Gold Exploration in West Africa

[FL]

Gryphon (Sydney: GRY) hits big in Burkina Faso

from: http://www.proactiveinvestors.com.au/companies/news/14877/gryphon-minerals-hits-more-high-grade-near-surface-gold-in-burkina-faso-14877.html

Gryphon Minerals hits more high grade near surface gold in Burkina Faso

Wednesday, March 23, 2011 by John Phillips
Gryphon continues to deliver bumper gold hits from the satellite Samavogo deposit in West Africa, including the latest 10m at 6.21g/t gold hit. The defining factor is the latest discoveries are outside the current 1.5 million gold resource at Banfora. Gryphon continues to deliver bumper gold hits from the satellite Samavogo deposit in West Africa, including the latest 10m at 6.21g/t gold hit. The defining factor is the latest discoveries are outside the current 1.5 million gold resource at Banfora.

Gryphon Minerals (ASX: GRY) reverse circulation and diamond drilling has delivered some top gold hits at the Samavogo satellite discovery, part of the Banfora Gold Project in Burkina Faso, located in the exploration red hot area of West Africa.

Highlights from the step out, infill and down dip drilling include:

- 10 metres at 6.21 grams per tonne (g/t) gold from 93 metres;
- 6 metres at 9.41g/t gold from 102 metres;
- 5 metres at 11.23g/t gold from 131 metres; and
- 7 metres at 4.92g/t gold from 131 metres.

Gryphon is now moving towards a maiden resource estimate for Samavogo, which most importantly remains open along strike and down dip.

What is so important about the Samavogo discovery is that its outside of the current known resources of; 21 million tonnes at 2.2g/t for 1.5 million gold ounces.

The company now believes that the drill results released to date confirm the potential for Banfora to host world class gold mineralisation similar to other major deposits in West Africa.

Currently exploration is targeting extensional zones along the margins of the intrusive in a similar geological setting to Randgold Resources (LON: RRS) 4.2 million gold ounce Tongon Gold Deposit, which is just 30 kilometres south.

Other nearby mines includes Syama with 5 million gold ounces mined and with 6.5 million gold ounces in resources, and Morila with 6.5 million ounces.

Adding to the prospectivity is that only the first 3 kilometres of a major 12 kilometre shear zone has been tested.

The total project area covers 1200 square kilometres.

In other Gryphon news, an exploration program has commenced at the company's Mauritania projects which include aeromagnetic surveying, soil geochemical sampling, geological mapping and diamond drilling.

[various disclaimers omitted]

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.

The Company recently announced a resource of 21Mt @ 2.2g/t for 1,500,000oz gold at its flagship Banfora Gold Project. The Banfora Project area covers 1,200km2 and mineralisation drilled so far is shallow with 80% less than 100 meters deep and with scope to extend this considerably deeper with further drilling.

The Company recently acquired fellow ASX company Shield Mining (ASX:SHX) which now gives Gryphon exposure to a number of highly prospective gold and copper projects including the Tijirit project adjacent to the world-class Tasiast Gold Mine.

Gryphon Minerals holds 10 million shares, approximately 15% of Renaissance Minerals Ltd (ASX:RNS), an Australian focussed gold explorer with over 3,000km2 of highly prospective and strategic landholdings in Western Australia and Alaska.
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