Kryso Resources (AIM: KYS) has increased the JORC-compliant resource estimate for the Pakrut gold project in Tajikistan after new inferred resources of 245,243 ounces of gold have been estimated for ore zones 5, 6, 7, 14 and 16.
The Pakrut gold project is Kryso Resources flagship project, which sits at the centre of a large licence area of some 6,300 hectares, alongside a number of other smaller mineralised systems. The project is currently well on the way to completion of a bankable feasibility study.
The total JORC compliant resource at Pakrut now stands at 1,984,272 ounces gold, assuming a cut-off grade of 0.5 grams per ton, up from the 1,739,029 ounces estimated at the end of December 2008.
Some 853 samples from drilling at Pakrut are being sent to the SGS Lakefield assay laboratory in South Africa for analysis. The samples are primarily from drilling of the lower levels of ore zone 1. Kryso plans to complete an update for the overall estimate for Pakrut’s resources within six weeks, using the results of these assays. A further increase in the total JORC-compliant resources of the project is expected.
In the meantime, drilling is continuing at Pakrut, and is currently focusing on the lower levels of ore zone 1 and on ore zones 5 and 6.
A bankable feasibility study for the Pakrut project based on a mining operation producing in excess of 100,000oz Au per annum is currently in progress, and is targeted for completion before the end of 2009.
"Following on from the news last month that mineralization from the virtually unexplored Ore Zone 6 was intersected over approximately 30m by drilling at Pakrut, these new JORC Code-compliant resources from Ore Zones 5, 6, 7, 14 and 16 show that the Pakrut deposit still has much to give in terms of additional Resources,” stated Trevor Davenport, acting Managing Director and Non-Executive Chairman of Kryso Resources. “Drilling is continuing at Pakrut, and Kryso is highly optimistic with regard to the updated overall estimate of the Pakrut project's JORC Code-compliant resources that is planned to be completed within the next six weeks."
Trevor Davenport has been with the company since 2004 and visits Tajikistan regularly. Before joining Kryso Resources he had been with both Nelson Resources and Zeravshan Gold.
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