Kryso Resources has formed a strategic alliance with Great Basin Gold through the placing with Great Basin of new Ordinary Shares. Great Basin Gold will own 15.24% of the Enlarged Issued Share Capital after the placing. The proceeds are to be used to continue the exploration diamond drill program at the Pakrut gold deposit, simultaneously to complete the feasibility study on Pakrut and to conduct a geophysical survey and drill programme at the Hukas nickel-copper project.

The existence of mineral deposits in this area was identified in the 1940s and was systematically explored until the early 1980s. The Pakrut Licence Area is located north-east of the capital city Dushanbe from which it can be accessed in three and a half hours by sealed bitumen road for the first 58km to the town of Ramit on the Sorba River, and then northward along the Sardi-Miena river by dirt road for a further 53km.

It was during the late 1970s that the Soviets carried out sufficient work on the Pakrut gold deposit to delineate a resource using the Soviet Resource Classification. Total (C2+P1 - Russian system) resources have been estimated at 8.57 million tonnes at 3.75 grams/tonne gold. www.kryso.com

News sourced from International Mining Project News - www.im-mining.com