DUSHANBE, January 8, 2014, Asia-Plus — China Nonferrous Gold Limited (CNG) (formerly Kryso Resources Corporation Limited) is a London Stock Exchange AIM-listed mineral exploration and development company, focused on projects in Tajikistan.
According to information posted on CNG’s website, the company was granted an exploration and trial license over the Pakrut License area, covering 63 square kilometers, in April 2004. The license area is located in the Tian Shan Gold Belt – the world”s second largest known gold belt.
CNG”s primary goal is to bring the Pakrut Gold Project, of which it has 100% ownership, into production.
Tajik Government granted a full mining license for the Pakrut Gold Project to CNG in January 2012. This mining license is valid until November 2030.
Total JORC Code-compliant resources of 4,720,000oz Au, assuming a 0.5g/t cut-off grade, have been defined at the Pakrut Gold Project. The Pakrut deposit remains open and is expected to yield further JORC Code-compliant resources over time, with substantial drilling programs ongoing.
The Beijing General Research Institute of Mining and Metallurgy (BGRIMM) completed a revised Bankable Feasibility Study on the Pakrut Gold Deposit. This BFS continues to be optimized. Construction of mine infrastructure commenced in October 2011. The underground mine construction commenced in September 2012 with production scheduled to commence in 2014.
In addition to the Pakrut Gold Project, CNG is focusing on three additional mineralized systems within the exploration license area – Eastern Pakrut, Rufigar and Sulfidnoye. Drilling to date at these sites has been very encouraging.
The directors of CNG reportedly have a track record of operating successfully in Tajikistan and believe CNG to have been the first foreign company to obtain 100% ownership of a mining and exploration project in Tajikistan.
