Last checked at 22 Mar 2011 07:00
Kryso Resources plc
('Kryso' or the 'Company')
Positive Drilling Results from the Pakrut Gold Deposit
Kryso Resources plc (AIM:KYS), the mineral exploration and development company with gold and nickel-copper projects in Tajikistan, is pleased to report highly encouraging assay results from drilling completed during 2010 at its Pakrut gold deposit.
Highlights of drill hole intersections:
Ore Zone 1: 21m (\* TW-15.3m) at 7.28 g/t, 24m (TW-17.98m) at 5.39 g/t and 16.5m (TW-12.36m) at 5.57 g/t Au Ore Zone 2: 30m (TW-22.62m) at 4.37 g/t and 42.9m (TW-32.89m)at 2.57 g/t Au Ore Zone 3: 16.5m (TW-13.28m) at 4.48 g/t and 6m (TW-4.92m) at 6.58 g/t Au Ore Zone 6: 4.5m (TW-3.44m) at 18.2 g/t Updated resource estimate will be released in Q2 2011 Confirmation that Eastern Pakrut surface mineralisation continues at depth\* TW - True width / true thickness of ore zone
The main objectives of the 2010 drill diamond drill programme, which was carried out between May and December, were to improve the definition of the Pakrut resources and verify their continuation at depth. The results confirm that mineralisation is continuing at depth and is consistent with the known shape of the ore zones. Infill drilling has shown all of the ore zones at Pakrut to have continuity of thickness and grade consistent with previous drilling results. The ore zones are mostly confined to the metasomatite. Often the green schist host rock does carry gold grades close to the contact with the metasomatite.
Ore Zone 1, which from previous drilling indicated a strike length of approximately 100m from west to east, after which the grades began to decrease to the east, is now found to be continuing at deeper levels (below 200m below adit level). In addition, the drilling undertaken during 2010 has indicated that the grade and thickness of Ore Zone 1 is increasing at depth towards the east.
The drilling results also indicate that Ore Zones 2 and 3 are continuing at intermediate and deeper levels. Ore Zone 6 - a smaller, mineralised zone on the north side of the river and currently not included in mining plan - is often the first zone intersected during the drilling of the main ore zones; it too continues to show interesting grades.
An additional objective of the 2010 drill programme was to further investigate mineralisation at Eastern Pakrut. Two initial drill holes were completed at Eastern Pakrut in 2010, and they confirm that the mineralisation on surface continues at depth.
The 2010 results were received from the Intertek Group in Beijing, China, an independent assay laboratory appointed by Kryso.
Kryso intends to report an updated resource estimate to the market in the second quarter of 2011.
The total metres drilled in 2010 was 6,967m and the total drilled by Kryso since 2005 is 27,250m.
All drilling in 2010 used diamond drilling apart from one RC hole completed at the end of 2009. There were 16 diamond drill holes completed in 2010 and two others started but not completed by closedown in December. Significant intercepts were obtained from 15 of the 16 completed holes drilled during the year. Drill hole 139 into Ore Zone 2 intercepted minor mineralisation.
Craig Brown, Managing Director of Kryso, commented: "We are delighted to report these outstanding drilling results, which demonstrate the huge potential for expanding the resource at Pakrut. We are especially encouraged by the indicated resources of the lower eastward extension of Ore Zone 1 and by the consistency of thickness and grade with previous drilling results from all of the Pakrut ore zones. The results further support our belief that Pakrut can develop into a significant underground gold mining operation and give us renewed confidence for the future."
