Last checked at 20 Apr 2010 12:25
20 April 2010 Kryso Resources plc (`Kryso' or `the Company') Further Excellent Drill Intersections from Pakrut Gold Deposit
Highlights:
* Ore Zone 1: 25.5m at 7.5 g/t, 42.4m at 5.4 g/t and 12.0m at 6.4 g/t Au * Ore Zone 3: 9.0m at 7.5 g/t and 13.5m at 7.5 g/t Au (with 4.5m at 20.1 g/t) * Updated resource estimate will form part of the Pakrut Bankable Feasibility Study (`BFS') * BFS results expected to be available at the end of Q2 2010
Kryso Resources plc, an AIM listed gold exploration and development company, is advancing its Pakrut gold project in Tajikistan through a bankable feasibility study (BFS), is pleased to report highly encouraging assay results from drilling at Pakrut completed in the second half of 2009. The results have been received from the SGS Group in South Africa, the independent assay laboratory used by the Company. Significant intercepts were obtained from 12 of the 14 holes analysed.
In Ore Zone 1, mineralization was intercepted at depths of 230-400m below the adit level, confirming that the mineralization is consistent and occurs at economic grades to at least these depths. The deepest hole drilled at Pakrut during the Soviet era vertically intersected Ore Zone 1 at 508m, reportedly returning 34.4g/t Au over 2m. Ore Zone 1 remains open at depth.
The two high grade intercepts recorded in the shallower areas of Ore Zone 3 indicate that this zone is considered highly likely to host economic grade mineralization. Similarly, intersections in Ore Zone 6a are at potentially economic grades (see full results table below).
Overall, the results confirm the near vertical attitude and consistent shape of the Pakrut ore bodies, which are likely to be amenable to underground mining methods.
Trevor Davenport, Non-Executive Chairman and interim Managing Director of Kryso, comments:
`These results indicate that there is excellent potential to expand the underground resource base at Pakrut, and vindicate the decision to reorient the Pakrut BFS around an underground mining case. In this context, the results from Ore Zone 1 continue to show good grades and continuity at depth, is particularly exciting. Combined with the intersections from drilling in the first half of 2009 and subject to the findings of the BFS, these results suggest that Pakrut has potential to develop into a significant underground gold mining operation.'
Table 1: Pakrut Mineralized Intersections
BHID From (m) To (m) Interval (m) Grade (g/t Au) Ore Zone 1 PKDD91a 223.2 242.7 19.5 2.9 PKDD91a 250.2 253.2 3.0 7.5 PKDD96 337 344.5 7.5 3.0 PKDD96 355 362.5 7.5 2.4 PKDD96 368.5 377.5 9.0 3.9 PKDD97 266.7 292.2 25.5 7.5 PKDD100 485.0 491.5 6.5 1.5 PKDD101 371.0 376.1 5.1 5.4 PKDD101 385.1 394.1 9.0 5.1 PKDD101 415.1 436.1 22.5 5.2 PKDD101 446.6 458.6 12.0 6.4 PKDD101 475.1 487.1 12.0 4.0 PKDD102 446.6 489.0 42.4 5.4 PKDD102 494.1 506.2 12.1 4.7 Ore Zone 1a PKDD98a 231.5 233.0 1.5 4.7 Ore Zone 2 PKDD99 426.0 429.0 3.0 4.7 Ore Zone 3 PKDD91a 41.7 43.2 1.5 9.2 PKDD96 160 161.5 1.5 2.8 PKDD97 13.2 22.2 9.0 7.5 PKDD99 118.5 120.0 1.5 1.8 PKDD100 194.5 208.0 13.5 7.5 PKDD100 271.0 277.0 6.0 2.5 Ore Zone 6 PKDD102 10.5 19.5 9.0 1.8 PKRC116 156.0 158.0 2.0 3.1 PKRC119 101.5 104.5 3.0 1.8 PKRC121 112.0 115.0 3.0 4.9 PKRC121 151.0 152.0 1.0 2.8 Ore Zone 6a PKRC117 203.6 207.4 3.80 8.2 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 2.8 million ounces (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 6.1g/t Au, 42m at 11.2g/t Au and 50m at 5.7g/t Au. A bankable feasibility study (BFS) for the Pakrut project is currently being undertaken by the Beijing General Research Institute of Mining & Metallurgy (BGRIMM).
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
Katy Mitchell, WH Ireland Limited
Tel: +44 (0) 161 832 2174
Christian Dennis, Orbis Equity Partners Limited
Tel: +44 (0) 20 3137 1902
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 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 and production of base or precious metals or other minerals in such form and containing such detail as is customarily required by a bank or other financial institution engaged in mining project finance to enable it to determine whether to finance the development of a commercial mining operation.
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.
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