The Central Group of Tenements

(ELs 2419, 2431, 2444)

These tenements cover a prominent topographic feature, the Schrader Range and its northern foothills and adjoining alluvial plains. Alluvial gold sheds from the northern fall of the range.

The Schrader Range terrane is a tectonic melange assemblage of metamorphic rocks and sediments accreted onto the Australian continental margin. There is a high degree of faulting and shearing which provides excellent structural preparation. There are plenty of structures to potentially host mineralization.

The large Yandera copper-gold deposit (2.4Mt copper & 1.6Moz gold) is located along strike from and on the same structural trend as the Schrader Range terrane. Gravity data suggests Yandera is in the same terrane, indicating the Central Group of Tenements has the right address for hosting large orebodies. In addition, a major arc-normal lineament running through the giant Porgera and the smaller but still substantial Mt Kare gold/copper deposits continues on through the Gryphon Central Group of tenements.

Intrusive rocks in the Schrader Terrane are of similar age (15-17Ma) to the highly mineralized Wafi- Golpu intrusive (14Ma) which contains 26Moz gold & 8.8Mt copper and is also located on the northern margin of the New Guinea Mobile Belt. The intrusives are multi-phase with rock types ranging from gabbro to granodiorite including dolerite, lamprophyre and pyroxenite. The Schrader intrusives are of the right age and display multiple phases.

Pilbara Minerals' subsidiary Sturt Resources, defined a non-JORC c. 2 Moz. alluvial deposit within EL 2431 and in one location close to a major fault emplace ultramafic body associated with later stage dioritic intrusives, took 65 bulk alluvial samples with an average grade of 2.5 g/m³ , an exceptionally high average grade, indicating that a hardrock source for the alluvial gold is  probably close by.

The abundant alluvial gold shedding along the northern fall of the Schrader Range within your tenements indicates that the Schrader terrane is mineralized. Applying the TAG model, particularly along the Ramu-Markham Suture, the mineralizing intrusions could be completely blind as could be any large scale porphyry copper/gold intrusive complexes indicating that comprehensive regional & local geophysics followed by intensive ground geophysics is the correct approach.

Gryphon Mining & Energy Melanesia Pty Ltd
ACN 607 077 654