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28 Sep 2009 07:00
28 September 2009 Kryso Resources plc (`Kryso' or `the Company') AIM: KYS
Drilling at Pakrut Gold Project Returns Excellent Intersections in Ore Zones 1,2,3 and 7
- Highlights include intersections of 7.5m at 26.23g/t Au and 34.5m at 4.92g/t Au
- Results will be incorporated into JORC Code-compliant Pakrut resource update expected imminently
- Further drill results from Pakrut will be available in the near future
- Site visit completed by BGRIMM as part of ongoing Pakrut project bankable feasibility study
Kryso Resources plc, the gold exploration and development company that isadvancing its Pakrut gold project in Tajikistan through a bankable feasibilitystudy (BFS), is pleased to report highly encouraging assay results fromdrilling at Pakrut. The assay results have been received from the independentassay laboratory used by the Company, SGS Group in South Africa.Mineralised IntersectionsBHID From (m) To (m) Interval (m) Grade (g/t Au)Ore Zone 1PKDD82 234 255 21.0 3.95PKDD86 262.2 269.7 7.5 2.31PKDD87 215.7 234.5 18.8 5.35PKDD87 257 264.5 7.5 5.09PKDD87 282.5 288.5 6.0 8.56PKDD88 250.0 284.5 34.5 4.92PKDD89 276 281 5.0 2.92Ore Zone 2PKDD82 169.5 177 7.5 26.23PKDD84 233.7 251.7 18.0 3.84PKDD84 301.2 315.5 14.3 4.40Ore Zone 3PKDD82 19 28 9.0 1.10PKDD82 46 63.5 17.5 1.37PKDD84 101.7 112.2 10.5 1.02PKDD84 172.2 175.2 3.0 1.65PKDD85 55 64 9.0 5.51PKDD86 100.2 102 1.8 1.21PKDD87 55.2 56.7 1.5 3.03PKDD88 49 50.5 1.5 0.74PKDD89 105 112.5 7.5 1.88Ore Zone 7PKDD81 142.2 146.7 4.5 1.55PKDD83a 146.5 147.5 1 2.9
Progress of Bankable Feasibility Study
The Beijing General Research Institute for Mining & Metallurgy (BGRIMM), whichhas been appointed by Kryso to complete the Pakrut project BFS, carried out asite visit in early September. The BGRIMM sent 6 personnel for Tajikistan foran 8 day period in order to gather data and fully appraise the Pakrut site andfacilities. In addition, metallurgical samples have been sent from Tajikistanto China for analysis.
Trevor Davenport, Non-Executive Chairman and acting Managing Director of Kryso, comments:
`These very favourable results from drilling at Pakrut will be reflected in theupcoming JORC Code-compliant resource update for the project, which we expectto be available shortly and for which we have highly positive expectations. Itis also notable that some of the shallower intersections reported above fallwithin the likely extent of the proposed Pakrut open pit.
The BGRIMM completed a successful site visit to Pakrut earlier this month and remain on track to complete the Pakrut project BFS before the end of 2009.'
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 beingundertaken by the Beijing General Research Institute for Mining & Metallurgy.The bankable feasibility study is scheduled for completion before the end of2009 and is targeting a mining operation producing in excess of 100,000oz Auper 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
Brett Miller, Astaire Securities plc
Tel: +44 (0) 20 7448 4498
Christian Dennis, Orbis Equity Partners Ltd
Tel: +44 (0) 20 3137 1902
Jason Bahnsen, Fox-Davies Capital Ltd
Tel: +44 (0) 20 7936 5200
All geological results have been approved for release by Dr. Trevor Davenport B.Sc, M.Sc, Ph.D, MIMM, C.Eng, Non-Executive Chairman and acting Managing Director of Kryso Resources plc. Dr. Davenport has more than 35 years of experience in the mining industry and has consented to the inclusion of the material in the form and context in which it appears.
Glossary
Au: The chemical symbol for gold.
Cut-off grade: The grade used to separate ore and waste such that only material classified as ore will be treated in order to recover the economic metal or mineral of interest.
Bankable feasibility study: A study of the economic viability of the mining andproduction of base or precious metals or other minerals in such form andcontaining such detail as is customarily required by a bank or other financialinstitution engaged in mining project finance to enable it to determine whetherto finance the development of a commercial mining operation.
Grade g/t: grams per tonne.
JORC Code: The Australasian Code for Reporting of Exploration Results, MineralResources and Ore Reserves, as published by the Joint Ore Reserves Committee ofThe Australasian Institute of Mining and Metallurgy, Australian Institute ofGeoscientists and Minerals Council of Australia.
m: metre.
oz: troy ounce.
Resource: An estimated tonnage and grade of mineralisation in the ground.
t: metric tonne.
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