Kryso Resources plc - Hukas Ni-Cu Project

Hukas Ni-Cu-Co-PGM Project

Pakrut and Eastern Pakrut Deposits

The Hukas Ni-Cu-Co-PGM project is contained with Kryso’s Gishun Licence Area, which is located in central Tajikistan approximately 325km from the capital city Dushanbe. Kryso was granted a seven year exploration licence over the Gishun Licence Area in June 2006, and has 100% ownership of the licence.

At Hukas an exposed, partially oxidized, lens-like body of sulphide mineralization was identified as early as 1932, although it was not until the 1960s that further indications of nickel, copper and cobalt mineralization were discovered in the area.

During the Soviet era, the outcrop was trenched and several holes were drilled into its expected extension. Analysis of the resulting samples returned excellent average grades of 2.86% Ni, 1.26% Cu, 0.084% Co and 2.3g/t PGM. Further exploration between 1973 and 1990 identified additional mineralization nearby, and one drill hole intersected a 2.85m zone of sulphide mineralization at approximately 100m depth. After a detailed geophysical survey was carried out a second hole was drilled 80m away. This hole, which was located 500m to the east of the outcrop, intersected 2.2m of mineralization with grades of 1.43% Ni, 0.88% Cu and 0.088% Co. However Soviet funding for geological exploration in Tajikistan came to an abrupt halt in 1990 and as a result no further drilling was carried out.

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Exploration by Kryso

In 2006, Kryso excavated three cuts across the outcrop at Hukas. Analysis of samples returned encouraging grades of 1.03-1.57% Ni and 0.62-1.21% Cu over true widths of 2-6.7m.

During August and September 2007, LOGANTEK, a geophysical services company contracted by Kryso, carried out a TEM geophysical survey at Hukas.

The TEM survey consisted of 22km of fixed loop surveying from which three significant TEM conductivity anomalies were identified. The conductors correlate with gabbro-norites, which are known to host the nickel-copper sulphide mineralization in the area.

An extensive anomaly was identified approximately 400m to the north of the exposed mineralized lens. Two more anomalies were identified close to the Mandara stream, located a few kilometres to the north within Kryso’s exploration licence.

A programme of up to 1500m of diamond core drilling on targets identified by the geophysical survey commenced in 2008.

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