China Nonferr Regulatory News (CNG)

14 Aug 2006 09:28

14 August 2006 KRYSO RESOURCES plc KRYSO RECEIVES NEW NICKEL COPPER LICENCE Kryso Resources plc ("Kryso") is pleased to announce that the Company hasreceived the exploration licence, through its subsidiary in Tajikistan LLC KuhiZarrin, for the Hukas nickel - copper prospect situated in central-easternTajikistan.LLC Kuhi Zarrin is 100% owned by Kryso Resources plc and this new licenceallows for 100% of the exploration rights for the Hukas nickel - copperprospect. The exploration licence is for a term of 7 years. Upon confirmationof an economic resource and completion of a feasibility study, approved by thegovernment of Tajikistan, a mining licence will then be issued.The Hukas prospect was identified during Soviet times and under investigationat the time of the collapse of the Soviet Union. Surface outcrops andmineralization intersected by core drilling have returned average grades of2.86% nickel, 1.26% copper, 0.08% cobalt and platinum group elements of 2.3grams per tonne.Kryso is in the process of reviewing the original Soviet exploration data,which includes geophysical data. LLC Kuhi Zarrin has entered into an agreementwith the Pamir Geological Expedition of Tajikistan to complete a trenchingprogramme to verify previously reported surface mineralization. The trenchingprogramme has been initiated and should be completed in October this year. Thesamples will then be analysed in Kryso's laboratory in Dushanbe.The results of the trenching programme and the review of previous explorationdata will provide information for Kryso to plan the next geological explorationphase, including a preliminary diamond drill programme, for next year.In addition to the reported nickel - copper mineralization, indications of goldhave been encountered in the licence area, which the Company believes warrantsfurther detailed investigation.Kryso Resources plc owns 100% of the rights to the Pakrut Gold Deposit locatedin the Republic of Tajikistan. The deposit is located within the 63sq.km PakrutLicensed Area within which are the Eastern Pakrut, Sulphidnoye and Rufigarprospects.Development of the Pakrut Gold Deposit is continuing as planned with over 1,000metres of core drilling for the month of July with all three rigs drillingunderground. Samples of the ore zones for the first 25 drill holes have beensent to SGS Lakefield Research in South Africa for fire assay and metallurgicaltestwork. To date, nearly 5,000 metres of diamond drilling has been carried outand over 500 linear metres of underground development have been completed.For further information please contact:Kryso Resources plcDr. Trevor DavenportTelephone 01481 822972Vassilios CarellasMobile 07970 756352Hitchens, Harrison & Co plcDave PaxtonTelephone 020 7382 7785ENDKRYSO RESOURCES PLC