Monthly Archives :

January 2021

Announcement re Zone II resource January 2021






Griffin Mining Limited (“Griffin” or the “Company”) is delighted to announce a significant increase to the Zone II Mineral Resource at the Caijiaying Mine. These additional Indicated and Inferred Mineral Resources are located immediately adjacent to the south of Zone III and within the recently approved Mining Licence (See Company Announcement “Issue of New Mining Licence” dated 4th January 2021).

These new resources, which are reported in compliance with The JORC Code, are in addition to the Zone III Mineral Resource currently being mined at the Caijiaying Zinc-Gold deposit. The highlights include:

  • 1.49 million tonnes of Zinc Metal (from 0.638 million tonnes)
  • 463,000 ounces of Gold (from 164,000 ounces)
  • 36.8 million ounces of Silver (from 15.5 million ounces)The new Zone II Indicated and Inferred Mineral Resource estimate comprises 40.7 Mt at 3.7% Zn, 0.9% Pb, 28.4 g/t Ag and 0.4 g/t Au, resulting in total contained metals of approximately 1.49 Mt of zinc metal, 36.Moz of silver metal, and 0.46 Moz of gold metal.This is an increase of 21.1 Mt (107%) from the previously reported Zone II Mineral Resource of 19.6 Mt at 3.3% Zn, 0.7% Pb, 24.6 g/t Ag and 0.3 g/t Au (Company Annual Report “Results for 2018 and Annual Report and Accounts” dated 30th April 2019).

    Regarding the contained metal this is an increase from approximately 0.6 Mt to 1.5 Mt of zinc metal, from 0.14 Mt to 0.38 Mt of lead, from 15.5 Moz to 36.8 Moz of silver and from 0.16 Moz to 0.46 Moz of gold.

    The large increase in resources at Zone II is the result of the significantly improved geological understanding of the structural controls on mineralisation, and on mineralogical associations gained from the extensive work over many years, together with a more recent detailed re-logging and assaying review of selected areas within Zone II. As underground access and mining activities progress into 2021, further improvements to the geological model are expected.

    Further information in relation to the Mineral Resource estimate is set out in the appendix to this announcement.

    Chairman Mladen Ninkov said “The substantial increase to the yet unmined Zone II resource justifies the long wait for the new Mining Licence and guarantees the increased mining throughput and mine life of Caijiaying for decades to come. I couldn’t be happier for the shareholders of the Company who have waited so patiently and so eagerly for this day. We look forward now to the estimation and announcement of the total global Caijiaying resource in the near future.”


The information in this announcement that relates to Mineral Resources is based on, and fairly reflects, information compiled by Mr Serikjan Urbisinov a Competent Person, who is a Member of the Australian Institute of Geoscientists. Mr Serikjan Urbisinov is a full-time employee of CSA Global Pty Ltd. Mr Serikjan Urbisinov has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Serikjan Urbisinov consents to the disclosure of the information in this announcement of the matters based on his information in the form and context in which it appears.

*The insitu metal value is the result of the Company’s’ assessment and does not consider modifying factors such as the cost of metal extraction and recovery.


Further information

GRIFFIN MINING LIMITED                              Telephone: +44(0)20 7629 7772

Mladen Ninkov – Chairman.

Roger Goodwin – Finance Director

PANMURE GORDON (UK) LIMITED              Telephone: +44 (0)20 7886 2500

John Prior
Joanna Langley

BERENBERG                                   Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

BLYTHEWEIGH                           Telephone: +44(0)20 7138 3205

Tim Blythe



To view the full announcement, please click here.


Caijiaying Mine Receives Ministry Green Mine Accreditation

 19th January 2021

Griffin Mining Limited (“Griffin” or the “Company”) is very pleased to announce that the central Chinese Ministry of Natural Resources (the “MNR”) has today published its formal list of mines operating in China which have passed the national level green mine assessment, with the Caijiaying Mine occupying the position at the top of the list.  Formal certification is expected shortly.

Under its ‘Green Mine Construction Plan’, the Chinese Central Government is attempting to motivate mining enterprises to improve their resource utilization efficiency, protect the environment and harmonize their relationship with communities. The MNR’s Circular of Selection of Green Mines 2019 outlines the criteria for a green mine including a mine’s adherence to the law, corporate culture, quality controls relating to health, safety and environmental protection, resource utilization strategies, environment restoration and reclamation processes and their relationship with local communities.  The consequence of failing to ensure certification is closure of the designated mine. Further, in 2020, the Provincial Government of Hebei Province in its ‘Green Mines Construction Work Plan’ declared that all non-green mines in its provincial area will be shut down from the beginning of 2021.

Green Mine approval comes after the Company’s past environmental best practices have been recognised by the Chinese government with the Environmental Award and the Mine Development Outstanding Achievement Award at successive China Mining Conferences.

Chairman Mladen Ninkov said “The Company is delighted to receive Green Mine accreditation, not just to ensure the smooth continuation of operations at Caijiaying, but also to show the Company’s continuing commitment to the environment, the local Chinese community and to the greater People’s Republic of China.”

About Griffin Mining Limited 

Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China  the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website


Further information

Griffin Mining Limited                                          Telephone: +44(0)20 7629 7772

Mladen Ninkov – Chairman

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                              Telephone: +44 (0)20 7886 2500

John Prior

Joanna Langley

Berenberg                                           Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

Blytheweigh                                 Telephone: +44(0)20 7138 3205

Tim Blythe

Issue of New Mining Licence

Issue of New Mining Licence

 New Mining Licence Covering Both New Zone II & Existing Zone III

 4th January 2021


Griffin Mining Limited (“Griffin” or the “Company”) is delighted to announce that the new Mining License (“ML”) covering both the Zone II and Zone III areas has finally been approved and issued by the Chinese Ministry of Land and Natural Resources.

The magnitude of the accomplishment cannot be diminished. This major milestone was finally reached after 8 years of lengthy and arduous document preparation and written submissions which continually needed to accommodate a significant number of legislative and regulatory changes throughout that time. The directors, senior management, staff and contractors, and the numerous officials at every level of government concerned, need to be recognized and congratulated on their extraordinary efforts to achieve this momentous result.

The new mining licence will allow the mining of significant additional resources. The granting of the 3rd Stage Zone III Project Final Acceptance Permit will increase the annual mined ore from Zone III to from 820,000 tonnes in 2020 to 1.1 million tonnes in 2021, but with the increased ore accessed from Zone II, this will increase to over 1.5 million tonnes per annum in 2022, increasing as more capital development is completed. No additional capital is required for any above ground processing facilities which were upgraded and completed some time ago whilst waiting for the new ML. The Company remains debt free.

Chairman Mladen Ninkov said “After 8 long and frustrating years and the difficulties experienced during the Covid-19 pandemic, the 2020/2021 new year period has finally delivered what the shareholders have hoped, and patiently waited for, all this time. It is a gigantic achievement which catapults Griffin from a junior mining company into the ranks of one of the largest zinc producers, in the largest base and ferrous metals consuming market in the world. To say I am elated would be an understatement. I am so happy for those shareholders who have been so supportive, who believed and kept the faith when so, so many did not and that they will now get to fully realise the exciting potential of the Caijiaying Mine.”


Further information

Griffin Mining Limited

Mladen Ninkov – Chairman                             Telephone: +44(0)20 7629 7772

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited

John Prior                                                        Telephone: +44 (0)20 7886 2500


Mathew Armitt                                                   Telephone: +44(0)20 3207 7800

Jennifer Wyllie

Deltir Elezi