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17 Nov 2009 07:00
17 November 2009 Kryso Resources plc (`Kryso' or `the Company')
Pakrut Gold Project Resource Update Increases Total JORC Resources to 2,830,104 oz Au
- Increase of approximately 43% in Pakrut's total JORC Code-compliant resources
- Further increase expected once all results from 2009 drilling are incorporated
- Measured & Indicated resources increased by 165,751 oz Au
Kryso Resources plc (AIM: KYS), the gold exploration and development companythat is advancing its Pakrut gold project in Tajikistan through a bankablefeasibility study (BFS), is pleased to announce that GeoLogix Mineral ResourceConsultants (Pty) Ltd (GeoLogix) has completed an updated JORC Code-compliantresource estimate for Pakrut.
Pakrut Gold Project - JORC Code-Compliant Resource Summary
TotalCut-off Tonnes Au Au(Au g/t) (metric) (g/t) (oz)0.5 36,029,076 2.44 2,830,1041.0 32,119,081 2.64 2,725,3683.0 8,391,870 5.08 1,369,482MeasuredCut-off Tonnes Au Au(Au g/t) (metric) (g/t) (oz)0.5 11,152,663 2.62 940,7451.0 9,997,240 2.83 909,8023.0 2,665,946 5.56 476,847IndicatedCut-off Tonnes Au Au(Au g/t) (metric) (g/t) (oz)0.5 5,838,129 2.09 392,7951.0 4,799,435 2.37 365,1993.0 861,179 5.23 144,765Measured + IndicatedCut-off Tonnes Au Au(Au g/t) (metric) (g/t) (oz)0.5 16,990,792 2.44 1,333,5391.0 14,796,675 2.68 1,275,0003.0 3,527,126 5.48 621,613InferredCut-off Tonnes Au Au(Au g/t) (metric) (g/t) (oz)0.5 19,038,283 2.45 1,496,5641.0 17,322,406 2.60 1,450,3673.0 4,864,744 4.78 747,869
Dr. Trevor Davenport, Non-Executive Chairman and acting Managing Director of Kryso, comments:
`I am very pleased to see such a major increase in Pakrut's total JORCCode-compliant resources, and we expect to achieve a further increase in thefirst half of next year following the incorporation of additional results fromthis year's drilling into the resource.'
About the Pakrut Gold Project
The Pakrut gold project, of which Kryso has 100% ownership, is situated in Tajikistan approximately 112 km northeast of the capital city Dushanbe.
Pakrut has total JORC Code-compliant gold resources of 2,830,104 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 being undertaken by the Beijing General Research Institute of Mining & Metallurgy. The bankable feasibility study is targeted for completion before the end of 2009.
An internal prefeasibility study completed in 2008 envisaged a mining operation at Pakrut producing in excess of 100,000oz Au per 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
Gavin Burnell, Astaire Securities plcTel: +44 (0) 20 7448 4400Christian Dennis, Orbis Equity Partners LtdTel: +44 (0) 20 3137 1902Jason Bahnsen, Fox-Davies Capital LtdTel: +44 (0) 20 7936 5200
Notes
The Mineral Resource, as defined by the 2004 Edition of the Australasian Codefor Reporting of Exploration Results, Mineral Resources and Ore Reserves (theJORC Code), estimated by GeoLogix has been tabulated above block model cut-offsof 0.5g/t Au, 1.0g/t Au and 3.0g/t Au. The resource has been classified asMeasured, Indicated and Inferred according to the JORC Code and is based onmineralization interpretations and data supplied by Kryso.The data used for the resource estimation is comprised of diamond drilling,surface trenching and channel sampling. GeoLogix has reviewed the drilling andsampling data underlying the resource estimate and can verify that the data isof sufficient quality to support the resource classifications applied.The ordinary kriging and inverse distance cubed estimators were used toestimate gold grade into a wire-framed volume model filled with orthogonalblocks reflecting the interpreted geology. Where appropriate, grade capping wasapplied prior to estimation. Search ellipses and ranges used in the estimationreflect the spatial continuity and the mineralization trends of each of thefour mineralized domains.GeoLogix has based the resource classification upon a number of criteria,including the geological confidence, the integrity of the data, the spatialcontinuity of the mineralization as demonstrated by variography, and thequality of the estimation. The parts of the resource that were estimated byutilizing half the distance of the variogram range, above 400m below surfaceand estimated with a minumum of 10 samples have been classified as Measured.The parts of the resource model that were estimated up to the distance of thevariogram range, above 400m below surface and estimated with a minimum of 5samples have been classified as Indicated. All other areas of the resource andin some cases where the data density is deemed too low have been classified asInferred Resources. An average in situ density of 2.57 t/m3 has been applied tothe oxidized zone of the mineralization and 2.62 t/m3 has been applied to thefresh zones of the mineralization. The in situ density values reflect theaverage value of the determinations made from the diamond core collected byKryso.
The information in this report that relates to Mineral Resources as defined under the JORC Code is based on information compiled by Mr Deon van der Heever, Mr Dave Briggs and Dr. Trevor Davenport.
Mr Deon van der Heever (Pr.Sci.Nat) is the Executive Director of GeoLogix andproduced the resource estimate based upon the interpretations provided byKryso. Mr Van der Heever has sufficient experience relevant to the type ofdeposit under consideration and to the activity which he is undertaking toqualify as a Competent Person as defined under the JORC Code. Mr Van der Heeverconsents to the inclusion in this report of the matters based on hisinformation in the form and context in which it appears.Mr Dave Briggs (Pr.Sci.Nat) is a Director of GeoLogix and contributed inproducing the resource estimate based upon the interpretations provided byKryso. Mr Briggs has sufficient experience relevant to the type of depositunder consideration and to the activity which he is undertaking to qualify as aCompetent Person as defined under the JORC Code. Mr Briggs consents to theinclusion in this report of the matters based on his information in the formand context in which it appears.Dr. Trevor Davenport (B.Sc, M.Sc, Ph.D, MIMM, C.Eng) is Non-Executive Chairmanand acting Managing Director of Kryso Resources plc and provided geologicalinterpretations and the drillhole and trench database for Mineral Resourceestimation. Dr. Davenport has sufficient experience relevant to the style ofmineralization and type of deposit under consideration and to the activitywhich he is undertaking to qualify as a Competent Person as defined under theJORC Code. Dr. Davenport consents to the inclusion in this report of thematters based on his information in the form and context in which it appears.
Glossary
Au - The chemical symbol for gold.
Bankable feasibility study - A study of the economic viability of the miningand production 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.
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.
Grade g/t - Grams per tonne.
Jack-Knifing Analysis - A general non-parametric method for estimation of the bias and variance of a statistic using only the sample itself.
JORC Code - The 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.
Kriging - A statistical technique used with variograms, or two-point statistical functions that describe the increasing difference or decreasing correlation between sample values as separation between them increases, to determine the value of a point in a heterogeneous grid from known values nearby.
m - Metre.oz - Troy ounce.
Resource - An estimated tonnage and grade of mineralisation in the ground.
t - Metric tonne.
Variogram - A two-point statistical function that describes the increasing difference or decreasing correlation or continuity between sample values as separation between them increases.
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