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 results at Amulsar property suggest northwest-southeast gold mineralized corridor
Eastern European-focused precious and base metals exploration and development company Lydian International (TSX:LYD) has announced further results from resource upgrade and extension drilling at its Amulsar gold grassroots discovery in Armenia, which has opened up potential to the North and West and identified more gold to the Southeast.
Amulsar currently hosts a CIM compliant Inferred Category Resource of 1.4 million ounces at 0.9g/t gold.
Highlights from the reported results include reverse circulation drill hole RCA-233, which intersected 95 metres at 1.7g/t of gold from the Erato area, located 40m to the south of DDA-30, which returned 229m at 1.0g/t golf in last year`s drilling. DDA-30 is approximately 900m to the north of the resource envelope at Tigranes and Artavasdes.
This year's drilling at Erato suggests the presence of a previously unknown northwest-southeast trending gold-mineralized corridor, said the company.
"Long intersections of good grades at Erato and the presence of a silica-cap may imply some similarities with Artavasdes 900m to the south, where we have intersected what appears to be a high- grade feeder zone" said president and CEO Dr Tim Coughlin.
"A high-grade feeder is our target at Erato, but further modeling and drilling is required before we can be sure it's there. Step-out, resource extension and upgrade drilling has returned consistently good results and mapping and modeling has filled the pipe-line with new targets ready for drill testing," he continued.
Results from step out drilling to the southeast of the Tigranes area include RCA 220 (37m @ 1.2 g/t gold), which represents a significant addition to known mineralization within reach of the current resource.
Further, results from resource extension holes include DDA-038, which intersected 32m @ 1.0 g/t gold and RCA 213, which had grades of 22m @ 1.0 g/t gold. DDA 38 extends the resource on Artavasdes to the west, whilst RCA-213 extends gold at Tigranes towards the north.
Other highlights include resource upgrade holes RCA- 226, which intersected 92m at 1.2 g/t, and DDA-039, at 66m at 1.3 g/t gold, and 35m at 1.1 g/t gold.
In addition, RCA 224 intersected 69m @ 1.3 g/t gold and was drilled as a twin hole to DDA-035, which intersected 62m @ 1.3g/t gold.
Twin holes are drilled for resource estimation purposes in-order to compare results from reverse circulation and diamond drill holes.
Results from RCA-224 will provide additional confirmation in the updated resource estimate which will be released after the drilling program later in the year.
In early August, hole RCA-195 grabbed headlines and lifted the company`s share price, as it intersected a high grade zone of 84 meters averaging 4.9 grams per tonne gold from the Artavasdes area of the project.
The hole was drilled below a low grade silica cap, and was designed to track zones of higher grade gold intersected during past drilling.
Amulsar sits within the Tethyan fold belt, one of the principal geological features in the northern hemisphere, which extends 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.
Currently, Lydian is focused on Eastern Europe developing advanced precious and base metal assets in Armenia and Kosovo. The two main projects are gold at Amulsar in Armenia, and zinc, lead, silver and gold at Drazhnje in Kosovo.
