UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or
15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 5, 2012
GRYPHON GOLD CORPORATION
(Exact name of registrant as specified in its charter)
Nevada | 333-127635 | 92-0185596 |
(State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer |
incorporation) | Identification No.) |
611 N. Nevada Street
Carson City, Nevada 89703
(Address of principal executive offices) (Zip Code)
(604) 261-2229
(Registrants telephone number,
including area code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure.
On December 5, 2012, the Registrant issued the press release attached hereto as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information set forth herein and in the press release is deemed to be furnished and shall not be deemed to be filed for purposes of the Securities Exchange Act of 1934, as amended. The information set forth in Item 7.01 of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. | Description |
|
|
99.1 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GRYPHON GOLD CORPORATION. | |
(Registrant) | |
Dated: December 5, 2012 | By: /s/ James ONeil |
James ONeil | |
Chief Executive Officer and Interim Chief Financial Officer |
NEWS RELEASE | |
Gryphon Gold Corporation, 611 N Nevada Street, Carson City, NV 89703 |
Gryphon Gold Completes Expansion of Heap Leach Pad
CARSON CITY, NV, December 5, 2012 - Gryphon Gold Corporation (the Company or Gryphon Gold) (GGN: TSX; GYPH: OTCQB), a gold exploration, development, and production company focused on its Borealis Oxide Heap Leach Project in Nevada (the Borealis Property), announced today that it has completed the heap leach pad expansion, increasing the total stacking capacity 50%, from 4 million tons to 6 million tons. Solution flow has commenced on the expanded pad with solution break through expected by late-December.
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 Nevadas 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 Companys wholly owned subsidiary) of approximately 20 acres each, totaling about 15,020 acres, which has successful past production.
Gryphon Gold routinely posts news and other important information on its website: www.gryphongold.com.
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Gryphon Gold Completes Expansion of Heap Leach Pad December 5, 2012 Page 2 of 2
For further information, please contact: | |
James T. ONeil Jr., CEO and Interim CFO | Deborah K. Pawlowski, Kei Advisors LLC |
775.883.1456 | 716.843.3908 |
joneil@gryphongold.com | dpawlowski@keiadvisors.com |
Safe Harbor Statement
This press release contains forward-looking statements and "forward-looking information" within the meaning of United States and Canadian securities laws, which may include, but are not limited to, statements relating to operating results; expansion of production capacity, improve recovery rates, pending permit application, development of resources, and plans to advance the development of the Borealis Property. Such forward-looking statements and forward-looking information reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including risks associated with mining operations, risks associated with the oxide heap, risks associated with exploration, metallurgical design and project permitting and development and the risks and uncertainties outlined under the section headings Forward-Looking Statements and Risks Factors and Uncertainties in the Annual and Quarterly Reports, as filed with the SEC and Canadian securities administrators and in the Companys other reports, documents, and registration statements filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com ). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. The Company does not undertake to update forward-looking statements or forward-looking information, except as may be required by law. Full financial statements and securities filings are available on the Companys website: www.gryphongold.com and www.sec.gov or www.sedar.com.
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