• Friday 17th December 2010

Further New Drilling Results from Caijiaying – High Grade Gold Results

Further New Drilling Results from Caijiaying – High Grade Gold Results

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce further excellent results from its ongoing drilling programme at Zone III which continues to discover extensive high grade zones at its Caijiaying zinc gold mine in North East China. Very high-grade gold mineralisation was identified in extensions of both the Julong and Qinglong ore bodies. Better gold assays included:

  • 12.30 metres @ 16.2 g/t Gold with 4.68% Zinc & 67 g/t Silver
  • 16.15 metres @ 10.0 g/t Gold with 6.26% Zinc & 60g/t Silver
  • 10.65 metres @ 10.2 g/t Gold with 5.9% Zinc & 27 g/t Silver
  • 10.10 metres @ 17.9g/t Gold with 10.97% Zinc & 80g/t Silver
  • 25.80 metres @ 6.4 g/t Gold with 6.47% Zinc & 35 g/t Silver
  • 15.70 metres @ 4.3 g/t Gold with 1.98% Zinc & 47 g/t Silver
  • 02.20 metres @ 127.5g/t Gold & 299g/t Silver

Significant high grade gold intersections are shown in the following table.

  From To Interval Gold Zinc Silver Lead
Hole No. (m) (m) (m) (g/t) (%) (g/t) (%)
UGCJ Y- 833 23.5 39.6 16.15 10.0 6.26 60 0.16
UGCJY – 865 62.9 78.6 15.70 4.3 1.98 47 NA
UGCJY – 922 51.0 76.8 25.80 6.4 6.47 35 0.16
UGCJY – 976 18.5 28.6 10.10 17.9 10.97 80 0.29
UGCJY – 978 22.0 40.8 18.80 2.9 20.15 96 0.34
UGCJY – 1026 73.0 83.7 10.65 10.2 5.90 27 0.07
UGCJY – 1196 115.8 128.1 12.30 16.2 4.68 67 0.12
UGCJY – 1727 94.6 96.8 2.20 127.5 0.01 299 0.04
UGCJ Y- 1759 163.9 167.9 4.00 15.4 3.04 302 1.26

Competent Person Statement

The data in this report that relates to Exploration Results for the Caijiaying Area, China, is based on information reviewed by Mr Jack Drzymulski who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Drzymulski is a full time employee of Hebei Hua Ao Mining Industry Company Limited. Mr Drzymulski 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 a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Drzymulski consents to the inclusion in the report of the Exploration Results in the form and context in which they appear.

Mladen Ninkov, Griffin’s Chairman, commented on these drilling results as follows: “Caijiaying continues to deliver further and better mineralization with each drilling programme completed. These gold results only confirm the Company’s long held belief that gold will continue to become a larger source of revenue at Caijiaying as the mine develops. This is yet another very significant win for the Company’s shareholders.”