GRY - Gryphon Minerals

Just spotted this one this morning announcing what seems to be very impressive gold grades from an exploration project in West Africa.

Intersections include:

24m @ 2.64g/tn from 8m including
12m @ 3.37g/tn from 8 m

Other grades equally impressive.

The Banfora Gold 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 Million oz) Syama (5.2 Million oz) and Morila (5.6 Million oz). The project area contains two granted exploration licenses and three exploration license applications covering a total of 1150km².

The Project area is easily accessible by road and in close proximity to the town of Banfora. A 100km sealed road connects the project to the city of Bobo Diolasso and a further 350km to Burkina Faso’s capital city Ouagadougou. Grid power is located only 30km from the eastern boundary of the project.

Chart wise, not really much to tell. Very choppy, off it's lows....

Might be worth keeping an eye on. More to follow....

www.gryphonminerals.com.au

This has been suspended for the past 2 days pending ann.

Ann this am that they have made a placement to NEM of 7 mil shares at $0.32. Not sure what % of company that is atm, but not much.

This is currently a 3c premium to it's last price. I don't think I've ever heard of a placement at a premium to it's sp. Surely the company would be happy with that.

NEM must be pretty sure that this is going to get off the ground. Will be interesting to see where it goes from here.

About bloody time for something to happen on this one!!

Not sure what the share placement is all about, but it gets the thumbs up from me.

BraceFace said:

About bloody time for something to happen on this one!!

Not sure what the share placement is all about, but it gets the thumbs up from me.

Click to expand...

How long have you held it BF?

I haven't bought in yet. Waiting for some more details from the project. If the grades keep coming in as has been then it'll be worth a punt. Gotta like that NEM is on board.

If you've held it for a year, you'd be happy, even with the volatility. Now up 50% for the year.

As you would expect, opened at the placement price of $0.30.

have been holding this since may 06
when the market got correction...
now finally ....
today news is really encouraging...
seems Newmont trusts this company that well...
hm... will hold and see what happen next

powerkoala said:

have been holding this since may 06

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Ouch! :22_yikes:

You would have lost 50% in a few days.

Well done for holding on! Maybe you should have averaged down?

Good luck. Hopefully they can eventually pull a 5 m oz au resource out of the hat?

yes, in fact almost 60% lost..
yet, still holding it till now
well, seems newmont also agree with me though
LOL

hm.. now mbl become holder too
thinks good news for gry
let see what happen next

kennas said:

This has been suspended for the past 2 days pending ann.

Ann this am that they have made a placement to NEM of 7 mil shares at $0.32. Not sure what % of company that is atm, but not much.

This is currently a 3c premium to it's last price. I don't think I've ever heard of a placement at a premium to it's sp. Surely the company would be happy with that.

NEM must be pretty sure that this is going to get off the ground. Will be interesting to see where it goes from here.

Click to expand...

NEM now have 10% of the company. That is a decent investment in an explorer, with some good grades.

nice move today
looks like few seller left..
let see what happen next

Yes, see post no 4 chart compared to today.

Looks like a break through some pretty tough traffic.

kennas this one looks like a goer, maybe the stablemate (SRI) can get in on the act too. The Newmont factor again. Up 6% today.

buyer side looks huge today
is it due to wise owl recommendation?

just broke 52week record high
will it be blue sky?
seems wise owl suggestion is affecting market

What did wise owl say?

BraceFace said:

What did wise owl say?

Click to expand...

52weeks target at 60c
strong buy

do your own research though
i'm not recommending anything

Announcement out this morning - High Grade Drill Results for Banafora Gold Project.

Hey Spotty,

I just jumped in this - looks 2b trading in a nice upwards channel ever since the placements for Newmont and Macquarie Bank in mid December.

Kickin drill results especially that 65.5g/t Au over 4m!!!

With the stale bulls mostly shaken out now, hopefully the sp will be up to the top of the channel

Thanks for the chart wahoo - very neat.

Not quite the reaction I was expecting to that announcment but perhaps we did get rid of a few more stale bulls and we can enjoy a nice ride up to that target of 60c.

From Minebox:

High grade results at Banfora

Burkina Faso


Gryphon Minerals Ltd has announced more promising results from the ongoing Reverse Circulation drill program being undertaken at the highly prospective Banfora Gold Project, Burkina Faso - West Africa.

Results recently released are from exploration style “step out” drilling targeting gold mineralization within the northern zone of the Nogbele Prospect. Within the northern zone gold mineralization occurs within multiple parallel and sub-parallel zones that include broad hematite, silica and pyritic altered zones, sericitic schist’s and lode quartz veins, within an area of weak to strong hemitite alteration within the Nogbele granodiorite intrusion.

Significant drill results include:
· BNRC330 - 3m at 11.15 grams per tonne (g/t) gold (Au) from 2m;
· BNRC333 - 4m @ 11.01g/t Au from 10m; and
· BNRC334 - 4m @ 65.45 Au from 32m.

From previous drilling at the Nogbele Prospect the Company has now defined at least seven mineralised gold zones with a combined strike length in excess of five kilometres. Drilling is targeting several of these mineralized zones with infill and step out drilling, as well as several new untested targets within mafic and sediment lithologys adjacent the Nogbele granodiorite.

This current and on going phase of exploration will consist of approximately 10,000 metres of Reverse Circulation drilling targeting gold mineralized zones at the Nogbele and Fourkoura Prospects. The Fourkoura Dolerite Prospect is located only 7.5km to the south east of Nogbele, where previous drill intersections included 16m at 9.85g/t Au from 32m.

The company has also commenced a regional soil geochemical sampling programme designed to cover a significant portion of the Banfora Gold Project that has been previously unexplored.

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 (3.2 Moz) Syama (6.5 Moz resources, 5.0 Moz mined) and Morila (6.5 Moz). The project area covers a total of 1,150sqkm , and entirely encapsulates the highly prospective “Loumana” Birimian geological belt within Burkina Faso.