Shares in Gryphon Minerals Ltd (ASX:GRY) jumped to the best performer in the S&P/ASX200 in morning trade after the company said it had produced exceptional drill results.
The mineral explorer says its flagship Banfora Gold Project in West Africa has revealed near surface, high grade mineralization with one of the highest gram intercepts to date.
Gryphon is currently undertaking a $30 million exploration program at Banfora and believes the latest results confirm the potential for Banfora to host world class gold mineralization.
Shares in Gryphon Minerals had risen 7.58 per cent this morning, and were trading at $1.91.
While in the first half of its 2011 financial year Gryphon booked a net loss of $11.2 million.
