Last checked at 19 Oct 2009 07:00
19 October 2009 Kryso Resources plc (`Kryso' or `the Company') Appointment of Technical Consultant
Kryso Resources plc (AIM: KYS), the gold exploration and development company that is advancing its Pakrut gold project in Tajikistan through a bankable feasibility study (BFS), is pleased to announce that it has appointed Gordon Lewis as a technical consultant with responsibility for co-ordinating the ongoing Pakrut project BFS.
Gordon commenced providing services to Kryso in late August and carried out a site visit to Pakrut in early September in conjunction with the Beijing General Research Institute of Mining and Metallurgy (BGRIMM), which has been appointed to complete the BFS. Gordon will work closely with BGRIMM and with other consultants to Kryso in order to optimise the BFS as it proceeds towards completion.
Gordon, who is aged 61, has a track record of playing key technical roles in the successful development of substantial gold mines. These mines have included the Kelian gold mine in Indonesia for Rio Tinto plc; the Penjom and North Lanut gold mines in Malaysia and Indonesia respectively for Avocet Mining plc; and the Gedabek gold-copper mine in Azerbaijan for Anglo Asian Mining plc. Gordon graduated from Melbourne University in 1971 as a Bachelor of Engineering and as a Master of Engineering from McGill University in Canada in 1974. He is a Member of the Australasian Institute of Mining and Metallurgy.
Gordon Lewis, technical consultant to Kryso, comments:
`The Pakrut deposit and other gold deposits within Kryso's licence area represent an excellent opportunity for development. In addition, the Tajik government is supportive of the project and local residents are keen to see progress.'
About the Pakrut Gold Project
The Pakrut gold project, of which Kryso has 100% ownership, is situated in western Tajikistan approximately 112 km northeast of the capital city Dushanbe.
Pakrut has total JORC Code-compliant gold resources of 1,984,272 oz Au (assuming a cut-off grade of 0.5g/t Au) and is located within the Tien Shan gold belt, which extends from Uzbekistan into Tajikistan, Kyrgyzstan and western China, and which hosts a number of multi-million ounce gold deposits.
Drilling at Pakrut has previously returned numerous exciting intersections, including 123.7m at 6.14g/t Au, 42m at 11.17g/t Au and 50m at 5.67g/t Au.
A bankable feasibility study for the Pakrut project is currently being undertaken by the Beijing General Research Institute of Mining & Metallurgy. The bankable feasibility study is targeted for completion before the end of 2009. An internal prefeasibility study completed in 2008 envisaged a mining operation at Pakrut producing in excess of 100,000oz Au per annum with cash costs of approximately US$300/oz Au.
About Tajikistan
Tajikistan is a secular republic located in Central Asia. The country is a member of the Commonwealth of Independent States (CIS) and the Shanghai Cooperation Organisation. Tajikistan hosts numerous operating precious metal mines as well as the largest aluminium smelter in Central Asia. Kryso's management team has extensive experience in the mining industry in Tajikistan.
For further information please visit the Company's website (www.kryso.com) or contact:
Dr. Trevor Davenport/Craig Brown, Kryso Resources plc
Tel: +44 (0) 20 7371 0600
Gavin Burnell, Astaire Securities plc
Tel: +44 (0) 20 7448 4400
Christian Dennis, Orbis Equity Partners Ltd
Tel: +44 (0) 20 3137 1902
Jason Bahnsen, Fox-Davies Capital Ltd
Tel: +44 (0) 20 7936 5200
vendor