Griffin Mining starts production at Caijiaying's Zone II

(Sharecast News) - Griffin Mining said on Tuesday that it has started production from Zone II at its Caijiaying Mine, marking a key milestone in the project's commissioning and regulatory approval process.

The AIM-traded company confirmed that the first production blast in Zone II was successfully completed on 20 April, following the completion of all statutory mine development works on 15 April.

That included 19.4 kilometres of development and 625 metres of ventilation shafts, in line with Chinese regulatory requirements.

Griffin said ore was now expected to be mined continuously from Zone II for the rest of the current mining licence, which runs through to 2054, providing a second long-term source of ore at the Caijiaying operation.

"This is a proud and momentous day for the company, its shareholders, the Caijiaying Mine and its staff and contractors," said chairman Mladen Ninkov.

"Its importance cannot be overstated as the Caijiaying Mine moves to a second source of ore to 2054.

"I am delighted for all concerned."

At 1351 BST, shares in Griffin Mining were up 4.95% at 304.35p.

Reporting by Josh White for Sharecast.com.

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