Gryphon adds further Stinger to Banfora tale
THE DRILL SERGEANT: Gryphon Minerals (ASX: GRY) has received infill and step out RC and DD drilling results from shallow multiple zones at the Stinger Mineralised Corridor, at the company’s Banfora gold project in Burkina Faso, West Africa.
The latest drilling results are from Reverse Circulation (RC) and Diamond drilling programs being conducted at Gryphon’s new Stinger gold deposit located approximately 10 kilometres to the east of the Nogbele gold deposit.
Drill results are from the main Stinger mineralised zone as well as two more parallel mineralised zones located within a few kilometres to the west of Stinger and within what the company has labelled the ‘Stinger mineralised corridor’.
Gryphon said the results from the main Stinger mineralised zone are a combination of step out and infill it designed to target shallow mineralisation down to approximately 150 metres vertical depth.
Stinger gold deposit selection of drill holes. Source: Company announcement
Mineralisation at the Stinger gold deposit sub-crops at surface and continues to be open along strike and down dip with drilling ongoing.
“These latest drill results once again demonstrate the world class nature of the Banfora gold project,” Gryphon Minerals managing director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.
“The results from these parallel zones are exciting as they have potential to add further shallow gold ounces to future resource growth at the Banfora gold project.
“We look forward to further drill results including new regional results in the coming weeks as well as the completion of the Definitive Feasibility Study on Banfora, and the Pre-Feasibility Studies on the additional heap leach potential.”
Gryphon recently announced an Independent JORC and NI43-101 compliant resource estimate of 4.5 million ounces gold at the Banfora gold project.
Of this the Stinger gold deposit maiden inferred resource estimate contributed 9.5 million tonnes at 1.8 grams per tonne gold for 560,000 ounces of gold (at 0.9g/t cut-off).
The company said it considers this to be an interim resource estimate and these latest drill results will be included in its next resource estimate.
Stinger is currently being in-fill RC and diamond drilled on 40m by 20m spacings to bring it into the measured & indicated resource category as well undergoing as step out and deeper drilling from 100m to 150m vertical depth to increase the size of its overall resource estimate.
Gryphon is currently conducting a Definitive Feasibility Study (DFS), which proposes a gold mill and process plant to be located in the vicinity of the Nogbele gold deposit located approximately 10km to the west of the Stinger deposit.
The DFS anticipates Stinger gold mineralisation will be trucked to the central mill and processing plant.
The company is undertaking a detailed review on a potential staged plus-2 million tonnes per annum start-up operation that could be up-scaled to 4Mtpa at a later date.
This review is to run in parallel with the current DFS and Gryphon expects to announce results before the end of the year.