28 September 2009
Kryso Resources plc
(`Kryso' or `the Company')
AIM: KYS
Drilling at Pakrut Gold Project Returns Excellent Intersections in Ore Zones 1,2,3 and 7
- Highlights include intersections of 7.5m at 26.23g/t Au and 34.5m at 4.92g/t
Au
- Results will be incorporated into JORC Code-compliant Pakrut resource update
expected imminently
- Further drill results from Pakrut will be available in the near future
- Site visit completed by BGRIMM as part of ongoing Pakrut project bankable
feasibility study
Kryso Resources plc, the gold exploration and development company that 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. The assay results have been received from the independent
assay laboratory used by the Company, SGS Group in South Africa.
Mineralised Intersections
BHID From (m) To (m) Interval (m) Grade (g/t Au)
Ore Zone 1
PKDD82 234 255 21.0 3.95
PKDD86 262.2 269.7 7.5 2.31
PKDD87 215.7 234.5 18.8 5.35
PKDD87 257 264.5 7.5 5.09
PKDD87 282.5 288.5 6.0 8.56
PKDD88 250.0 284.5 34.5 4.92
PKDD89 276 281 5.0 2.92
Ore Zone 2
PKDD82 169.5 177 7.5 26.23
PKDD84 233.7 251.7 18.0 3.84
PKDD84 301.2 315.5 14.3 4.40
Ore Zone 3
PKDD82 19 28 9.0 1.10
PKDD82 46 63.5 17.5 1.37
PKDD84 101.7 112.2 10.5 1.02
PKDD84 172.2 175.2 3.0 1.65
PKDD85 55 64 9.0 5.51
PKDD86 100.2 102 1.8 1.21
PKDD87 55.2 56.7 1.5 3.03
PKDD88 49 50.5 1.5 0.74
PKDD89 105 112.5 7.5 1.88
Ore Zone 7
PKDD81 142.2 146.7 4.5 1.55
PKDD83a 146.5 147.5 1 2.9
Progress of Bankable Feasibility Study
The Beijing General Research Institute for Mining & Metallurgy (BGRIMM), which
has been appointed by Kryso to complete the Pakrut project BFS, carried out a
site visit in early September. The BGRIMM sent 6 personnel for Tajikistan for
an 8 day period in order to gather data and fully appraise the Pakrut site and
facilities. In addition, metallurgical samples have been sent from Tajikistan
to China for analysis.
Trevor Davenport, Non-Executive Chairman and acting Managing Director of Kryso,
comments:
`These very favourable results from drilling at Pakrut will be reflected in the
upcoming JORC Code-compliant resource update for the project, which we expect
to be available shortly and for which we have highly positive expectations. It
is also notable that some of the shallower intersections reported above fall
within the likely extent of the proposed Pakrut open pit.
The BGRIMM completed a successful site visit to Pakrut earlier this month and
remain on track to complete the Pakrut project BFS before the end of 2009.'
About the Pakrut Gold Project
The Pakrut gold project, of which Kryso has 100% ownership, is situated in
western Tajikistan approximately 112 km northeast of the capital city Dushanbe.
Pakrut has total JORC Code-compliant gold resources of 1,984,272 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 for Mining & Metallurgy.
The bankable feasibility study is scheduled for completion before the end of
2009 and is targeting a mining operation 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
Brett Miller, Astaire Securities plc
Tel: +44 (0) 20 7448 4498
Christian Dennis, Orbis Equity Partners Ltd
Tel: +44 (0) 20 3137 1902
Jason Bahnsen, Fox-Davies Capital Ltd
Tel: +44 (0) 20 7936 5200
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.
Grade 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 mineralisation in the ground.
t: metric tonne.