Crystallex International Corporation Announces Additional Reserves.VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 4, 1995-- Crystallex International Corporation Crystallex International Corporation (TSX: KRY, AMEX: KRY) is a Canadian corporation engaged in gold mining and exploration. It operates open-pit mines and exploration sites in Venezuela. Wednesday announced the near doubling of its current gold reserves from 33,457 ounces to 66,462 ounces at the La Conductora shear zone (averaging approximately 0.40 ounces per ton) at its Albino albino (ălbī`nō) [Port.,=white], animal or plant lacking normal pigmentation. The absence of pigment is observed in the body covering (skin, hair, and feathers) and in the iris of the eye. property in Venezuela. The new reserves are categorized as proven, probable and possible ounces. The newly discovered 33,005 ounces, grading 0.33 ounces per ton, are derived entirely from drilling in the La Conductora zone. Mr. W. Glen Zinn, President and C.E.O. of Crystallex said, "We are very pleased with the progress to date on the Albino concession. Our cost per ounce discovered for these additional ounces was only US$1.33 per ounce." The Company also said it has been orally advised by the U.S. Securities and Exchange Commission that Crystallex's Registration Statement on Form 20-F has cleared SEC review. This registration statement relates to Crystallex's class of common shares without par value and was used by Crystallex to register the class under the U.S. Securities Exchange Act of 1934. The receipt of SEC clearance of this registration statement satisfied one of the major requirements for Crystallex's stock to become listed for trading on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on system . Crystallex's application for trading on NASDAQ is currently pending. Crystallex is engaged in the exploration, development and mining of gold in Venezuela where it has three major concessions -- the Albino, Carabobo and Santa Elena Santa Elena, the Spanish-language name of Saint Helen, is often used as a toponym in parts of the world where that tongue is or was spoken:
A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors KRY KRY Crystallex International Corporation (stock symbol) . On Behalf of the Board: "W. GLEN ZINN", President & C.E.O. -0- Note to editors: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. CONTACT: Crystallex International Corp. W. Glen Zinn, 604/683-0672 604/688-3128 (Fax) or 1-800-567-1933 (Toll Free) |
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