9th Sep 2008 07:00
9 September 2008 Kryso Resources plc ('Kryso' or 'the Company') AIM: KYS Resource Statement Increase at the Pakrut Gold Project
- 1.7 million ounces of gold now defined to JORC standards at Pakrut
- 16 percent increase in grade on last JORC Code - compliant statement
- 65 percent increase in resource ounces of gold
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 an updated JORC Code-compliant Mineral Resource Statement for the main deposit at the Pakrut gold project increasing the size of the resource. 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 recent new drill hole information, represents approximately a 65 percent increase in ounces of gold on their previous Resource Statement prepared in November 2007. Total JORC Code-compliant resources within the main Pakrut deposit now stand at 1,739,029 ounces at a cut-off grade of 0.5 g/t. Of this JORC Code-compliant resource, 67 percent is in the Measured and Indicated categories, which is a 30.7 percent increase on the previous Resource Statement.
Kryso Resources' Managing Director, Vassilios Carellas comments:
'We are very pleased to have identified a JORC Code-compliant resource at Pakrut in excess of 1.7 million ounces gold. Recent drilling of Ore Zone 1 confirms Kryso's belief that the mineralization is continuing at deeper levels. We still have numerous additional targets and expect further resource increases in the coming years.
It is also gratifying to see a 31 percent increase 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'.
Table 1.1
Pakrut August 2008 Resource Summary
MEASUREDCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 9,884,847 2.83 899,5361.0 8,896,708 3.05 872,1443.0 2,663,972 6.08 520,838 INDICATEDCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 3,527,262 2.37 268,2531.0 3,048,040 2.6 254,6213.0 667,231 6.48 138,918 MEASURED and INDICATEDCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 13,412,109 2.71 1,167,7891.0 11,944,748 2.93 1,126,7653.0 3,331,203 6.16 659,756 INFERREDCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 7,971,793 2.23 571,2401.0 6,765,490 2.48 539,0373.0 1,937,756 5.07 315,893 TOTALCut-Off Tonnes Au Metal(Au g/t) (metric) (g/t) (Oz)0.5 21,383,902 2.53 1,739,0291.0 18,710,238 2.77 1,665,8023.0 5,268,959 5.76 975,650
For further information, please contact:
Vassilios Carellas / Dr. Trevor Davenport, Kryso Resources plc.
Tel: 020 7371 0600Brett Miller, Ruegg & Co Ltd.Tel: 020 7584 3663
Richard Hail, Fox-Davies Capital Limited.
Tel: 020 7936 5200
Christian Dennis, Orbis Equity Partners Limited.
Tel: 020 3178 3977 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 nearly 22 Mt averaging 2.53 g/ t Au. This total includes just under 10 Mt of Measured Mineral Resources at an average grade of 2.83 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 in July 2008.
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 wire-framed volume model filled with orthogonal blocks 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.
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 and in some cases where the data density is deemed insufficient 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 this report that relates to Mineral Resources is based on information compiled by Mr Deon van der Heever and Mr Vassilios Carellas.
Mr Deon 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 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 - grammes 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.
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