http://au.news.yahoo.com/thewest/business/a/-/wa/9107728/gryphon-...

http://au.news.yahoo.com/thewest/business/a/-/wa/9107728/gryphon-jumps-on-banfora-upgrade/

Shares Issued 299,572,058
Market Capitalisation 593,152,675

Gryphon jumps on Banfora upgrade
The West Australian
March 31, 2011, 8:28 am

UPDATE 1.50pm: Shares in West Africa-focused gold explorer Gryphon Minerals stormed higher after it announced a JORC inferred resource estimate for its Banfora gold project in Burkina Faso of 21 million tonnes at 2.1 grams per tonne for two million ounces.

The resource upgrade also coincided with the announcement of a 520,000 ounce maiden resource for its Samavogo deposit within the project.

"This latest resource update is an interim estimation with significant potential to define further ounces as the company establishes a multi-million ounce gold district in West Africa through an aggressive on-going drilling program," the company said in a statement.

Gryphon managing director Steve Parsons said Banfora continued to deliver resource growth that supported the company's push to become the first Australian miner to produce gold in Burkina Faso.

"With drilling at the Nogbele deposit underway, a maiden resource estimate at Samavogo and multiple high priority targets being followed up in an aggressive exploration program, we expect further and significant growth over the next 12 months," he said.

Gryphon shares closed up 13.5 cents, or 7.2 per cent, at $2.01 after hitting an intraday peak of $2.06.

Comparison Mutiny Gold
Shares Issued 290,220,306
Market Capitalisation 39,179,741

Eventually we'll catch up....