Gryphon Minerals

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Company Information for Leyshon Resources Ltd

Company stock charts - 12 Month chart

Exchange ASX; LRL


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Exchange AIM; LRL


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Company Statement

Leyshon has been established in China for over 3 years and is focused on becoming the country’s next foreign gold producer.

With its main operating office in Beijing the company is fully engaged in China. Its Chairman, Managing Director and Chief Operating Officer all live and work in the country and over 80% of its employees are Mandarin speaking.

Construction of the Zheng Guang gold zinc project is scheduled to commence in early 2008. The development will be the first ever Sino Foreign owned gold mine in the mineral rich province of Heilongjiang and once in full production it will be one of China’s largest gold mines.

The project benefits from exceptional infrastructure as it is located within a well established coal and copper mining community with rail, power, water and mining contractor services immediately available.

Engineering design is being undertaken by the Changchun Design institute working closely with Leyshon’s Project Manager Dr Ye Dong Ping and the project construction team. AMMTEC of Australia and under a programme designed by Metalurg of Western Australia have designed a straight forward flotation process route which takes advantage of Zheng Guang’s favourable ore characteristics enabling a single gold-zinc ore type to be open pit mined and processed to produce gold and silver dore and a high grade zinc concentrate.

The joint venture is about to embark on an aggressive exploration programme on the recently awarded licences covering a highly prospective gold and base metal belt that extends from the Duobaoshan copper-gold mine in the northwest through Zheng Guang and beyond into a coal mining area in the southeast.

Leyshon is listed on AIM and ASX (code: LRL) and is one of AIM’s most actively traded gold mining stocks. Its Nomad is Seymour Pierce and joint broker is Mirabaud. Major shareholders include JP Morgan, Baker Steel, US Global, Deutsche Bank, Standard Bank and Newmont Mining Corporation.


Current Operations

Zheng Guang Gold Project
The Zheng Guang gold project lies approximately 8 kilometres south-east of Duobaoshan and was discovered by the HLJBGMR in 2000 through a regional stream sediment sampling programme. Follow-up work during 2002 included detailed soil sampling, diamond drilling, trenching, shafts and adits, defining strong mineralisation at the Zheng Guang prospect and outlining geochemical anomalism and other zones of mineralisation over a strike length of 2 kilometres. As well as testing the shallow potential of the deposit, the HLJ-BGMR also completed deep vertical drilling, confirming the depth extent of the mineralisation to over 350 metres in the southern section of the deposit.

All available data has been captured, compiled and interpreted and an exploration programme designed to define the size and key controls on mineralisation. The initial programme consists of approximately thirty diamond drill holes for 4,500 metres testing the deposit at 100 metre section spacings to a vertical depth of approximately 150 metres.

Results from the first six drill holes have been received and are encouraging, with strong intercepts (including 16 metres @ 6.09 g/t from 69 metres in hole ZGD006 and 44 metres @ 3.16 g/t Au from 50 metres) being recorded from the central section of known mineralisation.

Broad zones of mineralisation (up to 44 metres down hole) are present and that encouraging widths of higher-grade material are still open at depth, to the west. High grade pyrite/galena veins grading up to 60 g/t Au have been intersected within the broader, lower-grade envelopes although their orientation and continuity is as yet unknown.

Drilling was completed in September 2004 and has tested over 700 metres of potential strike and the down-dip potential of the mineralisation. Follow-up drilling, particularly to test the stronger intercepts at depth, will also be completed prior to the completion of the 2004 programme.


Geographical Spread


Board of Directors and Key Management

Mr John Fletcher CBE (Non-Executive Chairman)
Paul Atherley (Managing Director)
Stacey Apostolou (Executive Director and Company Secretary)
Richard Seville (Non-Executive Director)

Company Address

36 Outram Street
Perth, Australia 6005

Telephone:+61 89321 0077
Facsimile:+61 9322 4073
Email:info[at]leyshonresources.com
Website:http://www.leyshonresources.com

Additional Address/Key Contact

Suite 2502, Tower D
China International Trade Centre
6A Jianguomenwai Avenue
Chaoyang District
Beijing 100022
Phone: +86 10 8567 9405
Facsimile: +86 10 8567 9410

Capital

As of 28th Feb - Ordinary Fully Paid Shares: 218,110,891

Annual General Meeting

November

Year End

30 June

Nominated Brokers

Mirabaud Securities Limited
21 St James's Square
London SW1Y 4JP

Seymour Pierce Limited
20 Old Bailey
London EC4M 7EN

Nominated Advisors

Seymour Pierce Limited
20 Old Bailey
London EC4M 7ENv

Broker/Analyst Reports

16/05/07 - Mirabaud - First-Mover Advantage

Major Shareholders

COMPUTERSHARE CLEARING PTY LTD 117,574,0242
NORTH ASIA METALS LTD 29,000,000
NATIONAL NOMINEES LIMITED 8,370,696
NEWMONT NGL HOLDINGS PTY LTD 7,819,801
MINISCRIPS PTY LTD 5,000,000

Related News

08/07/08 - Mountain High, Emperor Far Away: The Many Faces Of Chinese Mining
01/07/08 - Construction Is Imminent At Leyshon's Zheng Guang Project, And A Hong Kong Listing's Not Far Off Either
05/12/07 - Leyshon Resources Lifts Pace Of Development Of Zheng Guang Mine
18/09/07 - China’s Impact On The World’s Gold
02/05/07 - Leyshon Maintains The Momentum

Most Recent Statement

06/08/08 - Ground Breaking Ceremony at Zheng Guang
31/07/08 - JUNE 2008 QUARTERLY REPORT
23/07/08 - Zheng Guang-Update on Capital and Operating Costs
30/06/08 - Hong Kong Stock Exchange Listing
26/06/08 - Zheng Guang Gold Project Awarded Environmental Approval
10/06/08 - ROAD CONSTRUCTION COMMENCES AT ZHENG GUANG

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