(MENAFN- ProactiveInvestors - Australia) Gryphon Minerals (ASX: GRY) has announced the resignation of Tim Holt as its Chief Financial Officer effective today - with the company wishing him well in his future endeavours.
Gryphon has now commenced the process of recruiting a suitable replacement - with Paul Hegarty, the company's Financial Controller, assuming Holt's responsibilities at this time.
Recently Gryphon has delivered some very positive news to the market, including the global resource estimate of 4.5 million gold ounces from the Banfora Gold Project in Burkina Faso.
The estimate comprises 56.4 million tonnes at 2.0g/t gold for 3.6 million ounces (at 0.9g/t cut off), and 49 million tonnes at 0.6g/t gold for 900,000 ounces of potential heap leach material at the Nogbele gold deposit (between 0.4g/t and 0.9g/t cut off).
A major plus for the company is that the resources are near surface, with 90% less than 150 metres deep. Mineralisation remains open along strike and at depth.
Exploration at Banfora continues at the Stinger gold deposit, where drilling has confirmed mineralisation continues outside of current resource wireframes.
Reverse circulation and diamond drilling is currently underway to bring the resource into the Measured and Indicated categories - with five rigs turning onsite.
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