TIDMGFM
RNS Number : 9441X
Griffin Mining Ld
15 December 2010
Griffin Mining Limited
New Drilling Results from Caijiaying
15th December 2010
Highlights:
-- Currently Mined Zone III Open in All Directions
-- New Zone II Resource Expected
Griffin Mining Limited ("Griffin") is pleased to announce some
of the latest drilling results from its 2010 drilling programme at
Zone III and in the area linking Zone II & III approximately
1.5 km south of Zone III at the Caijiaying Zinc-Gold Mine. This
drilling has provided additional data for a revised resource
estimate which is expected to significantly increase the mineral
resources at Caijiaying. In addition, the new resource at Zone II,
which is an extension of that existing deposit being mined at Zone
III, may allow for a significant expansion in mining activities at
Caijiaying in the future.
Significant results from Zone III include:
24.52 metres @ 13.3% Zinc, 0.9% Lead 76.26% Silver & 2.36
g/t Gold
35.55 metres @ 10.3% Zinc, 0.3% Lead 62.57% Silver & 0.3g/t
Gold
26.0 metres @ 8.5% Zinc, 0.6% Lead 71.86% Silver & 0.204 g/t
Gold
29.24 metres @ 7.7% Zinc, 0.6% Lead 57.45% Silver & 0.13 g/t
Gold
59.8 metres @ 6.2% Zinc, 0.2% Lead 22.48% Silver & 1.41 g/t
Gold
61.4 metres @ 5.1% Zinc, 0.1% Lead 22.63% Silver & 1.51 g/t
Gold
29.6 metres @ 7.0% Zinc, 0.8% Lead 32.15% Silver & 1.97 g/t
Gold
20.0 metres @ 7.1% Zinc, 0.1% Lead 17.68% Silver & 1.48 g/t
Gold
27.9 metres @ 5.9% Zinc, 0.2% Lead 21.02% Silver & 0.28 g/t
Gold
27.5 metres @ 5.3% Zinc, 0.5% Lead 29.55% Silver & 0.79 g/t
Gold
28.7 metres @ 5.0% Zinc, 0.1% Lead 55.52% Silver & 2.32 g/t
Gold
17.08 metres @ 6.0% Zinc, 0.1% Lead 35.44% Silver & 1.18 g/t
Gold
Significant results from Zone II & III linkeage area
include:
34.0 metres @ 4.0% Zinc, 0.2% Lead 20.17% Silver & 0.09 g/t
Gold
22.0 metres @ 4.0% Zinc, 0.3% Lead 10.61% Silver & 0.11 g/t
Gold
8.0 metres @ 7.1% Zinc, 1.3% Lead 30.38% Silver & 0.11 g/t
Gold
Drilling activity was increased in 2010 with up to six rigs
operating underground at Zone III and three rigs operating on the
surface between Zone II and Zone III.
On going step-out and infill underground drilling has continued
to extend the Zone III mineralisation in all directions and remains
open to the north, south and at depth. Importantly, some of the
thickest and highest grade intercepts to date have been returned
from the deepest drilling which indicates that Zone III maintains
continuity with depth, potentially strengthening in areas such as
Qing Long Lode.
Drilling from surface in the area between Zones II and III
intersected a number of new zones of mineralisation and extended
other previously identified zones. All of the surface drilling data
between Zone II and Zone III will be incorporated into a new Zone
II mineral resource estimate. Mineralisation at Zone II remains
open to the north and at depth. The positive results from the 2010
surface drilling programme have increased confidence that Zone II
and Zone III are one continuous area of mineralisation.
