Friday, 24th August 2007 (1809 views)

Gold mineralisation has been reported at precious mineral exploration company Gryphon Gold's Graben gold resource.

According to Gryphon, drilling over a total of 174 metres has uncovered mineralisation of 7.4 grammes per tonne of gold.

Gryphon reveals that hole G-51 returned a 174 metre mineralised interval of quartz-pyrite gold.

"The drill ... encountered a steeply dipping narrow 'fissure' ... too few samples were recovered from within the highly fractured zone to determine a definitive assay grade, however the partially recovered material is clearly gold bearing," the company noted.

According to Gryphon, its Borealis property in Nevada in which Graben is located has 503,000 measured ounces of gold, 709,000 indicated and 600,000 inferred ounces of gold.

Earlier this week, Gryphon closed its acquisition of Nevada Eagle Resources – which has interests in 54 prospective gold properties.

 

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