The Mount Rankin Project is located southwest of the township of Southern Cross in the Yilgarn Craton of Western Australia. The project area covers approximately 358km2 and contains highly prospective and previously untested ultramafic units that are interpreted to be the same or similar units that continue south to the Forrestania region that host Western Areas Flying Fox nickel deposits.
Gryphon has completed ground electro-magnetic (EM) surveying which identified several discrete bedrock conductors of which initial drill testing identified the presence of massive and disseminated sulphides. The Company also undertook Scanning Electron Microprobe (SEM) testing of drill chips in one sulphide zone which indicated the presence of matrix and disseminated pyrrhotite, pyrite and trace amounts of pentlandite. Drill assay results indicated elevated levels of zinc (up to 1m @ 1.58%), copper (up to 1m @ 0.35%) and gold (up to 1 metre @ 2.04g/t) and low levels of nickel (up to 2m @ 1761ppm) mineralisation.
A reconnaissance RAB drill program, at the prospective Scalene Prospect area intersected cumulate and spinifex textured rocks and anomalous Ni (0.88% Ni) and Cu assays.
It is expected that an upcoming drill programme will test a deeper conductor identified by electromagnetic methods at the Scalene Prospect and exploration will commence on the three recently granted licences.
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Mt Rankin Project (