Table 1: Pakrut Mineralised Intersections
| BHID | From (m) | To (m) | Interval (m) | True widths (m) | Grade (g/t Au) | Northings | Eastings | Azimuth | Dip | ||||||||||
| Ore Zone 1 | |||||||||||||||||||
| PKDD95 | 330,3 | 346,8 | 16,5 | 12,36 | 5,57 | 71194,16 | 63063,18 | 180 | 55 | ||||||||||
| PKDD95 | 351,3 | 352,8 | 1,5 | 1,21 | 2,73 | 71194,16 | 63063,18 | 180 | 55 | ||||||||||
| PKDD123 | 332,3 | 362,3 | 30,0 | 22,50 | 3,20 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD123 | 366,8 | 368,3 | 1,5 | 1,19 | 4,99 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD123 | 383,3 | 386,3 | 3,0 | 2,25 | 4,37 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD123 | 389,3 | 399,8 | 10,5 | 7,88 | 2,10 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD125 | 460,2 | 484,2 | 24,0 | 17,98 | 5,39 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD125 | 490,2 | 491,7 | 1,5 | 1,21 | 2,85 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD125 | 497,7 | 502,2 | 4,5 | 3,38 | 2,22 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD125 | 497,7 | 503,7 | 6,0 | 4,50 | 2,73 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD125 | 520,2 | 524,2 | 4,0 | 3,00 | 3,41 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD126 | 295,5 | 306,5 | 11,0 | 8,59 | 2,73 | 71233,69 | 63040,15 | 180 | 57 | ||||||||||
| PKDD127 | 348,0 | 369,0 | 21,0 | 15,30 | 7,28 | 71233,69 | 63040,15 | 180 | 57 | ||||||||||
| PKDD127 | 408,0 | 411,0 | 3,0 | 2,12 | 3,55 | 71233,69 | 63040,15 | 180 | 57 | ||||||||||
| PKDD127 | 418,5 | 420,0 | 1,5 | 1,08 | 2,46 | 71233,69 | 63040,15 | 180 | 57 | ||||||||||
| PKDD136 | 254,7 | 274,2 | 19,5 | 16,93 | 4,37 | 71348,94 | 62919,04 | 176 | 62 | ||||||||||
| PKDD136 | 293,7 | 295,2 | 1,5 | 1,27 | 3,58 | 71348,94 | 62919,04 | 176 | 62 | ||||||||||
| PKDD138 | 510,7 | 524,2 | 13,5 | 10,35 | 3,69 | 71340,01 | 62993,98 | 171 | 68 | ||||||||||
| Ore Zone 2 | |||||||||||||||||||
| PKDD124 | 10,0 | 13,0 | 3,0 | 2,89 | 2,52 | 70983,39 | 62999,84 | 73 | 41 | ||||||||||
| PKDD124 | 62,5 | 73,0 | 10,5 | 10,00 | 1,54 | 70983,39 | 62999,84 | 73 | 41 | ||||||||||
| PKDD124 | 98,5 | 103,0 | 4,5 | 4,35 | 1,83 | 70983,39 | 62999,84 | 73 | 41 | ||||||||||
| PKDD129 | 196,2 | 202,2 | 6,0 | 4,58 | 3,00 | 71249,89 | 62962,69 | 250 | 40 | ||||||||||
| PKDD129 | 214,2 | 215,7 | 1,5 | 1,15 | 2,83 | 71249,89 | 62962,69 | 250 | 40 | ||||||||||
| PKDD130 | 349,4 | 350,9 | 1,5 | 1,17 | 4,95 | 71320,23 | 62931,68 | 250 | 64 | ||||||||||
| PKDD130 | 367,4 | 385,4 | 18,0 | 13,50 | 3,75 | 71320,23 | 62931,68 | 250 | 64 | ||||||||||
| PKDD130 | 407,9 | 419,9 | 12,0 | 9,04 | 2,56 | 71320,23 | 62931,68 | 250 | 64 | ||||||||||
| PKDD132 | 263,8 | 293,8 | 30,0 | 22,62 | 4,37 | 71250,11 | 62962,89 | 250 | 60 | ||||||||||
| PKDD132 | 300,8 | 301,95 | 1,15 | 0,87 | 3,14 | 71250,11 | 62962,89 | 250 | 60 | ||||||||||
| PKDD133 | 445,4 | 446,9 | 1,5 | 1,13 | 2,71 | 71320,58 | 62931,78 | 250 | 74 | ||||||||||
| PKDD134 | 290,6 | 333,5 | 42,9 | 32,89 | 2,57 | 71264,61 | 63018,42 | 250 | 60 | ||||||||||
| Ore Zone 3 | |||||||||||||||||||
| PKDD95 | 145,0 | 148,0 | 3,0 | 2,25 | 3,74 | 71194,16 | 63063,18 | 180 | 55 | ||||||||||
| PKDD123 | 213,8 | 215,3 | 1,5 | 1,14 | 0,60 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD124 | 136,5 | 143,5 | 7,0 | 6,78 | 2,30 | 70983,39 | 62999,84 | 73 | 41 | ||||||||||
| PKDD124 | 161,5 | 167,5 | 6,0 | 5,81 | 3,27 | 70983,39 | 62999,84 | 73 | 41 | ||||||||||
| PKDD125 | 254,7 | 256,2 | 1,5 | 1,13 | 1,93 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD126 | 138,5 | 143,0 | 4,5 | 3,42 | 1,36 | 71233,69 | 63040,15 | 180 | 57 | ||||||||||
