Gryphon Gold Corp GYPHQ

Metals & Mining Gold

Gryphon Gold Corporation is a mine development company. The Company's principal asset is Borealis property. The Borealis Property is 27.5 square miles located in the Walker Lane gold belt of western Nevada. The Company's land position covers approximately 17,600 acres for the Borealis property and over 60 Nevada exploration properties, which cover approximately 70 square miles in the state's gold trends. The Borealis property has approximately 1.4 million ounces of measured and indicated gold resources, and approximately 1.1 million ounces of inferred gold resources have been accredited to the one square mile Central Borealis zone. Its Borealis property has over five other prospective zones that are being explored, which have the potential to host significant gold resources. The Company continued drilling on the Borealis property in the Graben resource, and in the central and western pediment areas.

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Gryphon Gold Corp

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Comment by Kiwi3on Jun 08, 2012 5:30pm

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Post# 19994929

RE: RE: RE: drilling

Ozzy. Got back Tuesday from Gaspe Quebec trout fishing. Love Quebec trout. Next is Atlantic salmon.

They should be into the North Block Oxide this year and then the South Block Mixed and Oxide but they have to be permitted to do so,the leach pad has to be extended and they need a crusher. That was the original plan if I can remember. They should be mining .02 to .03 oz/t which works well at these Au prices. I keep looking for fundamental flaws on the property and I cannot find any.

The key indicators are the leach pad extension, progress report on the permitting and a crusher on order.

Some Graben drilling would be nice but I do not think they have bent their minds around mining and processing sulphides. The mining part is complicated because of the nature of the deposit. The rest is not, other than permitting-that does not come from me but from someone who knows what he is doing treating concentrate.

In my mind they will sell out long before they get there. Still a buy in my mind.

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