Chrysos Capital Corporation

January 20, 2010 08:59 ET

Chrysos Drilling Commences at Jubilee

HALIFAX, NOVA SCOTIA--(Marketwire – Jan. 20, 2010) – Gregory P. Isenor, President and CEO of Chrysos Capital Corporation ("Chrysos") (TSX VENTURE:CSZ), announces:

Drilling Underway at Jubilee Zinc Project

Diamond drilling is underway at Chrysos' 50% owned Jubilee Zinc Project in Nova Scotia. The $413,600.00 Phase 1 drill program (approximately 1,700 meters) will focus on the Jubilee Main Zone and will include testing of the mineralized vertical fault zone. The program is wholly funded and operated by Chrysos after which Chrysos will operate the project under a 50/50 Joint Venture Agreement with Merrex Gold Inc. 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).

The principal assets of Chrysos are a 100% ownership of the Niaouleni Gold Project in Mali and its 50% interest in the Jubilee Zinc Project and ancillary zinc properties, 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