Last checked at 20 Nov 2007 07:00
20 November 2007 Kryso Resources plc (`Kryso' or `the Company') AIM: KYS Resource Statement Increase - Pakrut Gold Project
- In excess of 1 million ounces of gold now defined to JORC standards at Pakrut
- 77 per cent increase on last JORC Code - compliant statement
- Bulk of Mineral Resource is in Measured and Indicated categories
Kryso Resources plc, the mineral exploration and development company with gold and nickel-copper projects in Tajikistan, is pleased to announce that GeoLogix Mineral Resource Consultants (Pty) Ltd. (`GeoLogix') has completed a JORC Code-compliant Mineral Resource Statement for the main deposit at the Pakrut gold project. Based upon geological data provided by Kryso, GeoLogix can verify that the data is of sufficient quality to support the resource classifications applied.
The GeoLogix Resource Statement, incorporating the new drill hole information, represents approximately a 77 per cent increase on the original Resource Statement prepared by Snowden Mining Industry Consultants in March of this year. Total JORC Code-compliant resources within the main Pakrut deposit now stand at 1,056,600 ounces, at a cut-off grade of 0.5 g/t. Almost 85 per cent of the JORC Code-compliant resource now fall into the Measured and Indicated categories, which is a 198% increase on the previous Resource Statement.
Table 1.1
Pakrut November 2007 Resource Summary
MEASUREDCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 9,361,011 2.49 749,6691.0 8,324,225 2.70 721,5693.0 2,125,066 5.43 371,307INDICATEDCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 2,771,667 1.62 144,0331.0 2,121,617 1.87 127,6733.0 220,181 4.28 30,293
MEASURED and INDICATED
Cut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 12,132,678 2.29 893,7021.0 10,445,842 2.53 849,2423.0 2,345,247 5.33 401,600INFERREDCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 2,914,053 1.74 162,8851.0 2,107,913 2.10 142,0103.0 288,134 4.23 39,180TOTALCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 15,046,730 2.18 1,056,5871.0 12,553,755 2.46 991,2533.0 2,633,382 5.21 440,780
Kryso Resources' Managing Director, Vassilios Carellas comments:
`We are very pleased to have identified JORC Code-compliant resources at Pakrut in excess of one million ounces gold. With the mineralization open in three directions at Pakrut and additional mineralization identified during the period of the Soviet Union in the Pakrut Valley, we have numerous additional drill targets and expect to increase the resource substantially in the coming years.
Historic Soviet resource estimates had always indicated that the main Pakrut deposit contained more than a million ounces, but the confirmation of this to JORC standards is a real step forward for Kryso.
It is also pleasing to see such a large proportion of the JORC Code-compliant ounces in the Measured and Indicated categories.
The Mineral Resource estimated by GeoLogix will underpin the bankable feasibility study now underway for the Pakrut project. We expect this study to be available during the first quarter of next year.'
On the 21st and 22nd of November 2007, Kryso Resources plc will have a stand at the `MINES AND MONEY 2007' Exhibition at the Business Design Centre, 52 Upper Street, Islington; all the Kryso directors will be in attendance should any further information be required.
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
Notes:
The Mineral Resource estimated by GeoLogix has been tabulated above block model cut-offs of 0.5 g/t Au, 1.0 g/t Au and 3.0 g/t Au in Table 1.1. At a gold cut-off of 0.5 g/t the total Mineral Resource is 15 Mt averaging 2.18 g/t Au. This total includes 9.3 Mt of Measured Mineral Resources at an average grade of 2.49 g/t Au.
The resource has been classified as Measured, Indicated and Inferred categories according to the 2004 JORC Code and is based on the mineralization interpretations and data supplied by Kryso on 5 November 2007.
The data used for the resource estimation is comprised of diamond drilling, surface trenching and channel sampling. GeoLogix has reviewed the drilling and sampling data underlying the resource estimate, and, following suitable adjustments, can verify that the data is of sufficient quality to support the resource classifications applied.
Ordinary kriging was used to estimate gold grade into a constrained block model reflecting the interpreted geology. Where appropriate, grade capping was applied prior to estimation. Search ellipses and ranges used in the estimation reflect the spatial continuity and the mineralization trends of each of the four mineralized domains.
A Jack-Knifing analysis was undertaken to optimize the estimation parameters in order to minimize conditional bias in the estimate.
GeoLogix has based the resource classification upon a number of criteria, including the geological confidence, the integrity of the data, the spatial continuity of the mineralization as demonstrated by variography, and the quality of the estimation. The parts of the resource that were estimated by utilizing half the distance of the variogram range have been classified as Measured Resources.
The parts of the resource model that were estimated up to the distance of the variogram range have been classified as Indicated Resources. All other areas of the resource have been classified as Inferred Resources.
An average in situ density of 2.57 t/m3 has been applied to the oxide zone of the mineralization and 2.62 t/m3 has been applied to the fresh zones of the mineralization. The in situ density values reflect the average value of the determinations made from the diamond core collected by Kryso.
The information in the report which is to follow this statement and that relates to Mineral
Resources is based on information compiled by Mr Deon van der Heever and Mr Vassilios Carellas.
Mr Van der Heever is a member of the South African Council for Natural and Associated Scientific Professions (SACNASP) and Mr Carellas is a member of The Australasian Institute of Mining and Metallurgy.
Mr Deon van der Heever (Pr.Sci.Nat) is the Executive Director of GeoLogix and produced the resource estimate based upon the interpretations provided by Kryso. Mr Van der Heever has sufficient experience which is relevant to the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.
Mr Van der Heever consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Mr Vassilios Carellas (MAusIMM) is a full time employee of Kryso Resources plc and provided geological interpretations and the drillhole and trench database for Mineral Resource estimation.
Mr Carellas has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.
Mr Carellas consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Glossary:
Grade g/t - Grams per tonne
Jack-Knifing Analysis - is a general non-parametric method for estimation of the bias and variance of a statistic using only the sample itself.
JORC Code - Australian 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.
Variogram - A two-point statistical function that describes the increasing difference or decreasing correlation or continuity, between sample values as separation between them increases.
KRYSO RESOURCES PLC