| PKDD127 | 165 | 169,5 | 4,5 | 3,38 | 3,48 | 71233,69 | 63040,15 | 180 | 57 | ||||||||||
| PKDD129 | 85,2 | 88,2 | 3,0 | 2,42 | 2,75 | 71249,89 | 62962,69 | 250 | 40 | ||||||||||
| PKDD130 | 16,4 | 32,9 | 16,5 | 13,28 | 4,48 | 71320,23 | 62931,68 | 250 | 64 | ||||||||||
| PKDD130 | 58,4 | 68,9 | 10,5 | 8,46 | 3,20 | 71320,23 | 62931,68 | 250 | 64 | ||||||||||
| PKDD132 | 100,4 | 106,4 | 6,0 | 4,92 | 6,58 | 71250,11 | 62962,89 | 250 | 60 | ||||||||||
| PKDD133 | 19,4 | 35,9 | 16,5 | 12,95 | 3,82 | 71320,58 | 62931,78 | 250 | 74 | ||||||||||
| PKDD134 | 235,1 | 236,6 | 1,5 | 1,15 | 5,73 | 71264,61 | 63018,42 | 250 | 60 | ||||||||||
| PKDD134 | 253,1 | 254,6 | 1,5 | 1,15 | 3,60 | 71264,61 | 63018,42 | 250 | 60 | ||||||||||
| PKDD136 | 189,7 | 190,7 | 1,0 | 0,92 | 4,89 | 71348,94 | 62919,04 | 176 | 62 | ||||||||||
| PKDD136 | 202,2 | 203,7 | 1,5 | 1,21 | 1,30 | 71348,94 | 62919,04 | 176 | 62 | ||||||||||
| PKDD139 | 172,2 | 185,7 | 13,5 | 10,35 | 1,67 | 71191,43 | 63062,52 | 250 | 65 | ||||||||||
| Ore Zone 6 | |||||||||||||||||||
| PKRC117 | 203,6 | 207,4 | 3,8 | 2,98 | 8,00 | 71402,64 | 62976,11 | 360 | 65 | ||||||||||
| PKDD123 | 21,8 | 24,8 | 3,0 | 2,35 | 1,81 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD123 | 53,3 | 57,8 | 4,5 | 3,44 | 18,20 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD125 | 25,2 | 26,7 | 1,5 | 1,15 | 1,02 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD125 | 35,7 | 38,7 | 3,0 | 2,36 | 1,54 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD125 | 41,7 | 43,2 | 1,5 | 1,18 | 1,41 | 71288,09 | 63035,59 | 180 | 56 | ||||||||||
| PKDD127 | 36,3 | 37,5 | 1,2 | 0,90 | 1,50 | 71233,69 | 63040,15 | 180 | 57 | ||||||||||
| PKDD138 | 2,70 | 5,70 | 3,0 | 2,42 | 4,53 | 71340,01 | 62993,98 | 171 | 68 | ||||||||||
| Eastern Pakrut | |||||||||||||||||||
| Ore Zone 14 | |||||||||||||||||||
| EPKDD111 | 214 | 221,5 | 7,5 | 3,62 | 2,66 | 73930,19 | 62830,98 | 205 | 85 | ||||||||||
| EPKDD111 | 226,0 | 229,0 | 3,0 | 1,45 | 1,00 | 73930,19 | 62830,98 | 205 | 85 | ||||||||||
| EPKDD113 | 75 | 82,5 | 7,5 | 3,85 | 2,44 | 73998,86 | 62779,29 | 25 | 85 | ||||||||||
Table 2: Drill Hole Depths
| BHID | Total Depth | ||
| Pakrut | |||
| PKDD95 | 432.3m | ||
| PKDD123 | 425.3m | ||
| PKDD124 | 178.0m | ||
| PKDD125 | 560.7m | ||
| PKDD126 | 377.5m | ||
| PKDD127 | 447.0m | ||
| PKDD129: | 280.2m | ||
| PKDD130: | 437.9m | ||
| PKDD132: | 340.3m | ||
| PKDD134: | 360.5m | ||
| PKDD136: | 328.2m | ||
| PKDD138: | 548.2m | ||
| PKRC-117: | 218.6m | ||
| Eastern Pakrut | |||
| EPKD111: | 250m | ||
| EPKD113: | 138m | ||
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
Katy Mitchell, WH Ireland Limited
Tel: +44 (0) 161 832 2174
Christian Dennis, Optiva Securities
Tel: +44 (0) 203 137 1903
About the Pakrut Gold Project
The Pakrut gold project, of which Kryso has 100% ownership, is situated in Tajikistan approximately 112km northeast of the capital city Dushanbe. Pakrut has total JORC Code-compliant gold resources of approximately 3 million ounces (assuming a cut-off grade of 0g/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 6.1g/t Au, 42m at 11.2g/t Au and 50m at 5.7g/t 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.
Qualified Person
All geological results have been approved for release by Dr Trevor Davenport B.Sc, M.Sc, Ph.D, MIMM, C.Eng, Non-Executive 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.
g/t: grams per tonne.
JORC Code: The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, as published by the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia.
m: metre.
oz: troy ounce.
Resource: An estimated tonnage and grade of mineralization in the ground.
t: metric ton.
Copyright Business Wire 2011