Recently, two 500-foot conveyor systems were put into operation, which has allowed the Company to process between 5,000 and 6,000 tons of ore per day, more than doubling the previous rate of 2,500 tons per day that was achieved in October and November. Installation of an additional jaw crusher is anticipated to be completed by year-end and, once finished, Gryphon Gold will have the capability to process more than 12,000 tons of ore per day.
Donald B. Tschabrun, Chief Operating Officer of Gryphon Gold, commented, “We continue to pour and ship gold weekly from our ADR facility cycle, while concurrently making significant progress with our Phase 1B initiatives that will increase our operational capacity. The completed expansion of our leach pad and the additional ore handling capability are two important Company objectives that have been achieved. Increasing our solution throughput is the next milestone. Once the additional carbon columns are installed, we expect production and sales to increase.”
The Company anticipates approval of its application to update its existing water flow permit, which is currently under review with U.S. Forest Service and the Nevada Department of Environmental Protection, by year-end. The updated permit will allow for an additional set of carbon columns and higher pumping capacity. The carbon columns have been ordered and are being manufactured. Once operational, and pending the closing of the bonding requirement, the operation will have the capacity to handle solution throughput more than double the current solution flow of approximately 1,000 gallons per minute to 2,500 gallons per minute.
ABOUT GRYPHON GOLD:
Gryphon Gold produces gold from its Borealis Property, which is located in Nevada’s Walker Lane Gold Belt. The Company is expanding its production capacity and advancing the development of the oxide heap leachable gold and silver historically identified that includes both pre-processed and unprocessed ore. Gryphon Gold also plans to further expand and develop the significant sulphide resource available through exploration, metallurgical design and sulphide project permitting and development. The Borealis Property contains unpatented mining claims (including claims leased to the Company’s wholly owned subsidiary) of approximately 20 acres each, totaling about 15,020 acres, which has successful past production.
Safe Harbor Statement