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18/11/2011

Lydian Intl says its Amulsar gold project will be a big part of the Armenian economy

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Additional Information
Market: TSX
Sector: General Mining - Gold
EPIC: LYD
Latest Price: C$2.19  (-2.01% Descending)
52-week High: C$3.09
52-week Low: C$1.96
Market Cap: C$270.39M
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Lydian International
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.

Full Lydian International profile here
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Lydian International applies for retention license on Drazhnje property in Kosovo

17th Sep 2010, 8:55 am

Mineral exploration and development company Lydian International (TSX:LYD) has made an application to the Independent Commission for Mines and Minerals (ICMM) in Kosovo to convert its exploration license for the Drazhnje lead-zinc-silver asset in the state to a retention license, due to certain economic reasons.

The regulations on mines and minerals in Kosovo  say that the holder of an exploration license can apply to the ICMM for a retention license over an existing resource, if the resource cannot be developed immediately, as a result of adverse market conditions or other temporary economic factors.

Lydian decided to cease any further investment at Drazhnje following the results of a pre-scoping study conducted by CSA Global, which concluded that the project, which hosts a CIM compliant inferred category resource of 3.2Mt at 5.2% Zinc and 2.5% Lead, would require significant additional reserves to be viable at today's base metal prices.

This, combined with local economic factors that are currently prohibiting development and access to nearby ore treatment facilities, has led the company to apply for a retention license.

The retention license will not incur any costs for the company, it said.

Currently, Lydian is focused on Eastern Europe and on developing its flagship Amulsar gold project in Armenia. The company also has a pipeline of early-stage gold and base metal exploration projects in the Caucasus regions.

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