www.lydianinternational.co.uk
Lydian International is a mineral exploration and development company with expertise and a proven track record in discovering and developing new gold projects in unfamiliar and frontier settings. The Company is currently focussed on developing its Amulsar gold discovery in southern Armenia. The Amulsar project was a new discovery made by Lydian in 2006 and currently hosts a global resource of 3.2M ounces after its resource update in January 2012. This resource update comprises a total of 1.7 million ounces gold in the indicated category and 0.6 million ounces gold in inferred category (using a 0.4g/t cut-off) from the contiguous Tigranes and Artavasdes areas and 0.5 million ounces gold in the indicated category and 0.4 million ounces inferred category from the Erato prospect which is located approximately 900 meters to the north of Tigranes-Artavasdes. The project remains open in all directions and is currently advancing towards Bankable Feasibility with full production due in the first half of 2014.
Lydian gets a lift after reporting new high grade gold zone at 1.4 million ounce Amulsar Project
Lydian International (TSX-LYD) spiked higher this morning after the company reported yet more assay results from ongoing drilling at the Amulsar Gold Project in Armenia, a grass roots discovery made by the company. This morning`s results were of particular significance as they included a wide zone of higher grade mineralization – 84 meters averaging 4.9 grams per tonne gold – from the Artavasdes area of the project.
Lydian has already defined a CIM (Canadian Institute of Mining) compliant inferred resource of 1.4 million ounces at 0.9 grams per tonne gold, and is currently undertaking another round of drilling aimed at both upgrading and increasing the current resource. Higher grade zones, which Lydian have now discovered three of at Amulsar, have the potential to significantly lift the economics of the project.
RCA-195 which intersected the high grade zone, was drilled below a low grade silica cap, and was designed to “track” zones of higher grade gold intersected during past drilling.
“Gold mineralization in RCA-195 remains open at depth, to the south and east and suggests potential for an exciting new high-grade zone located below the Artavasdes area,” Lydian stated this morning. “Previously released drill holes located proximal to RCA-195 and also intersecting high-grade gold include RCA-069 (135m at 2.3g/t gold), RCA-070 (71m at 3.1g/t gold) and RCA-071(96m at 1.4g/t gold; see press release 25th November 2008).”
While RCA-195 grabbed the headlines, Lydian also reported assays from several other holes, highlights included 51 meters averaging 2.3 grams per tonne gold in RCA-198, which was drilled along the north-western edge of the Tigranes area, and 12 meters averaging 3 grams per tonne gold from RCA-185 which was drilled into a higher grade fault zone, also drilled along the north-western edge of the Tigranes area.
"Lydian's geologists have now identified at-least three linear and curvilinear higher grade zones all of-which remain open along strike and at depth beyond the current resource envelope,” said Tim Coughlin, Lydian's President and CEO.
Amulsar sits within the Tethyan fold belt, one of the principal geological features in the northern hemisphere.
Extending from Central Europe and northern Africa across Turkey and the Middle East to the Himalayas and then on to the Far East and Indonesia. Stretching as it does across so many countries and cultures, many of which have been centres of political and geological upheaval over the centuries, the Tethyan belt is perhaps the least explored of all the earth’s major geological systems.
