Griffin Mining Ld Granting of Zone III PFA (8844J)
29 Dezember 2020 - 8:00AM
UK Regulatory
TIDMGFM
RNS Number : 8844J
Griffin Mining Ld
29 December 2020
8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y
6LX, United Kingdom
Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629
7773
E mail: griffin@griffinmining.com
Granting of Zone III PFA
27% Increase in Caijiaying Production Profile
29(th) December 2020
Griffin Mining Limited ("Griffin" or the "Company") is very
pleased to announce that following 2 years of capital development
and the installation of relevant underground services, the Chinese
Safety Bureau has granted the 3(rd) Stage Zone III Project Final
Acceptance Permit ("PFA"). This significant milestone extends the
underground mineable ore zone at the Caijiaying Mine from the
current 1175mRL down to the 1000mRL. This will enable the
underground operations in Zone III to profitably extract 1.1
million tonnes of Zinc-Gold ore per annum beginning 2021 compared
to the 820,000 tonnes of ore expected to be mined in 2020. This
represents a 27% increase in mineable ore production per annum.
Chairman Mladen Ninkov said "The successful securing of the
3(rd) Stage Zone III PFA is a quantum step achievement for the
Company as it provides a solid production foundation on which the
Caijiaying Mine can sustainably continue to increase the Zinc-Gold
ore production profile to its already completed 1.5mtpa processing
facilities. We now await the granting of the new Zone II mining
licence to increase the production profile even further and fulfil
the promise recognized by the shareholders by the Company's initial
discovery at Caijiaying."
Further information
Griffin Mining Limited Telephone: +44(0)20 7629 7772
Mladen Ninkov - Chairman
Roger Goodwin - Finance Director
Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
John Prior
Berenberg Telephone: =44(0)20 3207 7800
Mathew Armitt
Jennifer Wyllie
Deltir Elezi
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No. 596/2014
Griffin Mining Limited's shares are quoted on the Alternative
Investment Market (AIM) of the London Stock Exchange (symbol
GFM).
The Company's news releases are available on the Company's web
site: www.griffinmining.com
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END
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