Last checked at 16 Dec 2010 14:11
Griffin Mining Limited
The "Drilling Results from Caijiaying" announcement of Griffin Mining Limited released at 07.00 on 15 December 2010 under RNS No 9441X has been amended to reflect a correction to the Silver grades which were shown as % instead of g/t in the summary table. The grades were correctly shown in the full table.
All other details remain unchanged. The full amended text is shown below
New Drilling Results from Caijiaying
16th 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 g/t Silver & 2.36 g/t Gold
35.55 metres @ 10.3% Zinc, 0.3% Lead 62.57 g/t Silver & 0.3g/t Gold
26.0 metres @ 8.5% Zinc, 0.6% Lead 71.86 g/t Silver & 0.204 g/t Gold
29.24 metres @ 7.7% Zinc, 0.6% Lead 57.45 g/t Silver & 0.13 g/t Gold
59.8 metres @ 6.2% Zinc, 0.2% Lead 22.48 g/t Silver & 1.41 g/t Gold
61.4 metres @ 5.1% Zinc, 0.1% Lead 22.63 g/t Silver & 1.51 g/t Gold
29.6 metres @ 7.0% Zinc, 0.8% Lead 32.15 g/t Silver & 1.97 g/t Gold
20.0 metres @ 7.1% Zinc, 0.1% Lead 17.68 g/t Silver & 1.48 g/t Gold
27.9 metres @ 5.9% Zinc, 0.2% Lead 21.02 g/t Silver & 0.28 g/t Gold
27.5 metres @ 5.3% Zinc, 0.5% Lead 29.55 g/t Silver & 0.79 g/t Gold
28.7 metres @ 5.0% Zinc, 0.1% Lead 55.52 g/t Silver & 2.32 g/t Gold
17.08 metres @ 6.0% Zinc, 0.1% Lead 35.44 g/t 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 g/t Silver & 0.09 g/t Gold
22.0 metres @ 4.0% Zinc, 0.3% Lead 10.61 g/t Silver & 0.11 g/t Gold
8.0 metres @ 7.1% Zinc, 1.3% Lead 30.38 g/t 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 | ||
UGCJY-1865 | 54.2 | 114 | 59.8 | 6.2 | 0.2 | 22.48 | 1.41 | Qing Long Deeps |
UGCJY-1869 | 56.7 | 118.1 | 61.4 | 5.1 | 0.1 | 22.63 | 1.51 | Qing Long Deeps |
Including | 93.8 | 98 | 4.2 | 14.9 | 0.2 | 30.95 | 0.17 | Qing Long Deeps |
Including | 113 | 118.1 | 5.1 | 21.5 | 0.3 | 61.49 | 1.46 | Qing Long Deeps |
UGCJY-1641 | 122.3 | 139.38 | 17.08 | 6.0 | 0.1 | 35.44 | 1.18 | Qing Long South |
UGCJY-1589 | 96.81 | 126.05 | 29.24 | 7.7 | 0.6 | 57.45 | 0.13 | Qing Long South |
UGCJY-1589 | 82.56 | 91.67 | 9.11 | 7.8 | 0.3 | 19.65 | 0.11 | Qing Long South |
UGCJY-1699 | 118.35 | 146.25 | 27.9 | 5.9 | 0.2 | 21.02 | 0.28 | Qing Long South |
UGCJY-1730 | 100.09 | 128.79 | 28.7 | 5.0 | 0.1 | 55.52 | 2.32 | Inf Resource Deeps |
UGCJY-1902 | 93.4 | 99 | 5.6 | 10.4 | 0.6 | 265.43 | 0.23 | Inf Resource Deeps |
UGCJY-1807 | 17 | 37 | 20 | 7.1 | 0.1 | 17.68 | 1.48 | Xiao Long East |
UGCJY-1888 | 0 | 35.55 | 35.55 | 10.3 | 0.3 | 62.57 | 0.30 | Xiao Long East |
RC-166 | 46 | 80 | 34 | 4.0 | 0.2 | 20.17 | 0.09 | Zone II/ Zone III corridor |
Including | 57 | 59 | 2 | 10.9 | 0.5 | 93.00 | 0.10 | Zone II/ Zone III corridor |
Including | 65 | 74 | 9 | 6.6 | 0.1 | 15.10 | 0.21 | Zone II/ Zone III corridor |
RC-188 | 0 | 16 | 16 | 1.7 | 2.7 | 110.83 | 0.23 | Zone II/ Zone III corridor |
RC-188 | 32 | 123 | 91 | 2.5 | 0.6 | 15.51 | 0.17 | Zone II/ Zone III corridor |
RC-188 | 45 | 53 | 8 | 7.1 | 1.3 | 30.38 | 0.11 | Zone II/ Zone III corridor |
RC-189 | 51 | 73 | 22 | 4.0 | 0.3 | 10.61 | 0.11 | Zone II/ Zone III 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).