the most frustrating thing here is that the mgmt keep spruiking timeframes that they themselves set and cant keep. Its no wonder that the SP is in nomans land.
NOVEMBER 2012 3.5Mtpa open pit mining operation —Conventional Carbon In Leach (CIL) processing plant Further metallurgical test work has been completed on various ore types and provides further confirmation of the excellent metallurgical recoveries from the original master composite test results Capital and operating cost estimates together with reserve recoverability are underway for the optimised case in order to support completion of DFS by the end of 2012
DECEMBER 2012 Bankable Feasibility Study (“BFS”) and Environmental and Social Impact Assessment (“ESIA”) on the initial 2.0Mtpa Operation on track for completion in early 2013. Followed immediately by commencement of permitting in February.
january quarterly 2012 Tijirit Gold Project, Mauritania With the completion of an initial structural interpretation drill program, ongoing mapping and geophysical and geochemical programmes Gryphon continues to develop its geological understanding of the Tijirit project. Previous historical (Shield Mining Ltd) drilling conducted on the project area have focussed on banded iron formation (BIF) hosted mineralisation, however broad 50 to +100 metre wide zones of alternated ‘halo’ mineralisation show similarities to mineralised greenschist at the adjacent Tasiast Gold Mine that develop peripheral and along strike to the main ore body at Tasiast. A 30,000 metre RC/DD drill campaign has commenced to test these broad mineralised ‘halo’ zones as well as several new previously untested areas within the project. The company is very excited by this upcoming program which will look to test the first 10 highly prospective gold targets over the 1,400 square kilometres Tijirit Gold Project. Drill results will be made available at the earliest opportunity.
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april quarterly 2012
The Company?s maiden 30,000 metre RC/DD drill campaign continues to test these broad mineralised „halo? zones as well as the first 10 highly prospective gold targets over the 1,400km2 Tijirit Gold Project. Samples from the first of these targets have been sent to the lab for assaying and results due during Q2 2012.
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june quarterly 2012 First pass drilling completed on initial targets at Tijirit Gold Project, samples sent to assay labs, results expected in the September quarter.
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sept quarterly 2012
Tijirit Gold Project, Mauritania The Company?s maiden 30,000 metre RC/DD drill campaign has now been completed on the property testing the company?s first 5 target areas and drill results are anticipated during the December quarter 2012. A geochemical auger programme has also commenced over the Tijirit Project area.
GRY Price at posting:
58.5¢ Sentiment: Hold Disclosure: Held
