Gryphon (huh?) finds gold in Burkina Faso
Significant Gold Mineralization Intersected at Banfora
Significant gold minersalisation has been intersected during the recently completed reconnaissance style air-core drill program at Gryphon Minerals Ltd's Banfora Gold Project, Burkina Faso - West Africa.
The air-core drilling was completed over three main target areas (Nogbele North, South and Central) within the large grano-diorite intrusion known as the Nogbele (Nog-be-lee) Prospect. Targeted areas comprised of broad magnetic zones averaging 75m width, as well as high order magnitude soil geochemical anomalies. Drilling within each of the target areas intersected significant gold mineralization.
Gryphon Minerals’ managing director Steve Parsons said the company considers the results extremely significant as they confirm the correlation of large scale magnetite alteration and the association of significant gold mineralization. The new target areas identified from the air-core drilling will be followed up with RC and diamond drilling over the coming weeks.
Significant drill results include up to 41m at 2.12 grams per tonne (g/t) gold for the entire hole, and again reinforce the potential for the Banfora Gold Project to host large scale gold mineralization. Other significant drill results include:
· BNAC051 - 41m at 2.12g/t Au from 0m including 28m at 3.01g/t from 4m;
· BNAC063 - 7m at 3.49g/t Au from 8m including 1m at 17.51g/t Au from 11m;
· BNAC152 - 1m at 15.22g/t Au from 11m;
· BNAC225 - 12m at 1.33g/t Au from 20m; and
· BNAC226 - 4m at 3.50g/t Au from 12m.
A total of 7,107m were drilled with an average depth of approx 33m each, for the air-core program. At the Nogbele Prospect the average depth to the base of
oxidation (fresh rock) is approximately 60m below surface. Many of the drill holes stopped in hardened bands of quartz veins and several holes stopped in significant gold mineralisation.
“The company has commenced a Diamond and Reverse Circulation drill program to follow up on these air-core drill results and the previously announced RC drill results at the Nogbele Prospect,” said Mr Parsons.
Gryphon Minerals Ltd is exploring the Banfora Gold Project through an “earn-in” Joint Venture agreement which grants Gryphon Minerals the right to acquire 90% (Government 10%) of the project.
The Banfora Gold Project is located in the south-west of Burkina Faso, West Africa in a major gold producing district host to such world class gold deposits as Tongon (2.9 Moz) Syama (5.2 Moz) and Morila (5.6 Moz). The project area contains two granted exploration licenses and three exploration license applications covering a total of 1150sqkm and entirely encapsulating the highly prospective “Loumana” Birimian geological belt within Burkina Faso.
- 08 May 2006
