confirmed grade and lode continuity, geological and resource models and has allowed it to evaluate the parameters required for future grade control drilling as part of its mine planning process.

 

Location of drill results at Nogbele gold deposit. Source: Company announcement

 

Greater than 50 gram per metre intersects from infill drilling at the Nogbele gold deposit includes:

–    4 metres at 34.34g/t gold from 30 metres;
 
–    4m at 33.04g/t gold from 26m;

–    4m at 32.73g/t gold from 14m;

–    2m at 61.05g/t gold from 32m;

–    5m at 19.23g/t gold from 7m;

–    7m at 12.33g/t gold from 24m;

–    5m at 15.77g/t gold from 31m;

–    4m at 13.08g/t gold from 32m; and

–    4m at 12.92g/t gold from 2m.

Gryphon said the results it has received to date have confirmed the validity of the company’s current geological model at Nogbele North and have reinforced its geological expectations in both continuity and grade at the deposit.

The results are being incorporated into a local estimation for validation of the existing resource model.

The results will also be used to evaluate and optimize of the current grid spacing and composite length for eventual grade control drilling.