Last checked at 11 Dec 2007 07:00
11 December 2007 Kryso Resources plc (`Kryso' or `the Company') AIM: KYS Geophysical Results from Hukas Nickel-Copper Project in Tajikistan * Three geophysical anomalies outlined at Hukas by TEM survey one of which is approximately one kilometre in strike length * Drill testing of the anomalies planned for next year
Kryso Resources plc, the mineral exploration and development company with over 1 million ounces of JORC code compliant gold resource at its Pakrut gold project in Tajikistan is pleased to announce that LOGANTEK, a geophysical services company primarily active in Asia, has reported the results of the TEM geophysical survey, which was recently completed at the Company's Hukas nickel-copper project in Tajikistan.
The results of the survey indicate three anomalies located in gabbro-noritic rocks. The Hukas area was previously investigated by the Soviets, who discovered several occurrences of nickel-copper mineralization. One small exposed mineralized lens returned average grades of 2.86% nickel, 1.26% copper, 0.83% cobalt and 2.3g/t PGM from surface trenching and two drill holes.
The TEM survey, consisted of 22 kilometres of fixed-loop surveying from which the three significant TEM conductivity anomalies were identified.
The anomalies conform to the strike and dip of gabbro-norites, which are known to host the nickel sulphide mineralization in the area. An extensive anomaly was identified close to the Hukas Stream, and two more at the Mandara Stream, located a few kilometres to the north within the Company's licensed exploration area.
The Hukas Stream anomaly strikes in a north-easterly direction with a length of one kilometre and is still open to the north. The depth below the surface at which the anomaly occurs varies between 60m and 100m and dips to the east; its width is up to 50m. The depth extension is over 200m, and is still open.
The two Mandara Stream anomalies strike in a north-easterly direction for 300m and are open along strike. Both anomalies start from between 60m to 100m below surface and dip in an easterly direction.
Kryso Resources' Managing Director Vassilios Carellas, comments:
`The results of the TEM survey have exceeded the Company's expectations and are now being used to plan a drill programme to investigate these anomalies next year. The survey forms an important first step in what will be a comprehensive exploration programme at Hukas, which we believe has great potential to host an economic deposit. There is currently a local Geological Expedition drill on site with which we plan to begin drilling next spring. In addition Kryso is looking to source one or two more rigs locally to assist with the drill programme'
For further information, please contact:
Vassilios Carellas/Craig Brown, Kryso Resources plc.Tel: 020 7371 0600Brett Miller, Ruegg & Co Ltd.Tel: 020 7584 3663Richard Hail, Fox-Davies Capital Limited.Tel: 020 7936 5200
Stephen Clayson/Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: 020 7628 5518
All exploration results have been approved for release by Dr Trevor Davenport B.Sc, M.Sc, Ph.D, MIMM, C.Eng, Chairman of Kryso Resources plc. Trevor has more than 35 years experience in the mining industry and has consented to the inclusion of the material in the form and context in which it appears.
Mr Kieran Logan, proprietor of LOGANTEK, who has a B.Sc. Degree in Mathematics and Exploration Geophysics, is an active member of the Australian Society of Exploration Geophysicists (ASEG) and has been engaged in mining exploration since 1981 as a mineral exploration geophysicist, also approves of the inclusion of the material in the form and context in which it appears. He is also independent of Kryso, and has no financial interest or rights in the client or the property surveyed.
Glossary:
Anomaly:
Any departure from the norm; a local feature distinguishable in a geophysical or geochemical measurement over a larger area; may indicate the presence of mineralization in the underlying rocks.
PGM:
Platinum Group Metals - consisting of platinum, palladium, rhodium, ruthenium, osmium and iridium
Strike:
The direction, or bearing from true north, of a vein, rock formation or structure measured on a horizontal surface.
TEM/TDEM survey: Time Domain EM; an electromagnetic system which transmits a pulsed or stepped electromagnetic field, inducing an electrical current (eddy current) in the ground that persists after the primary field is turned off, and measures the change over time of the secondary field created as the currents decay.
About Kryso Resources plc:
Kryso is an AIM-listed mineral exploration and development company focussed on progressing the advanced stage Pakrut gold project and the exploration stage Hukas nickel-copper project in Tajikistan.
A bankable feasibility study is underway on the Pakrut project with completion scheduled for the first quarter of 2008. Initial gold production is expected in the last quarter of 2009. A JORC Code-compliant resource of 1,056,600 ounces of gold has been defined for the project, assuming a 0.5g/t cut off grade. Furthermore, almost 85 per cent of Pakrut's JORC Code-compliant resources fall into the Measured and Indicated categories.
Tajikistan is one of the more politically stable nations in Central Asia, and the Company's management team has many years of experience in the country.
KRYSO RESOURCES PLC