Chrysos Capital Corporation

February 23, 2010 08:45 ET

Chrysos Completes Drilling at Jubilee Zinc Project

HALIFAX, NOVA SCOTIA--(Marketwire - Feb. 23, 2010) - Gregory Isenor, P.Geo., President and CEO of Chrysos Capital Corporation. ("Chrysos")(TSX VENTURE:CSZ) announces:

Drilling Completed at Jubilee Zinc Project

Diamond drilling at Chrysos' 50% owned Jubilee Zinc Project in Nova Scotia has been completed. The Phase 1 drill program of 1,371 metres focused on the Jubilee Main Zone and included testing of the mineralized vertical fault zone.

The program was funded and operated by Chrysos. Program results will be released as soon as assay results are received, compiled and analyzed.

Jubilee has a CIM Standards and NI 43-101 compliant resource estimate of 3.1 million tonnes grading 4.71% Zinc equivalent*, including 2.1 million tonnes grading 5.6 % Zinc equivalent and 1.9 million tonnes grading 5.79% Zinc equivalent (November 5, 2007, Mercator Geological Services Limited). * Zn Equivalent calculated as Zn Equivalent = (Zn% + Pb%) based on averaged July 2007 through October 2007 Zn and Pb market pricing. 

Upon completion of the Phase I program, the Jubilee Zinc Project will be managed under a 50/50 Joint Venture Agreement with Merrex Gold Inc. with Chrysos as Operator.

The principal assets of Chrysos are a 100% ownership of the Niaouleni Gold Project in Mali and a 50% interest in the Jubilee Zinc Project and ancillary zinc properties including the Cape Breton Regional Zinc Claims and the Eastville Permits, all in Nova Scotia. (see news release January 4, 2010)

Gregory P. Isenor, P. Geo., is the Qualified Person as defined under NI 43-101 who has reviewed and is responsible for the technical information presented in this news release.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Chrysos Capital Corporation
    Greg Isenor
    President & CEO
    (902) 832-5555
    Chrysos Capital Corporation
    Tom Hickey
    (902) 832-5555