Business
NEW MINE AT CAIJIAYING
NEW MINE AT CAIJIAYING.
About this update from Griffin Mining Limited
[{"type":"text","content":"\n Griffin Mining Ld\n07 April 2008\n\n\n Griffin Mining Limited\n\n\n NEW MINE DISCOVERED AT CAIJIAYING\n JORC RESOURCE FOR NEW DISCOVERY COMPLETED\n\nGriffin Mining Limited ('Griffin' or 'the Company'), is pleased to announce the\ndiscovery of a new, economically extractable, mineral discovery at Zone II at\nCaijiaying, only 1.5km from the current Caijiaying processing facilities and\nover which a maiden Mineral Resource estimate to JORC reporting standards has\nalready been calculated.\n\nSummary:\n \n • New mine discovered at Caijiaying\n\n • Only 1.5km from current processing facilities\n \n • JORC Resource already defined\n\n • Significant exploration potential with 1.1 kms between Zones II & III\n mineralized and yet to be drilled\n \nDrilling conducted during 2007 has defined a Total Mineral Resource estimate at\nZone II of 5.49 million tonnes of 3.2% zinc ('Zn'), 0.6% Lead ('Pb'), 0.3 grams\nper tonne ('g/t') gold ('Au') and 24 g/t silver ('Ag'). This estimate was based\non ordinary Kriging and a cutoff of greater than or equal to 1% zinc. Gross*\ncontained metal in situ based upon these estimates for both indicated and\ninferred resources include; 176,000 tonnes zinc; 53,000 ozs gold; 4.3 million\nozs silver; and 33,000 tonnes lead, as derived from the table below.\n\n\n Mineral Resource Estimate for Zone II\n\n\nMaterial Tonnes Zn% Pb% Au g/t Ag g/t\nINDICATED\n Oxide 230,000 1.9 0.7 0.3 20.0\n Transitional 330,000 1.9 0.8 0.2 22.7\n Fresh 3,430,000 3.3 0.5 0.3 25.7\n 3,990,000 3.1 0.5 0.3 25.1\n\nSub-total\nINFERRED\n Oxide 130,000 2.4 0.5 0.2 21.2\n Transitional 430,000 2.9 0.5 0.3 16.7\n Fresh 940,000 3.8 0.8 0.4 25.5\n 1,500,000 3.4 0.7 0.4 22.6\n\nSub-total\n\nTOTAL 5,490,000 3.2 0.6 0.3 24.4\n\n\nNotes: Rounding errors may occur\n\n\n\nThe information in this report that relates to the Mineral Resource estimate for\nZone II (Fox) is based on information compiled by Mr G. Fahey of CSA Australia\nPty Ltd (CSA). Mr Fahey is a Chartered Professional and Member of The\nAustralasian Institute of Mining and Metallurgy and a Member of the Australian\nInstitute of Geoscientists . Mr Fahey has sufficient experience which is\nrelevant to the style of mineralisation and type of deposit under consideration\nand to the activity which they are undertaking to qualify as a Competent Person\nas defined in the 2004 Edi...