Positive drilling results for Griffin

15th Dec 2010 13:07

Shares in Griffin Mining have risen by more than 10% after positive drilling results at the Caijiaying zinc-gold mine. The drilling will be used for a revised resource estimate which is expected to "significantly increase the mineral resources at Caijiaying".Griffin's chairman Mladen Ninkov says that the drilling shows a large, mineralised system "which will provide an extraordinarily long life mining operation". The drilling has shown additional resources in zone III, which is already being mined, as well as a potential new zone II resource. Griffin suspended production at Caijiaying in 2009 because of low prices but it has been restarted. In the first half of 2010, zinc and gold production was a record for any six-month period at Caijiaying.