Highlights of the drilling programmes are as follows.
hole ID From To Interval Zn Pb Ag Au Target
meteres meteres meteres % % g/t g/t
Qing Long
UGCJY-1865 54.2 114 59.8 6.2 0.2 22.48 1.41 Deeps
Qing Long
UGCJY-1869 56.7 118.1 61.4 5.1 0.1 22.63 1.51 Deeps
Qing Long
Including 93.8 98 4.2 14.9 0.2 30.95 0.17 Deeps
Qing Long
Including 113 118.1 5.1 21.5 0.3 61.49 1.46 Deeps
Qing Long
UGCJY-1641 122.3 139.38 17.08 6.0 0.1 35.44 1.18 South
Qing Long
UGCJY-1589 96.81 126.05 29.24 7.7 0.6 57.45 0.13 South
Qing Long
UGCJY-1589 82.56 91.67 9.11 7.8 0.3 19.65 0.11 South
Qing Long
UGCJY-1699 118.35 146.25 27.9 5.9 0.2 21.02 0.28 South
Inf
Resource
UGCJY-1730 100.09 128.79 28.7 5.0 0.1 55.52 2.32 Deeps
Inf
Resource
UGCJY-1902 93.4 99 5.6 10.4 0.6 265.43 0.23 Deeps
Xiao Long
UGCJY-1807 17 37 20 7.1 0.1 17.68 1.48 East
Xiao Long
UGCJY-1888 0 35.55 35.55 10.3 0.3 62.57 0.30 East
Zone II/
Zone III
RC-166 46 80 34 4.0 0.2 20.17 0.09 corridor
Zone II/
Zone III
Including 57 59 2 10.9 0.5 93.00 0.10 corridor
Zone II/
Zone III
Including 65 74 9 6.6 0.1 15.10 0.21 corridor
Zone II/
Zone III
RC-188 0 16 16 1.7 2.7 110.83 0.23 corridor
Zone II/
Zone III
RC-188 32 123 91 2.5 0.6 15.51 0.17 corridor
Zone II/
Zone III
RC-188 45 53 8 7.1 1.3 30.38 0.11 corridor
Zone II/
Zone III
RC-189 51 73 22 4.0 0.3 10.61 0.11 corridor
UGCJY-1717 0 29.6 29.6 7 0.8 32.15 1.97 Qing Long
UGCJY-1690 0 27.5 27.5 5.3 0.5 29.55 0.79 Qing Long
UGCJY-1687 0 24.52 24.52 13.3 0.9 76.26 2.36 Qing Long
UGCJY-1599 33 59 26 8.5 0.6 71.86 0.204 Ju Long
With the recommencement of mining, underground drilling will
also recommence, targeting Qing Long South, Qing Long Deeps, Ju
Long North and Xiao Long East lodes. Underground drilling will
undertake infill and resource definition drilling within Zone III.
Surface drilling is scheduled to restart in April 2011 and will
continue to target the Zone II/Zone III corridor.
The information in this report that relates to the 2010
exploration results and mineral resources is based on information
compiled by Mr Luke Marshall BSc Geology, Member AIG. .Mr. Marshall
is a full time employee of Hebei Hua Ao Mining Industry Company
Limited, a subsidiary of Griffin Mining Limited. Mr. Marshall has
sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity which he has undertaking to qualify as a Competent Person
as defined in the 2004 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves' (the JORC Code). Mr Marshall consents to the inclusion in
the report of the matters based on his information in the form and
context in which they appear.
Mladen Ninkov, Griffin's Chairman, commented on these
developments as follows: "These new drilling results only confirms
what the Company has been stating since drilling began at
Caijiaying, that this is a large, mineralized system which the
Company has only just begun to understand and which will provide an
extraordinarily long life mining operation, which at these
commodity prices, will provide returns to shareholders which they
so richly deserve. I look forward to announcing further good news
in the near future."
Further information
Griffin Mining Limited:
Mladen Ninkov (Chairman)
Roger Goodwin (Finance Director ) +44 (0)20 7629 7772
Panmure Gordon (UK) Limited +44 (0)20 7459 3600
Dominic Morley
Hannah Woodley
Griffin Mining Limited's shares are quoted on the Alternative
Investment Market (AIM) of the London Stock Exchange (symbol
GFM).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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