Trading Statement- Increased Production
Griffin Mining Limited (“Griffin” or the “Company”) is pleased to report increased production at its Caijiaying Zinc Gold Mine and processing facilities in the quarter to 31st December 2009.
In the fourth quarter of 2009 125,379 tonnes of ore were processed compared to 114,233 tonnes in the third quarter to produce 7,141 tonnes of zinc (3rd quarter 6,783 tonnes), 1,673 ounces of gold (3rd quarter 1,251 ounces), 29,695 ounces of silver (3rd quarter 38,019 ounces) and 138 tonnes of lead (3rd quarter 218 tonnes).
Following the grant of a new mining licence permitting the extraction of ore below the 1300 level, mine development and stope preparation below the 1300 level is now underway with the expectation of ore being extracted from the lower levels later this quarter. Work is also continuing on the upgrade of the processing plant and tailings dams to increase processing capacity to 750,000 tonnes of ore per annum by the autumn of 2010.
Mladen Ninkov, Griffin’s Chairman, commented as follows: “The operating performance of the Caijiaying mine continues to improve and we look forward to even better results as the next levels of the mine are accessed and the plant upgrade is completed.”