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 drills 69m at 1.7g/t & 89m at 1.0g/t Gold at Amulsar project in Armenia
Gold-focused mining company Lydian International (TSX:LYD) has released results from its drilling program at its Amulsar gold discovery in Armenia, intersecting 69m at 1.7 g/t and 89m at 1.0g/t gold in resource upgrade drilling, and extending known gold at the project by 350m.
Amulsar is a high-sulfidation style gold project that currently has an inferred category resource of 1.4 million ounces at 0.9g/t gold.
Results from the first-pass of exploratory drilling at Erato, located 900 metres to the north of the resource envelope at Amulsar, have extended known gold mineralization there by approximately 350 metres towards the southeast.
Reverse circulation drill-hole RCA-235 intersected 37 metres at 0.9g/t gold and RCA-239 intersected 55 meters at 0.9 g/t gold and 35 meters at 1.0 g/t gold.
Second-pass drill holes at Erato have now been repositioned to test a newly identified northwest-southeast trend and to explore for a high-grade feeder zone under the silica cap, the company said.
In addition, results from resource extension drill holes RCA 245, which intersected 25m at 1.0 g/t gold, and RCA 255, which saw 20m at 1.3 g/t gold, have extended gold mineralization to the southeast of the resource at Tigranes.
Infill drilling continues to produce consistent results with highlights including RCA 240, which reached 89m at 1.0 g/t gold; RCA 254, which intersected 37m at 1.0 g/t, RCA 258, which saw 69m at 1.7 g/t, and RCA 262 with results of 6m at 12.3 g/t.
What`s more, logging of new drill core suggests that the high-grade "feeder-zone" may now be connected and traced in an east-west direction, extending over 400m in strike length, said the company, but results from these drill holes are yet to be returned.
"The mapping of what appears to be the high-grade "feeder-zone" over about 400m strike length in new drill core is also very exciting and once results from this drilling are in, will hopefully lead to a significant increase in resource and overall resource grade," said president and CEO Tim Coughlin.
Drill rigs are now positioned across the ridge top to test new exploration targets, which include a 3km long breccia-zone located along the eastern flank of Amulsar, and other untested targets on the western flank.
Currently, Lydian is focused on Eastern Europe and on developing its flagship Amulsar gold project in Armenia. The Amulsar group of licenses is 95% owned by Lydian's wholly owned Armenian subsidiary, Geoteam CJSC. Lydian also has a pipeline of early-stage gold and base metal exploration projects in the Caucasus regions.
