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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$2.14  (-2.28% Descending)
52-week High: C$3.09
52-week Low: C$1.96
Market Cap: C$264.21M
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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 gold resource for Amulsar hits 2.5 million ounces

5th Apr 2011, 5:27 pm by Andre Lamberti Lydian International gold resource for Amulsar hits 2.5 million ounces

Lydian International Ltd (TSE:LYD) has updated its resource at the Amulsar gold project in Armenia which now includes inferred resources from the Erato prospect north of the central Tigranes and Artavasdes areas.

The updated resource comprises 32.4 million tonnes at 1.1 grams per ton gold for 1.1 million ounces of indicated resources and 48.3 Mt at 0.9 g/t Au for 1.4 million ounces of inferred resources.

This new resource comprises a total of 2.0 million ounces gold from the contiguous Tigranes and Artavasdes areas and the first estimate of 0.5 million ounces in inferred resources from the Erato prospect which is located approximately 900 meters to the north of Tigranes-Artavasdes.

This most recent resource estimate is developed from an additional 24,000 meters of drilling, for a total of 46,000 meters, which has significantly enhanced the company's understanding of the geological controls at the Amulsar project.

Closer spaced and better directed resource drilling at Amulsar has revealed that generally higher-grade, sub-vertical faults, fractures and breccia-veins (feeders) are more extensive than previously thought and in terms of total contained ounces tend to dominate over lower-grade, shallow-dipping strata-bound style gold mineralization.

President and chief executive Tim Coughlin said: "This new resource update is a consequence of our significantly evolved understanding of the geological controls at the Amulsar project.

“The resource remains open in all directions and this enhanced understanding means that areas in which new ounces can be found are obvious... We plan to drill a further 30,000 meters at Amulsar this year in a combination of resource upgrade, extension and exploratory drilling. Weather permitting we are hoping to commence drilling in May and no-doubt we are in for another exciting year at Amulsar," he added.

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