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 discovers new high-grade zone southeast of Artavasdes at Amulsar project in Armenia
Lydian International (TSX:LYD) said Monday it discovered a new high-grade gold zone at its Amulsar project in Armenia, with results of 40m at 5.6g/t gold.
The drill intersection from hole RCA-301, which was uncovered through resource extension drilling at the site, was located to the southeast of the Artavasdes area.
Lydian said the hole was drilled to test a 1km long northeast-southwest trending fault structure.
"Drill hole RCA-301 amplifies the message that there are more surprises in store at Amulsar," said president and CEO Tim Coughlin.
"Although we can map out and follow gold-bearing fault structures at the project we still only have part of the story as higher grade zones are obviously located at certain intervals along the length of the faults."
The higher grade intersection, which remains open at depth, could suggest a new "feeder" zone, said the company, located along the targeted fault structure.
Other significant intersections include infill drill hole DDA-056, which returned 38 metres at 1.1g/t gold, and exploration hole DDA-059, which intersected 29 metres at 1g/t gold outside the current resource shell in the Arshak area.
Hole RCA-302, which is located at least 600 metres to the south of the resource shell, did not intersect a long interval of greater than 1g/t gold, but low-grade gold was indeed intersected along its length for the first 80 metres, Lydian added.
The results from hole RCA-302 potentially suggest that the gold mineralizing system at Amulsar extends southwards over a total strike distance of at least 3 kilometres from its current northern limit at Erato.
In addition, further rock-chip sampling at the northeastern extent of the Tigranes deposit returned "highly encouraging" gold grades, according to the company. The area, which measures some 200 metres in strike length and is up to 150 metres wide, is difficult to access with conventional drill rigs and has thus been excluded from previous estimates.
Recent channel samples from the zone returned 5.7 metres at 10.4g/t gold, 27 metres at 1.0g/t gold and 5.1 metres at 9.7g/t gold. Lydian said that further channel sampling is planned so as to include the area in the updated resource estimate planned for the first quarter of next year.
The Amulsar group of licenses is 95% owned by Lydian's Armenian subsidiary. The project is a high-sulfidation style gold project, which currently hosts a CIM compliant inferred category resource of 1.4 million ounces at 0.9g/t gold.
Lydian also has a pipeline of early-stage gold and base metal exploration projects in the Caucasus regions.
