APPROVAL OF CAIJIAYING ZONE II MINE PLAN
8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom
Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773
E mail: [email protected]
Approval of Caijiaying Zone II Mine Plan
6th March 2023
Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce the approval, by the Hebei Provincial Emergency Response Bureau, of the Mine Design for Zone II of the Caijiaying Mine, including the expansion of the production throughput rate.
The infrastructure included in this design will be in operation for the duration of the mine life at the Caijiaying Mine. Based on the known published mineral resources as classified by JORC, Zone II will be in production for over 25 years and contribute 23.98 million tonnes of ore, being 59.3% of the projected total ore to be produced on the current life of mine plan for the Caijiaying Mine. Construction at Zone II will commence immediately with horizontal underground development having already begun.
Chairman Mladen Ninkov commented, "As has been the case throughout the history of the Company and the Caijiaying Mine, the Company has continued to successfully navigate the Chinese regulatory environment to obtain all the necessary approvals and licences to allow the Company to thrive and expand. Congratulations to all those who contributed so tirelessly to this success."
About Griffin Mining Limited
Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company's website griffinmining.com.
Griffin Mining Limited
Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance Director
Panmure Gordon (UK) Limited Telephone: +44 (0)20 7886 2500
Berenberg Telephone: +44(0)20 3207 7800
Tim Blythe Telephone: +44(0)20 7138 3205
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018