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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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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.

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Lydian International extends known mineralization at Amulsar project in Armenia

30th Nov 2010, 3:25 pm

Lydian International (TSX:LYD) announced Tuesday further results from drilling at its Amulsar gold discovery in Armenia, identifying new gold at both the Tigranes and Artavasdes resource areas.

Diamond drill hole DDA-076 intersected 89 metres at 1.9g/t gold, including 11 metres at 5.9g/t gold and 14 metres at 3.7g/t gold.

This drill hole, Lydian said, is signficant as it extends the area of the known high grade mineralization on the western edge of the Tigranes resource.

At Artavasdes, drill hole DDA-67 intersected 52 metres at 1.2g/t gold and 19 metres at 1.0g/t gold, while DDA-69, on the south east of Artavasdes, returned 46.5 m at 1.2g/t gold.

DDA-69 is located just 100 metres south of RC hole RCA 301, which returned 40 metres at 5.6g/t gold, as previously announced by Lydian earlier this month.

The company said these intersections may form part of a potential new higher grade "feeder zone" on the south east of Artavasdes.

Moreover, additional rock chip channel sampling on Artavasdes has returned 18 metres at 1.2 g/t gold, which extends the area of known mineralization on Artavasdes to surface, expected to be included in the updated resource estimate planned for the first quarter of next year.

"These results will be incorporated in the modeling and resource update work that is currently underway," said president and CEO Tim Coughlin.

"There is a concentrated and concerted technical effort underway with the aim being to complete and release the resource update by the end of February next year."

Amulsar 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.

The Amulsar group of licenses is 95% owned by Lydian's wholly owned Armenian subsidiary. Lydian also has a pipeline of early-stage gold and base metal exploration projects in the Caucasus regions.

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